Debt Free Prosperous Living By John Cummuta, Learn How To Get Out Of Debt By Turning Every $1 0f Your Debt Into $11.83 Of Real Wealth!
Debt Free Prosperous Living By John Cummuta, Learn how to legally get out of debt and fix credit card debt. Are you debt wise, negotiate credit card debt, today!
Debt Free Prosperous Living by John Cummuta. We have been taught that we have to keep making more and more money if we are to reach financial independence.
The reality is -- we are giving away up to 75% of our wealth by blindly following conventional wisdom.
Debt Free Prosperous Living. Learn Where Your Money Really Goes!
- 37% to 50% of your wealth goes to the government in taxes
- 20% is drained away as mortgage interest. (If you are renting, your lost is even greater! 100% of what you pay out is lost!!)
- 10% is drain to pay other credit interest -- credit cards, car loans, installment loans, etc..
We only get to keep 20% to 33% of our hard earned money!
The government and credit granting institutions get to keep 67% to 80% of your hard-earned wealth ... do they deserve it more than you?
Let's be optimistic and say you're left with 33% of your money to live on ... for the average American ($47,211 yearly income) that $15,579.63 a year --- $1,298 a month -- $325 a week for you to live on .... To actually buy the house (principal) ... buy the car with, pay utilities ... the children's education ... pay medical expenses ... buy food and clothing ... and invest for the future. Not a very bright future is it?
According to a 1990 study by the Department of Health and Human Services, 96% of the American population is failing financially. In the study they found that of the people tracked from birth until their 65th birthday ......
- 25 were physically dead
- 20 were dead broke (income under $6,000 per year)
- 51 were dying financially (income between $6,000 and $35,000)
- Only 4 had incomes over $35,000
What part of this scenario do you want to be in ... the 96% or the 4%? [I want to be in the 4%]
The tragedy here is we don't have to end up in the 96% who fail. We just have not been taught how to be in the top 4%!
Well, I'm spilling the beans, Debt Free Prosperous Living By John Cummuta!
We tend to think -- if I work hard things will work out for me in my latter years. Listen, things don't just work out!
A YALE UNIVERSITY SURVEY.
In 1953 the graduating class of Yale University was surveyed and it turned out that 3% of the graduates had formulated financial goals for their lives and written a detailed plan to achieve those goals. In 1973, 20 years later, those same people were found and surveyed again. It turned out that the 3% that left college with goals and plans to achieve those goals, were worth more than the other 97% combined!
This is not some isolated incident.
According to the 1991 Book of Odds, only 1 out of 100 Americans who lives to age 65 will have enough savings to enjoy the same standard of living they had prior to retirement.
Let me say this again, things don't just work out ...
You Need A Plan, That Works, Follow The Debt Free And Prosperous Living System By John Cummuta!
You MUST take a non-conventional path. If the conventional path was working, 96% of the American people would not be failing financially. The truth is, the average American can reach true financial independence without having to earn a penny more than they do now. However, they MUST have and follow a proven plan.
Debt Free Prosperous Living - A Simple, Three (3) Pronged Approach.
- Get completely out of debt, including your mortgage (Click here to get a free report outlying why you are better off paying off your mortgage than using the money for investment or using the mortgage as a tax write off.) Focus your resources toward increasing your NET WORTH by eliminating your debts and bills first.
- Immediately begin to operate 100% on cash (Yes its possible on the money you already make.
- Safely and quickly build wealth so you can live off the interest.
The important point here is the fact that you can do all this with the money you're already making!
How To Do This, Debt Free Prosperous Living By John Cummuta!
Debt Free Prosperous Living; STEP 1: Getting out of debt!
- Write down the amount of money above the minimum monthly payment you can put toward debt elimination. (10% of gross is your desired target; however any thing you put toward it will accelerate the process. Hence, this extra money is called an accelerator margin.)
- List the balances of all of your debts or bills (mortgage [principle only], credit cards, car notes, etc.. If it can be paid off list it.) and add them all up.
- Write down your minimum monthly payments for each bill and add them together.
- To determine which bill to pay off first, divide each bill balance by its minimum payment. This gives you an estimate (in months) of the time it will take you to pay it off. The bill with the smallest balance is typically the first one to target for payoff, etc., etc..
- Add whatever you came up with as your accelerator margin to the minimum monthly payment for bill one. Pay off bill one. Balance / (min payment + accelerator margin) = payoff time.
This is key, with debt free prosperous living by John Cummuta!
Once you pay off bill number 1, you - roll the complete amount - to bill number 2 in your payoff list.
For example, let's say your first bill to be paid off had a minimum payment of $20 and the second bill schedule for pay off had a minimum payment of $40. Further assume your accelerator margin is $100.
Your monthly payment for bill 1 would be $20 + $100 = $120 per month. Once you pay off bill number 1, you apply the total amount ($120) to bill number 2 ($120 + $40 = $160) with the debt free prosperous living system.
You continue to roll the payments down to the next bill until ll of your bills are paid in full.
Contrary to what we have been taught, paying off your debts first is the best investment you can make. By doing so, you are literally turning debt into wealth. For the average American, the amount of interest saved and earned over the time it would have normally taken to pay off all of your debts, including your mortgage, equates to turning every dollar of your debts into $11.83 of real wealth. This has always been the case. The difference is someone else was making the money!
Do you think someone else deserves it more than you?
Debt Free Prosperous Living; STEP 2: LIVE ON CASH!
While you are paying off your debts ... don't make any new ones unless an absolute emergency comes up and you have no other alternative!.
Debt Free Prosperous Living; STEP 3: BUILD YOUR WEALTH!
The average American using this process will be totally out of debt including their mortgage in 5 - 8 years. If you don't have a mortgage, pay off all of your other bills or debts and then purchase a house. Apply this acceleration technique to your mortgage and pay it off in 2 - 4 years. Then start your regular investment process.
Well, that is a quick look at the how to turn every $1 of your debt into $11.83 of real wealth. Debt Free Prosperous Living By John Cummuta.
Have you had enough of working hard to make money ... just to find that your paycheck comes in one day and goes out the next to pay your mortgage, your loans, and your credit card bills?
NOW! Just imagine what you will feel like, when you wake up one morning and absolutely know that all of your debts have been eliminated.
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