The problem is, on average, 30% of that number is being used by the “Fat Cats” to…
…build their Ivory Towers
…buy their Gulfstream Jets
…and to spend “Summer in the Hamptons”
On average – each and every single month, over 30% of the total amount you pay towards debt, whether that be…
Or even your mortgage is…
These financial institutions and the “Fat Cats” who run them, are compounding THEIR wealth with your money.
You see – a large chunk of the money you pay back on amortized loans – isn’t just paying back the money you owe.
It’s paying a relentlessly compounding interest figure.
The longer the loan term – the more that figure grows exponentially.
Hence why – the total amount owed for a mortgage – will on average be made up with as high as 50% in JUST INTEREST PAYMENTS. It’s like paying for your house…twice!
Not really fair, is it?
And even when or IF you do manage to clear of your debt – what happens next?
You may need to borrow money for something else.
“Compound interest is the 8th wonder of the world.
He who understands it, earns it…he who doesn’t, pays it.”
Most Americans are simply making the minimum payments on their debt, and are using any additional money they have to…
But unless your returns from those endeavors beat (or at the minimum – match) the embedded interest rate within your debt…
Then financially – you’re still worse off…
Snowballing was made popular by the world-famous personal finance personality – Dave Ramsey.
But it has ONE major flaw.
What happens when your debt is paid off?
You’re debt-free? Correct.
You end up, right back in debt…again. And you’re back to paying ridiculously high interest rates…again.
That’s where Debt Free 4 Life™ comes in…
Once you’ve calculated your embedded interest rate – we’ll forward you a free report.
In this report, we’ll outline (with a Debt Free 4 Life™ Plan) how much less debt you could pay – how much faster you could pay it off – and the cash total you’ll have remaining at the end.
Once you’ve received and reviewed your free report, you’ll be given the opportunity to speak with one of our advisors to see if we can help.
On this call, we’ll review your numbers with you, review your report and look at potentially implementing your very own Debt Free 4 Life™ Plan.
Enter each of your debts along with their current balance, minimum monthly payment (please don’t include additional principal payments) and the loan interest rate. Once you’ve entered all of your loans, click the “Calculate My Effective Interest Cost” button at the bottom of the page.
|Debts||Name||Balance||Interest Rate||Payment||Monthly Interest $||Effective Interest Cost %|