3 Ways to Build Intensity to Crush Your Debt

Paying off debt is a fairly simple process that for the most part needs no instruction.  If you want to be normal when it comes to debt you can just simply make the minimum monthly payment and over time the debt will be paid off.  Unfortunately, the downside to this approach is that it will take you longer (much longer in most cases) and cost more in interest than any other approach to paying off debt.

For example, if you take the average U.S. household that has a credit card balance of $6,929 with an average interest rate of 17.68% making minimum monthly payments it would take 184 months or 15 years to pay off the card!  You would also pay $6,204 in interest.  So that $6,929 would end up costing you $13,133.  Can you begin to see why credit card companies are so profitable and why they want to lure you with points and other enticements to use their cards for every purchase you make?  You didn’t think they were doing that stuff just because they...

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