With interest based debt...it's alot easier and you save more money by first building a 6mth-1yr emergency fund. Then, say you owe $2,000 on a credit card. Find the extra $200 dollars(not plus the the minumum due)...BUT..don't use that money to pay. Put that $200 in savings every month and pay the min payment as close to the beginning of the mth as possible..as interest accrues daily. Save for 10 mths or whatever..then ask ur lender for a payoff amt and wipe it out. You save on ALOT interest.
For everyone commenting about "omg 12% !@&%, the whole point of this video is not that you can get 12% interest, its that you can save thousands of dollars by simply paying off your debt., do the math, even if you were to get 0% interest you would still make over $100,000.00 if you had paid off your debt sooner in that scenario.
@Eagle109 he was talking about a stock fund not a bank account.. now if you want to get paid to pay your bills check out my free video,at my channel if you want 12% check out how I play ibm using leap call options or US bank pure stock or swhc pure stock. MY videos are free ..feel free to ask questions in the comment section.
That's right you sold your guns and God was pleased!!! No killing of human beings, but killing of credit cards, and debt!
JPNJ238 10 months ago
With interest based debt...it's alot easier and you save more money by first building a 6mth-1yr emergency fund. Then, say you owe $2,000 on a credit card. Find the extra $200 dollars(not plus the the minumum due)...BUT..don't use that money to pay. Put that $200 in savings every month and pay the min payment as close to the beginning of the mth as possible..as interest accrues daily. Save for 10 mths or whatever..then ask ur lender for a payoff amt and wipe it out. You save on ALOT interest.
Rototill27 1 year ago
I wiped out a 5 year car loan in a little bit shy of 2 years using this method.
Rototill27 1 year ago
For everyone commenting about "omg 12% !@&%, the whole point of this video is not that you can get 12% interest, its that you can save thousands of dollars by simply paying off your debt., do the math, even if you were to get 0% interest you would still make over $100,000.00 if you had paid off your debt sooner in that scenario.
ev1lcupcak3 1 year ago
12 % ??? Where is this. Is buying realestate and getting rental income or flip returns
100000
1200 per month rent
12%
Obviously there are property taxes involved but you get the write off on income anyway
TakeBK 2 years ago
Wait! First tell me where I can get 12% interest on my money.
Eagle109 2 years ago
A good "growth stock" mutual fund. You can find many that average over 12%. Remember this is long term...5 or more years.
scottatjoy 2 years ago
@Eagle109 he was talking about a stock fund not a bank account.. now if you want to get paid to pay your bills check out my free video,at my channel if you want 12% check out how I play ibm using leap call options or US bank pure stock or swhc pure stock. MY videos are free ..feel free to ask questions in the comment section.
tbaarr 1 year ago
Great video, thanks! I didn't understand what you meant at the end about give to a kingdom.
kthduke 2 years ago
Kingdom of God....things that glorify God and help people and spread His message of salvation through Jesus Christ.
TheTomidu 2 years ago
you dont close the accounts u leave them open
juiicyjammin 2 years ago
Very well presented. Thank you!
blessedmommy4x 3 years ago
Awesome!
mw4205 3 years ago