Dream Big: How to become DEBT-FREE!

YES!!!!!!!!!!!
You can certainly be debt-free. Debt is not a right of passage in life. Debt is not a necessity, and debt is certainly not handed down in the gene pool. Debt is
sometimes necessary, FOR THE SHORT TERM, when we need to buy a home or a car, and to not have $100,000 to plunk down on the home of our dreams. But, the notion that you
have to forever be in debt is a falsehood!

Debt is an amount of money you have borrowed that you pay back with interest. It is usually not the principal amount that gives us the trouble. If I borrow $5200 and no interest is ever added, I can pay that off in one year, paying $400 per month. I can pay it off in two years paying $200 per month...and so forth. I can see, exactly, how long it will take to pay off the principal. YET, when interest, or the money you pay for the convenience and service of getting the loan in the first place, is added each day, each week, each month...then it becomes less clear to consumers how much they really owe. If I am paying 21% interest on a $5200 loan, compounded annually, or in other words, added to the amount of the loan, annually, at the end of year one I will owe $6292 and if left unpaid, at the end of year two I would owe $7613. So if all I can afford is $200 per month, I will be paying on this loan for many years, because interest is being added constantly, and I have not adjusted my payment to include this interest.

Debt is complicated and it is frustrating, when you have other bills that are continually coming in as well. We want to buy and spend on sight, yet when it comes time to pay those bills, we often want to only pay a minimum amount, or can only AFFORD a minimum amount. That increases the life of the debt, and gives most of us the notion that we will forever be in DEBT!

Well, there are many avenues you can take to become Debt-Free. I do not know them all, but I can tell you how I am becoming debt-free. I use EquityTRAX, www.mydebtfreedate.com. This system asks you to input your monthly bills that are credit-based (credit card, auto loans, mortgages, personal loans, student loans, etc.) Using a special formula, the company will send you a monthly statement that shows you how to pay off those bills, gives you a DATE you will be debt-free, and allows you to continue to pay, ONLY what you currently pay on your bills, or add more if you desire to pay off your debt more quickly. Each month, one or more of your bills will be paid in excess of the minimum due. This will shorten the life of the loan, and help you pay if off quicker. Eventually, once your debt is paid off, the system shows you how to save that money to build a reserve of cash for retirement.

It is a genius idea, and so far,it is working well for me. If I follow the plan, I will be debt-free in 12 years, and I have a large student loan. Some fellow members will be able to pay off their homes in less than half the time of the life of their loan (20-30 years).

You can get EquityTRAX by becoming a member of Financial Destination, Inc., and I can help you with that. Not only am I a member, I am also a representative. You can e-mail me at fdidet@ymail.com for more information. We sure to include your name, your phone number and e-mail, and mention of Style and Substance for a special gift.