For motivated individuals who want to become debt free, The Mastermind Within Debt Destruction Tool will help you take control of your financial situation, pay off your debt, and get on to financial freedom. We promise you will save $1000s in interest payments with our FREE The Mastermind Within Debt Destruction Tool.
Save 1000s in Interest Payments
What would it feel like to be debt free? What would you do with the extra spending money? Think about the peace of mind of not having to deal with that pesky loan from years ago!
The Mastermind Within Debt Destruction Tool will provide you with an exact method to get you out of debt in less time, and save you 1000s in interest payments.
The average American Household has over $100,000 in debt. By paying just an extra $100 a month and applying the strategy determined by The Mastermind Within Debt Destruction Tool, you can shave off months in debt payments and save money.
“Wealth is the ability to fully experience life.” – Henry David Thoreau
What You Will Get
The Mastermind Within Debt Destruction Tool is an Microsoft Excel Spreadsheet which will take your debts and budget, and automatically calculate your interest savings using two debt pay off methods: the Debt Avalanche Method and the Debt Snowball Method.
The Debt Avalanche Method
In the Debt Avalanche Method, you pay off your debts by paying extra towards your highest interest rate debt. Once you have paid off the highest interest rate debt, you put that payment towards the next highest until all debt is paid off.
The Debt Avalanche Method is the mathematically optimal debt pay down strategy.
The Debt Snowball Method
In the Debt Snowball Method, you pay off your debts by paying extra towards your smallest balance debt. Once you have paid off the smallest balance debt, you put that payment towards the next smallest until all debt is paid off.
Many people like the Debt Snowball Method because psychologically, you can see your debt accounts disappear. If you have an $1,000 loan and a $5,000 loan, it feels good to have the $1,000 loan gone.
The Debt Snowball Method is not mathematically optimal, but is still better than applying no strategy at all.
For the example below, our user had 2 credit cards, a mortgage, an auto loan, and a student loan totaling $246,500. By paying an extra $25 a month and applying a debt pay down method, they have potential savings of at least $49,915!
Finally, on the final tab, you are shown the order of debt paydown and total cost of the two methods. Looking at the left hand side of the figure below, you can see in the Avalanche method, we are paying off the highest interest rate debts first. Looking at the right hand side of the figure below, you can see in the Snowball method, we are paying off the smallest balance debts first.
There is also a table that shows the time until you are debt free and the total cost of your debt over that time period.We’ve included the statistics if you increase your extra debt payments by $100. The difference is fairly substantial just by paying an extra $100 a month!
In our example, the user started out with $246,500 in total debt. If no method was used, it would take 290 months (just over 24 years) and cost $371,109 to become debt free. By paying an $25 extra a month, the user is able to save nearly $50k, and chop off 140 months (nearly 12 years) off their payment plan! If the user could find an extra $100 in their budget, they could save an additional $12,000 and be debt free 158 months sooner!
It’s difficult to make a tool which will handle every single possible situation. As a result, there are some limitations on The Mastermind Within Debt Destruction Tool
- There is no functionality for floating rate debt products
- There is no functionality for adjustable rate debt products
Besides these two limitations, the tool does well across different debt products, interest rates, and balance sizes.
He Saved $7,607 and 112 months!
John, a client of ours, approached us with over $17,000 in credit card debt. He didn’t understand how he had got to this point and needed help. By using The Mastermind Within Debt Destruction Tool, we showed John he could save $7,607 by applying the Avalanche Method towards his debt.
If John hadn’t approached us and used The Mastermind Within Debt Destruction Tool, John would have spent 129 months paying off his debt. In total, he would have paid the bank over $26,000 in total. With his new debt pay off strategy in hand, he paid off his debt in only 17 months and only paid the bank just over $18,000!
As shown below, take a look at how John’s debt disappeared in 17 months by paying $552 extra a month and applying the Avalanche method!
What are your financial goals?
Do you want to buy a house and can’t save money because of your debts? Do you wish you could afford that vacation to Hawaii you’ve always wanted to go to but can’t? What about early retirement? Could you invest more if you didn’t have the pesky student loans, auto loans, or credit card payments?
“A man in debt is so far a slave.” – Ralph Waldo Emerson
I understand your pain. Being in debt sucks. The word mortgage is derived from a “Law French” term used by English lawyers in the Middle Ages meaning “death pledge“, and refers to the pledge ending when either the obligation is fulfilled or the property is taken through foreclosure.
When I was younger, I was making minimum debt payments of $432 a month. I was at the mercy of the banks. Once I strategically started to attack the debt, I was able to take control of my finances and my life. I became debt free after 2 years of using the debt pay down methods described above. Life is so much better as a result.
For you, the first thing to do is take charge of your situation. Taking the first step is the hardest – once you get going, you can accomplish anything.
Just imagine to be debt free. You could quit your job and start a business. You could take that vacation you’ve always wanted to go on with the savings you have built up. The possibilities are endless.
“The secret of getting ahead is getting started.” – Mark Twain
The Mastermind Within Debt Destruction Tool Will Help
The Mastermind Within Debt Destruction Tool will show you the exact methods to eliminate your debt faster and identify your possible savings.
If you have over $10,000 in debt, The Mastermind Within Debt Destruction Tool will show you how to become debt free in months instead of years. What would you do with $1,000 in cash savings? I can already feel the sand in my toes on the beach!!
Whether you decide to apply the Debt Snowball or Debt Avalanche Method, we know you will be on your way to financial success.
Become Debt-Free – Get The Mastermind Within Debt Destruction Tool FREE
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See the How to Use The Mastermind Within Debt Destruction Tool Guide for more information on the tool.
Refinance or Debt Consolidation Needs?
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SoFi can help by finding the best interest rates available in order to refinance your student loans. We are about helping and providing you with the best options to get to financial success. The best part is, SoFi is free!!! You also get a $100 bonus when you sign up with SoFi through the referral program.
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