Does it seem like everything is going up while your paycheck stays to same? Everytime you buy groceries or gas, does it seem like you have to dig a little deeper in your pocket? With prices increasing everyday, let's come up with a plan to get the most from your money. Try these 5 frugal ideas for a living on a dime.
Make a grocery list and stay with it.
It's amazing how many people go into a store and just start grabbing stuff they need. This is exactly what supermarkets are hoping for. Supermarkets are designed to get the most money from impluse buys. This is why people go into the store for a gallon of milk and end up with a cart full of groceries. Make sure that everything on your list is truly needed.
Clip and use coupons
There's nothing wrong with using coupons. Studies show that you can save as much as10% your grocery bill just by using coupons for items that you're going to buy anyway. Also, check out online coupons for as much as 50% off certain items.
Eat out less at work.
Bring your lunch to work and save a ton of money. Just brown bag your lunch once in awhile and see the savings add up. Also, imagine how much money you'll save gas not driving to restaurants all of the time.
Eat out less often for supper.
Look on the internet for easy recipes that you can fix at home. Generally speaking, homemade meals are healthier and cheaper to cook. Also consider using a crock pot to cook your meals for you while you're at work. After you come home in the evening dinner will be ready to serve!
Find more productive ways to relieve stress
Some people go shopping to relieve stress after a long day. They've had a hard day at work and feel that they deserve something new. They'll get out their credit card, charge it, and go home with their shining new toy. Of course, buying things with your credit card can lead to more stress later on and higher bills.
Use these 5 frugal ideas for living on a dime to save money. Did you know that paying off debt can be one of the best investments that you can make? Use extra money in your budget to pay off debt and get your finances under control!
Frugal Ideas for Living On a Dime - Discover the #1 Debt Elimination Course that has helped many people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
Showing posts with label payoff debt. Show all posts
Showing posts with label payoff debt. Show all posts
Monday, October 19, 2009
Tuesday, October 13, 2009
Should I Pay Off My Mortgage? - The Truth
Most people know that getting a mortgage is one of the biggest expenses in life. Recently, some people have been asking the question, "Should I pay off my mortgage?" or "Is it smart to pay off your mortgage?" Read on to discover the truth to these questions.
First let's talk about interest rates. Many people wonder if they should pay off their mortgage if they have a low interest rate. For example, they may have a 6% interest rate on their house and have been told that it's not smart to pay it off.
The truth is that nobody has a 6% interest rate. If you don't believe me, just look at your mortgage statement. Notice how the principal is really small and the interest is really big? Notice how 85% to 90% of your house payment goes to profit for the bank? The mortgage company always collects their profit up front for the first few years of the loan. So it's not really a 6% interest rate unless you pay it off during the first year! Now who does that?
Second, let's talk about a common myth - the mortgage tax deduction. How you ever heard someone say, "Don't give up your mortgae. It's the last best tax deduction that you have!" You know what? It's a lie.
Yes your mortgage is a tax deduction. But here's the truth - you're going to pay about 3 times the price of your house during the time you're in debt for 30 years.
Also, let's say that you're in the 30% tax bracket. Well, that means that the government is going to give you 30 cents for every $1 that you pay in interest. Wow! Does that sound like a good deal? To give the banks $1 and you get 30 cents back? That's what this so-called great "tax deduction" is about. If someone thinks that trading $1 for 30 cents is a good deal, then they need to have their head examined!
Also, here something that you may not know. Do you realize that the average person moves once every 7 years? Remember how the banks always collect their interest (profit) upfront before you actually start paying down your loan? This means that if you move once every 7 years, then you'll always be at the beginning part of a home loan paying 90% interest! This causes most people to have very little equity in their home when they decide to move because they have given most of their money to the bank!
Here's another little known fact. The word "mortgage" comes from the Latin word mortuus which means "death." The word "gage" means to pledge or grip. So you can see that the word mortgage really means "death grip!" There's no question that a mortgage is a long term burden that most people would be better without.
Paying off a mortgage is about more than just numbers and figures. It's about the choice of freedom. Freedom from all debt payments. What would your life be like if you had no mortgage payment, car payments, or credit card payments? How much better off would you be? Could you make some different choices in your life? Maybe you could stop going to the job you hate because "it pays the bills" and do something else instead.
You see, being debt free is really about taking back control of your life! So the answer to the questions, "Should I pay off my mortgage" and "Is it smart to pay off my mortgage?" are a loud "YES!" As fast as you can.
Should I Pay Off Mortgage? - Discover how to pay off your 30 year mortgage in 10 years or less.
