Posts Tagged ‘business’

Simple Strategies for How to Pay Off a Mortgage Quickly

August 5th, 2011

Of all the bills you pay in life, the interest on your mortgage is probably one of the biggest. Taking even small steps today to pay off your mortgage quickly can save you a ton of money over the life of your loan and get you out of mortgage debt much faster – which means you’ll have a lot more money to invest in your retirement, college funds, or use for fun stuff.

There’s a reason the tallest towers in America’s major cities are often occupied by banks: lending money long-term is extremely lucrative. For example, just the interest on a $200,000 30-year fixed mortgage at 6% is a whopping $229,528 over the life of the loan! Including principal, this $200,000 loan will cost nearly $430,000 to repay over 30 years. I don’t know about you, but I can think of a lot of other things I’d rather do with $430K than send it to my banker.

Learning how to pay off your mortgage quickly could put thousands – or tens of thousands – of dollars in interest back into your pocket that might otherwise have gone to your lender. If you’re interested in finding out how to pay off your mortgage quickly, the following are some simple yet effective strategies you can implement today.

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Financial Success

June 25th, 2011

When people start thinking about making money and becoming wealthy it is normal for them to start thinking big. Please note that you have to dream big but when it comes to implementing your dreams into action, you need to start thinking small. Financial freedom is a goal that a lot of people strive for but never achieve because they think too big.

There are millions of ways of making money. Some of these are easier than others. If I tell you that I have this great new product that replaces a car because, instead of you driving it, it drives itself and also fly above traffic and get you there in no time. Because this is such an amazing product it costs $2 million. Now this is a good price but how long will it take you to get this sold? To get a buyer with this massive amount of money available and that is satisfied to buy, is going to take a while. Let’s say that it takes you 1 months to sell this and you make a profit of $10 000.

Now let’s take another example. If I give you a product that is a new type of headphone that works wirelessly, where you only have to put the earpieces into your ear and not need to plug it in. This product cost $20. You can sell this quite quickly. Most probably within an hour you can sell this product and make $10 profit.

Now looking at the two above mentioned examples, how many cars can you sell that fly and that people are willing to pay $2 million for? And how often will you make a profit of $10 000? Compared to the headphones which if you work at it, you will sell a lot of these in a short time. If you sell one car a month and a 33 headphones a day by selling them at subway stations then you are making the same profit.

» Read more: Financial Success