Copyright 2003 by Henri SchaufflerAll families and home biz owners have to think about debt, finances, bills and income almost every day. There is no reason to be overwhelmed by something that can actually be CHANGED. How?
This article will show you how to:
* Eliminate all of your debt (including your mortgage) in 5 - 7 years * Take control of your finances * Become financially independent (the dream of most Americans) by retirement.
The First Step is to get a copy of your CREDIT REPORT. In it you will find your entire credit history. It may be shocking to you, but it will be revealing. I suggest that you do it today. At
bottom of this report is a link to help you get started.
The Second Step is to make a list of all
debts you have using
"ROLL DOWN SYSTEM." This is a powerful but little known system that will allow you to pay off all your debts, including your mortgage, in half
time or less than you may have thought possible.
Start by calculating
entire amount you are spending on all debt payments each month, including your mortgage. Then list
credit cards, credit lines, car loans and other short term debt, from
smallest to
largest. From this time forward, simply spend
same amount each month to service your debt you have always spent. Here’s
secret to accelerated payoff...
Once you have completely paid off your first debt, DO NOT begin spending
amount of
payment – add it to
payment of
next debt on
list! As each debt pays off, continue this process. In a year or two, you will get to...
Your MORTGAGE! But now you have considerable extra money to pay each month. Using this strategy, you should be able to pay off all your debts, including your mortgage, in 5 – 7 years! So, after you pay off everything, you can begin living
life of Riley, right? NO!