Bullion Capital Club
Debt Elimination Strategy
Debt is the number one enemy to a sound financial plan. Most Americans are spending up to 35% of every dollar they earn just to pay the banks and credit card companies interest on everything they think they own. You cannot be financially FREE as long as the credit institutions have a siphon hose inserted in your wallet.
Think for just a moment. If you were to earn exactly $40,000 per year for 40 years, you would receive over $1.6 million dollars during your working lifetime. By paying the banks 35% of that amount, you will have given them $560,000 just to pay interest on all of your credit purchases. $560,000 divided by 40 years = $14,000 per year. This reduces your $40,000 income to $26,000. But that's not all folks.
Americans are also spending over 52% of every dollar they earn on all of the various taxes being levied by state and federal governments. This reduces your $40,000.00 of income by $20,800.00. And that's still not the end of the story.
When you subtract another 10% from your $40,000 income to pay for all of the various types of insurance to protect your property, your $40,000.00 is further reduced by $4,000. Now let's add up the numbers to see whats left over for you.
$40,000 minus $20,800 taxes minus $14,000 interest minus $4,000 insurance and you have $1,200.00 left to spend on food, clothing and fun. Now you see why you are using credit to buy everything. This is also why you feel like a financial slave.
Eliminate your credit cards and use your cash to pay off your debts.
The BCC Strategy for Eliminating ALL of your Debts
Step 1. Make a list of all of your debts starting with the lowest to the highest balance. Begin by paying the minimum monthly payment along with any extra money you can generate to pay off the debt more quickly. Continue making minimum payments on all of your other debts while you are paying off the first debt. This will maintain your good credit scores with the credit reporting agencies. There is no need to destroy your credit scores.
Step 2. After the first debt is paid in full, take the money you were paying on that debt and add it on top of the minimum payment on the second debt on your list. Once the second debt is paid off, take all of the money you were paying on that debt and add it on top of the next debt on your list. Continue this process until all of your high interest credit cards, and revolving debts are paid to a ZERO BALANCE.
Step 3. After you have eliminated all of the above debts, use the money you were paying to all of them, and add it on top of your minimum monthly mortgage payment. This is how you get to the debt free zone as quickly as possible. Once you are no longer burdened with monthly payments, you will have plenty of cash to pay for what you want and at the same time have some money left over to invest for your retirement years. The chart below demonstrates how much time and money you can save by paying extra amounts over and above the minimum required payments.
The cost of a $10,000 credit card that charges 21% interest.
Monthly Payment Amount
Needed To Pay The Credit
Card To a ZERO BALANCE
Number of Years To
Pay Off The Card to
a ZERO BALANCE
Amount You Pay in the Stipulated Number
$ 199.94 ->
$ 228.13 ->
$ 270.54 ->
$ 376.76 ->
$ 513,86 ->
$ 931.14 ->
By participating in the Bullion Capital Club, you can earn all of the extra money you need to pay off your debts in the shortest posssible time. And given the choice, wouldn't YOU rather have the money ?
To learn how you can eliminate your home mortgage in two years or less, click on: