the truth behind your FINANCES!

Written by Jay Ball


Continued from page 1

Another mistake people make is to fall intorepparttar trap of ‘false economy’. They begin withrepparttar 129501 right intentions by searching for a lower rate of interest for their mortgage. What this means is that their monthly payments become lower. The mistake they make is to think they’ve got more money in their pocket. In affect this is a false economy. Instead of settling for more money in your pocket and still enduring a 10 year (or whatever) term loan ,why not use this extra money to increase payment onrepparttar 129502 capital of your loan?

This simple technique is called ‘Mortgage Acceleration’ The Banks and Building Societies know all about Mortgage Acceleration they just don’t mention it because it loses them lots of money in interest payments!

If you increaserepparttar 129503 capital payments of your mortgage every month you’re paying offrepparttar 129504 entire loan quicker. If you can shave 2 years off your loan you’ve not only shortened your mortgage by 2 years you’ll have saved yourself a packet in interest charges. A 25-year £50k mortgage repaid 16 years early could save you over £60k in interest! (dependant onrepparttar 129505 interest rate) Ask your Bank or Building Society about ‘Mortgage Acceleration’ and seerepparttar 129506 look of loss on their face!

Don’t settle for a lower rate of interest and extend your loan payments thinking that you’re saving money, you’re not. You are only extending your debt! You need to pay off this loan as quickly as possible whilstrepparttar 129507 interest rates are low. The longer you take to pay off your mortgagerepparttar 129508 more interest raterepparttar 129509 Bank or Building Society will take from you. Whilstrepparttar 129510 interest rate is currently around 5% accelerate payment NOW and save even more money! Take advantage ofrepparttar 129511 fact that ifrepparttar 129512 interest rates are currently low thanrepparttar 129513 amount of interest that you pay on top of your loan will be also low. If you can afford to increase payment whilstrepparttar 129514 rates of interest are low than I urge you take advantage of this immediately. If there is any way that you can accelerate your loan and pay it off early than I would strongly advise you to begin your financial organisation here and organise this today. A simple increase of £50 per month in mortgage payments will save you money in interest payments inrepparttar 129515 long run. Your first step to taking control of your financial world is to pay off all of your existing debts as quickly as possible. When you have no debts, you’ll be financially free and you’ll feel as if a huge weight has been lifted from your shoulders.

POSITIVE PLAN OF ACTION:

Contactrepparttar 129516 bank or building society that you have your mortgage with. Ask for a final settlement figure on your mortgage and also enquire intorepparttar 129517 current interest rate that you are paying. Chances are that if you’ve not checkedrepparttar 129518 interest rate you are currently paying inrepparttar 129519 past 12 months than you could save yourself money immediately by choosing a better deal. There are currently plenty of lenders all willing to offer you competitive deals on your mortgage and I would advise you to check them all out before you commit yourself to one. A simple saving of 1% in interest can save you pounds every month. With this saving in interest payments, use this extra money to increase your capital payments. If you only manage to shave a year offrepparttar 129520 length of your mortgage it will be one less year that you are in debt and one year sooner to becoming financially independent.

Talking of your mortgage, if you currently have an Endowment policy running alongside your mortgage than investigate this policy thoroughly. Most endowment policies are useless in today’s interest market. What this means is that when your mortgage term ends there may be insufficient funds in your endowment policy to pay off what you owe torepparttar 129521 lender. If this is true than your lender will be knocking on your door for this short fall. If you can’t afford to pay than you could lose your home after 25 years or more of payments! Recently I read that some Endowment policies were running a short fall of up to £13000! If this happens to you you’ll owe your lender £13k plus interest!

The smartest mortgage you can take is a straight ‘repayment’ mortgage. As well as payingrepparttar 129522 interest back to your lender you are also payingrepparttar 129523 capital off fromrepparttar 129524 offset, therefore reducingrepparttar 129525 total amount you owe quicker. My advice is to accelerate your mortgage and pay it off as quickly as possible beforerepparttar 129526 interest rates sky rocket and your payment doubles or even trebles. Whenrepparttar 129527 tide turns (and it will) you’ll be smiling inrepparttar 129528 content that you own your home and you own your car and nothing can take these away from you.

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These ideas have been taken from Jay Ball’s brilliant ’10 simple seeds to success’ 334 page paperback book, 12- hour CD course, and 334-page e-book.

Jay Ball is a recognised Success Mentor in the UK. His visions and inspirations have helped many accomplish amazing results. Jay Ball is the author of '10 simple seeds to success' and 'Believe & Achieve' Check out his website and download over 8 hours of FREE self-development seminars! www.successacademy.co.uk


What Do You Want This Year?

Written by Angie Dixon


Continued from page 1

But I think there’s another aspect to “Christmas spirit.” I think it’s spiritual. And don’t close your screen on me because I said spiritual. I didn’t say religious, because it’s not. I think it comes from our souls.

I think deep down, each of us has a spirit that wants to be expressed. And I think at Christmas, when we’re naturally thinking of others, that spirit is more easily expressed. I think if you want to, you can have a spiritual Christmas. You can feel loving, caring, generous. You can feel like a kid at Christmas, just by opening up to your spirit.

So what do you want this year?



Angie Dixon helps small business owners get their acts together. She is a personal development coach specializing in helping people integrate their home and work lives so they feel less stretched and more balanced. Get her FREE EBOOK on balance at http://www.discoveringtruenorth.com. For questions or to discover how coaching can change your life, contact Angie at mailto:angie@discoveringtruenorth.com.




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