3 Tips to Better Understand Interest Payments in 2024©
Welcome back!
This week we’re going to do a Vince Lombardi.
He won multiple championships, yet still reminded his team:
“Gentlemen, this is a football.”
You see, Mr. Lombardi was big on going back to the basics.
So…Friends, this is Interest:
Extra money you pay (at a certain rate) to borrow someone else’s money.
Extra money you pay to delay paying back somebody else’s money.
Extra money you pay that can be put into your pocket when your debts are gone.
3 Tips to pay attention to IN 2024
if you do not want to have INTEREST EAT YOU ALIVE!
And don’t you dare say it’s impossible
TO PUT MONEY BACK IN YOUR POCKET
WHEN YOU ARE SMART ABOUT INTEREST,
because it isn’t!
Each time money
goes away from you
- and does not return
more value back to you...
You should be working a plan
to stop that from happening.
2 Considerations to keep interest from biting into your cash:
The Interest rate should be one of your considerations
when prioritizing debt payoff
(UNLESS YOU HAVE SMALL BALANCES THAT WILL FREE UP MORE CASH QUICKLY).
Length of the loan
should be another consideration in your debt pay down prioritization plan.
Resource No. 1
We discuss these considerations
(AND MORE)
in my Free Debt Relief Workshop.
If you are interested,
just head over to my website,
click on classes at the top,
choose Free,
then choose Debt Relief Workshop.
It’s that simple.
And it won’t cost you a dime.
Small fluctuations
in interest rates
can make a big difference
in how much interest
you will pay
over the life of a loan.
Resource No. 2
Here’s an article that discusses this with real life examples: click the link below please:
It may be well worth your time and effort to call your creditors -
every one of them - to request a reduction in your interest rate.
Fear says, what if they won’t?
But, what if they will?
Go ahead. Call and find out.
Resource No. 3
In case you’re wondering
whether your credit score
has anything to do
with the interest rate you are being charged,
This article also discusses how to improve your credit score.
Decide today that
you are not going to
allow interest to eat you alive.
Resource No. 4
Resource No. 5
I also offer a deep-dive program I’ve entitled
Debt Relief and Budgeting Program.
You will have lifetime access to this program.
Once you have taken the program,
you can teach it to your kids!
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Head over to my website,
click on classes at the top,
choose paid,
then choose Debt Relief and Budgeting Program.
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As always, thank you for listening, watching, and participating.
Your Team at Dan the Budget Man.
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in spending money wisely
in your personal life and
in your small business life.
Romans 12:10
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