Yes it is possible to be debt-free. Let us help you see the light at the end of the tunnel. Also be sure to check out our complete guide to getting out of debt.
Do you know the total credit card debt of the United States population?
793.1 billion dollars.
Now you know. And now you have a sick feeling in your stomach. At least, I do.
Does that mean credit cards are evil? Nope.
It just means people are
That’s the problem. Here’s how to fix it…
If you want to be debt free, you need a strategy. A method.
The average US household has $54,000 in credit card debt.
You need a plan. You really do.
The good news is that you have more than one option.
There are several ways to get out of debt, but the two most used ways are called the debt snowball and the debt avalanche.
Let’s look at the differences and see what works best for you…
There is a difference between being broke and being poor.
Broke is a temporary states of finances.
Poor is a mindset.
Before you go on, promise me you will never refer to yourself as poor again. Even if you feel like you are.
You may be broke, but you’re not poor.
Here is why you may be broke and how to stop it…
I have covered buying vs. renting…twice actually.
Then I moved on to answering the question: Is it dumb to pay off your mortgage early?
After that, I wrote about everything you need to know before you pay off your mortgage early.
Today I am giving you strategies for doing exactly that. Paying off your mortgage early.
As promised, here are 3 quick strategies to pay off you mortgage faster than you ever thought possible…
Today is the 2nd and final part in this series.
If you missed part 1, you can read it here.
One of the discussions that came up in part 1 was about investing instead of paying off your home early.
It’s a common perspective that you shouldn’t pay off your mortgage early, but you should invest the money instead.
It makes sense, because mortgage rates are low right now and you can probably earn more by investing than you can save by paying off your home early, but there is actually a way to take advantage of both!
It’s not always about having the highest return, sometimes it’s simply about being totally 100% debt-free…which is an amazing feeling.
Soon I’ll be publishing an article on how to get the best of both worlds, but for today, here is part 2 of what you should know before you start paying off your mortgage…
“I’m in debt. I am a true American.” -Balki Bartokomous
It’s true. Just about every person in American (and much of the world) is in debt.
We are so used to it that we even consider ourselves to be debt-free when we still have a mortgage.
You know how it goes…
“Yeah, I’m debt-free…well, except for my house.”
If you have a mortgage you are not debt-free.
But you can be…
There is a lot to know before you start paying off your home early…
Last week, we compared renting to buying.
I wrote about powerful strategies for paying off your mortgage early.
That’s for those of you who decided to buy.
But, before you decide to pay off your mortgage early, you need to ask yourself a very important question:
Should you pay your mortgage off early?
Some people believe paying off your mortgage early is dumb. Let’s see why they think that…
You know the books that are hard to put down.
I mean…you know you should probably be working on a project or doing some household chores, but…the book is just so good.
And you will just read one more page…okay, maybe one more.
Before you know it, you’ve finished the book…in one sitting.
It’s happened to me. Actually, it happens all the time.
With other books, you will find that once you put it down, it’s hard to pick it back up again.
What makes the difference? What makes a great book…great?