Sign up for the #1 debt elimination course that has helped many people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can your family afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
First let's talk about interest rates. Many people wonder if they should pay off their mortgage if they have a low interest rate. For example, they may have a 6% interest rate on their house and have been told that it's not smart to pay it off.
The truth is that nobody has a 6% interest rate. If you don't believe me, just look at your mortgage statement. Notice how the principal is really small and the interest is really big? Notice how 85% to 90% of your house payment goes to profit for the bank? The mortgage company always collects their profit up front for the first few years of the loan. So it's not really a 6% interest rate unless you pay it off during the first year! Now who does that?
Second, let's talk about a common myth - the mortgage tax deduction. How you ever heard someone say, "Don't give up your mortgae. It's the last best tax deduction that you have!" You know what? It's a lie.
Yes your mortgage is a tax deduction. But here's the truth - you're going to pay about 3 times the price of your house during the time you're in debt for 30 years.
Also, let's say that you're in the 30% tax bracket. Well, that means that the government is going to give you 30 cents for every $1 that you pay in interest. Wow! Does that sound like a good deal? To give the banks $1 and you get 30 cents back? That's what this so-called great "tax deduction" is about. If someone thinks that trading $1 for 30 cents is a good deal, then they need to have their head examined!
Also, here something that you may not know. Do you realize that the average person moves once every 7 years? Remember how the banks always collect their interest (profit) upfront before you actually start paying down your loan? This means that if you move once every 7 years, then you'll always be at the beginning part of a home loan paying 90% interest! This causes most people to have very little equity in their home when they decide to move because they have given most of their money to the bank!
Here's another little known fact. The word "mortgage" comes from the Latin word mortuus which means "death." The word "gage" means to pledge or grip. So you can see that the word mortgage really means "death grip!" There's no question that a mortgage is a long term burden that most people would be better without.
Paying off a mortgage is about more than just numbers and figures. It's about the choice of freedom. Freedom from all debt payments. What would your life be like if you had no mortgage payment, car payments, or credit card payments? How much better off would you be? Could you make some different choices in your life? Maybe you could stop going to the job you hate because "it pays the bills" and do something else instead.
You see, being debt free is really about taking back control of your life! So the answer to the questions, "Should I pay off my mortgage" and "Is it smart to pay off my mortgage?" are a loud "YES!" As fast as you can.
Should I Pay Off Mortgage? - Discover how to pay off your 30 year mortgage in 10 years or less.
Sign up for the #1 debt elimination course that has helped many people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can your family afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
Friday, October 2, 2009
A Mortgage Early Payoff System - Do's and Don'ts
Most people would like to follow a mortgage early payoff system. That can be a very difficult thing to get right. So here are some do's and don'ts to follow when considering a mortgage early payoff system:
First, let's talk about the don'ts:
Don't keep charging excessively on your credit cards It's hard to get out of debt if you keep putting yourself right back into it. Limit or total eliminate credit card use altogether.
Don't keep your mortgage just because you've been told that it's a great tax deduction This is crazy. If you're in the 30% tax bracket, then the government will give you 30 cents for every dollar in interest that you spend. Do you really think that trading a dollar for 30 cents is a good deal?
Don't worry about interest rates. This will go against almost everything that you hear, but here's the truth: interest rates really don't matter when paying off debt. What matters is how quickly you can pay them off. We'll talk more about this in a minute.
Now, let's talk about the do's:
Find some extra money to start paying down debt. Look for this money in your monthly expenses. Is there an area that you can cut back and find some extra money? For example, could you eat out a little less and make healthy meals at home? Or, if you're getting a big tax refund every year, maybe you could have less taxes taken out at work and use more of that money to pay off debt. Just ask your payroll department at work.
Use the extra money that you find to pay down on debt. Just list all of your debts from the smallest balance to the largest balance. Now, focus on paying off your smallest debt first. For most people, they will list their credit cards first, then car payments, and then a mortgage. Start paying off your debts in this order. After you pay off your credit cards and car payments, then you should have a lot of money coming in each month to pay down your mortgage.
Once your mortgage has been paid off, then start investing in your future. After your house has been paid, then you'll have a lot of money coming into your life because these monthly payments are gone. Use that money to start investing in your retirement.
Most people who use this mortgage early payoff system can be completely debt free in 5-10 years. Put this system to use and see the results in your life, also.
There are plenty of resources out there that can help you focus on your goal of a mortgage early payoff. Reading articles like this one is a great start.
But where can you find the right information to help get rid of your debts?
Mortgage Early Payoff - Discover the #1 debt elimination course that has helped over 300 people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
First, let's talk about the don'ts:
Don't keep charging excessively on your credit cards It's hard to get out of debt if you keep putting yourself right back into it. Limit or total eliminate credit card use altogether.
