Is your money, your money?
For most Americans, their two largest expenses are debt and taxes. Monthly interest paid on debt consumes approximately 34.5 cents of each and every dollar earned and taxes consume between 20 and 30 cents. As a result, we have limited control over 54 to 64 cents of every dollar we make. This is just the average, and does not include additional spending on items; such as, a second car, a motorcycle, or purchases at the mall.
What does debt do?
Debt actually enslaves the money we make:
*Mortgage financing: up to 90% is front-loaded interest.
*Auto financing: 20-25% of every payment is interest.
*Credit cards: up to 70% of minimum payment is interest.
These debts take the control of money out of our hands.
What is the result of this debt in our lives?
90% of Americans are either broke or still working at the age of 65. All of the money made has slipped through their fingers and they have little to show for a lifetime of work. Money has been spent paying for the results of debt rather than providing for retirement.
What can be done?
Is there any way to keep more of the money we earn? How do we stop the cycle of sending our money to others? The answers can be complex because of the number of debts and variety of interest rates involved. Debt consolidation might be useful, but debt elimination is most important. Eliminating debt is the easiest way to give yourself a 35% pay raise.
Our goal is to help you keep your hard-earned money for yourself. By eliminating debt, you regain control over your money. Once you free it from going to others, only then will it truly be YOUR money.