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  Category: Articles » Finance » Article
 

Learn The 15 Sure-Fire Debt Elimination Tips You Must Know!




By Vincent Dail

Debt Elimination tips shows how Millions of Americans
are living on the edge of financial disaster surviving
only on the hope of next week's paycheck. The average
American is dying under a load of debt, with little or
nothing building in the bank or in investments.

Debt Elimination Tips, shows how we've been misled!

See for the first time how the entire way our economy
works, is designed to make you work yourself to
exhaustion--simply to accumulate wealth for the
companies you do business with--Not For You.

The most staggering example of this is a home
mortgage. Say you bought a home with a 30-year
conventional or adjustable rate mortgage, you will pay
for that loan about THREE TIMES. Just multiply out your
payment times 360 months and you will see that the
total is about 3 times the value of the money you
borrowed.

Say you buy a $250,000 home, with a $200,000
mortgage; you will end up paying about $600,000 over
30 years. This means that you will pay nearly $400,000
dollars in interest! Just for the privilege of using their
$200,000.

That means that two-thirds of that total is interest.
Interest is the profit the Mortgage Company makes for
lending you the money to buy the house. And they feel
that you should pay them back THREE TIMES. That's
200% interest!

Debt elimination tips -- Now let these words soak into
your mind and heart: You will have to work...week after
week...year after year...to earn FOUR HUNDRED
THOUSAND DOLLARS---Just so you can give it to the
bank to make them rich!

Debt Elimination Tips, Show's how bad it really is to use
credit cards and to make only the minimum payments!

Suppose you bought $2,000 worth of furniture on a
typical (19.8% interest with a $40 annual fee) credit
card, and you paid only the minimum monthly payments
requested by the credit card company (here's why they
only ask for a minimum payment), it will take you 31
years and 2 months to pay it off.

Plus--In addition to the original $2,000 cost of the
furniture-- you would have paid $8,202 in interest,(if
you make the minimum payments) just for the privilege
of using their $2,000! That's five times the furniture's
value! Long after you had thrown the furniture out, you
would be draining your wealth away paying for it.

Banks, finance, creditors and credit card companies
have encouraged indebtedness.

Debt Elimination Tips, Why turn your hard-earned
money over to the credit card companies? When you
don't have too. Follow a proven debt elimination plan!

A new survey by the American Bankers Association
found that 45% of credit card holders with incomes
between $50,000 and $100,000 never pay off their
balances. Many others don't even make the minimum
payments and fall behind on the interest. (Palm Beach
Post, Oct 7, 1998)

Debt elimination tips shows how the average American
will make over $1,000,000 in his or her working lifetime,
and will have as much as 67% to 80% of their money
Legally Stolen from them in the form of many different
types of federal, state, local taxes and interest on
borrowed money!

Debt elimination tips You Can Start Using Today!


1. Begin eliminating all debts.

2. Write down everything you purchase, determining
where your money is going is half the battle on your
road to becoming debt free and critical to your future
financial success. Seeing it in black and white can give
you a new perspective.

3. Pay cash whenever possible.

4. Cut up and cancel all your credit cards, Using a debit
card instead of a credit card gives you all the
convenience of a credit card but withdraws money
immediately from your checking account, so you can not
dig yourself back into debt.

5. Never fall into the habit of making only minimum
payments.

6. Pay the most you can afford.

7. Put money-saving tips into practice, when possible
shop at outlet malls, wholesale clubs and take
advantage of coupons.

8. Avoid the trap of thinking in monthly payments.

9. Consider the total cost of purchasing goods and
services on credit and compare that with cash savings.
You'll pay cash every time.

10. Compare the interest charged on your debts with
the interest earned on your savings and investments.
You'll find it makes more sense to resolve all debts
before beginning a savings or investment program.

11. Debt consolidation loans: be very careful your
monthly payments will be lower, but you may lose in
the long run, because those lower monthly payments
will be spread over a longer period of time. If you don't
change your spending habits Now, you could easily end
up in worst trouble down the road!

12. Bargain for a better deal: Don't be afraid to
negotiate with your creditors many will be willing to
Freeze your interest on your outstanding balances in
return for automatic monthly payments.

13. Avoid the Quick-Fix companies. Many will charge
you a lot of money Up Front, but very few will genuinely
help you in the long run.

14. Don't promise away your future income by cashing
out part of your retirement savings early to pay down
your current debt. You will have to pay Current federal
and state taxes, Plus an early withdrawal penalty on
that money. You are borrowing against your future,
just to pay your current debts and to continue Living a
lifestyle beyond your means.

15.Avoid filing for bankruptcy.
 
 
About the Author
Vincent Dail gives you the debt elimination tips you need, today! Learn the secrets that the credit and debt companies dont want you to know! To receive your special report visit: http://www.debt-elimination-program-reviews.com

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