Don't keep your mortgage just because you've been told that it's a great tax deduction This is crazy. If you're in the 30% tax bracket, then the government will give you 30 cents for every dollar in interest that you spend. Do you really think that trading a dollar for 30 cents is a good deal?
Don't worry about interest rates. This will go against almost everything that you hear, but here's the truth: interest rates really don't matter when paying off debt. What matters is how quickly you can pay them off. We'll talk more about this in a minute.
Now, let's talk about the do's:
Find some extra money to start paying down debt. Look for this money in your monthly expenses. Is there an area that you can cut back and find some extra money? For example, could you eat out a little less and make healthy meals at home? Or, if you're getting a big tax refund every year, maybe you could have less taxes taken out at work and use more of that money to pay off debt. Just ask your payroll department at work.
Use the extra money that you find to pay down on debt. Just list all of your debts from the smallest balance to the largest balance. Now, focus on paying off your smallest debt first. For most people, they will list their credit cards first, then car payments, and then a mortgage. Start paying off your debts in this order. After you pay off your credit cards and car payments, then you should have a lot of money coming in each month to pay down your mortgage.
Once your mortgage has been paid off, then start investing in your future. After your house has been paid, then you'll have a lot of money coming into your life because these monthly payments are gone. Use that money to start investing in your retirement.
Most people who use this mortgage early payoff system can be completely debt free in 5-10 years. Put this system to use and see the results in your life, also.
There are plenty of resources out there that can help you focus on your goal of a mortgage early payoff. Reading articles like this one is a great start.
But where can you find the right information to help get rid of your debts?
Mortgage Early Payoff - Discover the #1 debt elimination course that has helped over 300 people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
Monday, September 28, 2009
Credit Card Payoff - 5 Steps to Payoff Credit Card Debt Now
What is the best method for credit card payoff? The best way to payoff credit card debt is to follow a system called the focused payoff method. With the focused payoff method, you can get rid of credit card debt in a matter of months. Here are the steps to take now:
1. Get out a sheet of paper and list your credit cards. Arrange your debts from the smallest balance to the largest balance. For example, you would list Master Card $500, Visa $1,000, and Discover $2,000. This is the order that you'll pay down your debts.
2. Find some extra money to pay down on debts. You can do this by either cutting expenses, earning extra money, or doing both. Let's say that you find $50 a month that you can put towards debt elimination.
3. Focus on paying down your first bill. So in our example, you would pay $50 extra on your Master Card this month. This would continue until that bill was completely gone.
4. Next, focus on paying down your second bill, and so on. Just keep this process up. Whenever you pay down the first, then focus on the second, third, fourth, etc... The main thing is to FOCUS on one credit card at a time. Of course, continue to make you minimum payments on everything else that is required.
5. Once you have paid off all of your credit cards, then celebrate! Maybe you could take a little vacation somewhere and actually pay cash! You will no longer have a bunch of minimum credit card payments each month.
By using this system, most people can pay off their credit cards in a matter of months, not years. What plan do you currently have to get out of debt? If you don't have one, then try this. You'll be glad that you did.
If you would like to learn more about the focused payoff method, then I'd recommend you check out the resource below:
Credit Card Payoff - Discover the #1 debt elimination course that has helped over 300 people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
1. Get out a sheet of paper and list your credit cards. Arrange your debts from the smallest balance to the largest balance. For example, you would list Master Card $500, Visa $1,000, and Discover $2,000. This is the order that you'll pay down your debts.
2. Find some extra money to pay down on debts. You can do this by either cutting expenses, earning extra money, or doing both. Let's say that you find $50 a month that you can put towards debt elimination.
3. Focus on paying down your first bill. So in our example, you would pay $50 extra on your Master Card this month. This would continue until that bill was completely gone.
4. Next, focus on paying down your second bill, and so on. Just keep this process up. Whenever you pay down the first, then focus on the second, third, fourth, etc... The main thing is to FOCUS on one credit card at a time. Of course, continue to make you minimum payments on everything else that is required.
5. Once you have paid off all of your credit cards, then celebrate! Maybe you could take a little vacation somewhere and actually pay cash! You will no longer have a bunch of minimum credit card payments each month.
By using this system, most people can pay off their credit cards in a matter of months, not years. What plan do you currently have to get out of debt? If you don't have one, then try this. You'll be glad that you did.
If you would like to learn more about the focused payoff method, then I'd recommend you check out the resource below:
Credit Card Payoff - Discover the #1 debt elimination course that has helped over 300 people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
Subscribe to:
Posts (Atom)
