How It Works
Debt freedom is all about lifestyle. You can have a great income, a nice home in the right neighborhood, smart kids who go to the best schools; but as your debt grows, your options shrink. Consider the impact ‘normal debt’ has on the average family. Then let us show you how to free yourself from debt and Live. Interest Free.
Let’s Look At The Problem
Introducing the ‘typical’ American family. Happy, successful, professionals making a monthly income of $7,000 between the two of them. They had 3 young children and had not started saving for College. They had about $42,500 in savings and were contributing $300 a month to a 401k.
Between a mortgage, car payment, medical and dental, some credit cards, and a bit of lingering student loans, they had a total debt of $180,198 and were paying $2,177 per month to manage it.
Their Real Debt
With their current payment schedule, they would be in debt for 30 years before everything was paid off (and that did not include the cost to put their kids in College). Over that time, they were scheduled to pay $199,960 in interest. So their REAL debt – amount owed plus interest – was:
How We Helped
The first thing we did was show them how debt was impacting their lifestyle:
- 30 years to pay off existing loans
- They will pay $118,155 in interest on those loans
When they decided to Live. Interest Free
- They freed up $2,177 per month for College savings and retirement
- At their original debt free date, they now have $941,791 of tax-free savings!
- They did not spend one penny more to change their lives
- No special loans or consolidation plans
- No bankruptcy or bail outs
- Saved over $100,000 in interest payments
- Tax-free savings available for the future