So, are you keeping on top of your New Year's resolution to get out of debt? What if you received a large tax return (thank you kids)? What would you do with it if you have debt? Would you go out and purchase something that would potentially get you into more debt, or would you go purchase something that you've been wanting for a long time, or would you put it towards one of your debts?
Well, if you look at the action plan below for my financial situation, what would you do? As you can tell, the program is prompting me to transfer $6,802.05 to my MBA loan. This is all based on my income, expenses, balance of my loans, interest rates, time to pay off debts, etc. Because I know I have 1.7 years to pay off all my debt based on following the program, I plan on following this recommendation. Can I choose to put my money towards a new entertainment center, tools, etc? Sure, but I have a goal, and that goal is to be debt free, and if I were to spend my money on something else, then the time it would take to pay off my debt would obviously increase, and if I kept doing that each time I earned extra money, or a bonus, etc, I would never end up paying off my debt. I can't wait to be financially free and this program will help me get there. It's nice to have a plan of action, and to have a program tell me, down to the penny, how much I should put towards debt to get out of debt in the most mathematically way possible.
Watch the following videos to learn how you can get out of debt too and finally become financially free!
Shane D. Sorensen, MBA
Hi. Thanks for checking out my blog! I decided to blog my experience with the Money Max Account while offering other helpful, financial advice. I hope what I share proves useful.