WHAT ELSE CAN WE DO? HERE ARE SOME SOLUTIONS

Will You Survive The Coming Financial Crash 31
© 2005 Kent Daniel Bentkowski
behind the sigil (symbol or logo) on the card itself. This is why every single credit
card has built-in, the idea of the minimum payment. With the customer taking
advantage of the minimum payment scheme, the cost of acquiring the goods
purchased with the card increases considerably. That is why all intelligent people
live within their means, and pay off the entire balance due when the monthly bill
arrives.
No matter if you cannot pay off the full balance --- never pay only the minimum
due! Sending in only the minimum due is like sending in no payment at all, because
the interest on the card builds up much faster than you can ever hope to pay it off.
This is exactly why they want you to do just that, so they can collect more and
more interest. They don't care how long you take to pay, as long as you do pay the
full amount, plus interest. It's all pure profit to them anyway. As long as you are
willing to keep putting off the final payment, they will be more than happy to
compound on a daily basis, all of that interest you owe!
Once the reader is in the habit of making only purchases that are needed, paying
off the monthly balance on their credit cards is extremely easy to do. This limits the
interest that is paid, because of the combination of compounded-interest and the
minimum payment, it is possible for a person to extend the length of time that it
takes to pay off the balance due. In using a $1,000.00 balance due as our example,
it would ultimately take thirty-years to pay off that thousand dollars, with the
amount eventually including up to $4,000.00 in additional interest.
Once this discipline is instilled, the reader may find themselves cursing the many
unnecessary dollars that were readily handed over to the banking elite. Once this
occurs, it is relatively easy to use this as your ongoing policy going forward. And,
the grand irony here is that the more interest money saved, the more money one
will have to purchase the things they truly enjoy!
· Pay off your home-mortgage as quickly as possible!
All home-mortgages feature front-loaded interest, which means that the bank
makes their profit before the entire principal balance is paid. This is repugnant
behavior, and it is the reason why I refuse to participate in such a scam. But, what
does one do if they are already involved in this rip-off of monumental proportions?
Well, this answer is simple as well, but the mortgage contract will need to be
investigated to formulate the reader's response.
What the reader needs to do is consult the mortgage contract to see how extra
principal-only payments can be made in addition to the interest payments.
Typically, an extra one-hundred dollars or more per month can be submitted with
the monthly payment, an act which can shorten the length of the outstanding loan,
and save tens of thousands of dollars in the process. What you are looking for are
principal-only payment options, and if you cannot locate this in the mortgage
contract itself, please consult your lender for instructions on how this can be done.
What you are asking for are instructions on how you can make a principal-only
over-payment --- and while the banks do not necessarily like people doing this --- I