The Snowball Effect (Continued)

Thought for today: The term “time value of money” means that each payment applied to a loan’s principle amount (the amount before interest) will slightly reduce the remaining interest payment.  It shortens the life of the loan a bit more each time you pay an extra amount. Paying off the highest interest rates first makes the most sense.  Making […]

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The Snowball Effect

Thought for today: After we stabilize our spending, and have been fully tracking and reviewing our numbers for a while, we will want to begin setting aside a small amount of money toward a prudent reserve fund, and toward debt repayment.  The amount we put aside is not important – what matters is that we […]

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Debtors Have Rights!

Thought for today: Sometimes the notices you get in the mail are actually good!  For instance, say, as a hypothetical example… a bank is found guilty of breaking the law… Money gets returned to the debtors who borrowed from them… A member shares: “I can’t believe it!  The system works!  My debts got sold so many times I was getting calls from companies that […]

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How to Get Rich

Thought for today: Getting rich the program way is not about luck, or leveraging debt.  It is about setting up circumstances where wealth is more likely, where your needs are taken care of first. We all know that riches aren’t measured purely in money.  That’s fantasy.  And circumstances like illness or caring for others can […]

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