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Questions
Will I have to live like a Pauper?
Should I pay off my Negative Gearing Investment Loan?
Why do people need the Transforming Debt into Wealth Program?
Answers
Will I have to live like a Pauper?
You will have to adjust your behavior that got you into Debt, but you won’t have to live like a pauper. In fact most people find it’s their debts that cause them to live on a shoestring because after making their debt payments there is little or no income left to live on each month.
But after they have paid off their first few debts, they have money available for emergencies and other needs. The loan repayments are GONE!
Let’s face it, the definition of Insanity is doing the same thing over and over, but expecting a different result. If you continue using money the way you were, you will continue to get the same disastrous result. Using the Transforming Debt into Wealth© System you will change the way you think when making purchasing decisions. Before long you will be debt free and making investment decisions and not debt decisions.
That is not a dream, It Works.
Should I pay off my Negative Gearing Investment Loan?
Yes! That was easy. Suppose you are in the 30% tax bracket. So, for every dollar you pay in interest, the tax office will give you 30 cents back against your income tax. Lets just think about that. You pay out a dollar and get 30 cents back.
If you think that is a great deal I will give you 30 cents and you give me a dollar. That is silly you would lose 70 cents on the Dollar, Right?
Well that’s exactly what negative gearing is, you give away 70 cents on the dollar in the hope that one day the capital gain on your investment will exceed all of the interest you have paid, the fees, the Capital Gains Tax and the repairs, maintenance, rates and improvements you may have made to the investment.
It would be much better to pay off the loan, and pay the 30% income tax. At least you will get to keep 70 cents out of every dollar and then happily make your capital gain that is not going to end up in the lenders profit book.
Why do people need the Transforming Debt into Wealth Program?
Many families today are finding themselves "overloaded" with debt and they are looking for real answers from professionals they can trust. Non-Profit credit counseling organisations only focus on credit card and unsecured debt and they typically don't deal with the real problems or provide permanent solutions to credit spending.
Some loan consolidation and mortgage companies are advertising today, that they can get people "completely out of debt" when they are only focusing on lowering monthly payments and interest rates with various mortgage products and trading unsecured debt (credit cards) for more secured (mortgage, home equity loans) debt.
Furthermore, consolidation loans or consolidating debt payments, by themselves, do NOTHING to solve the consumer's real problem - addictive credit spending. In fact the statistics that many consumers who consolidate eventually wind up in worse shape months down the road. Having used the funds to pay the balances on high interest loan obligations, these consumers fall back into old habits and charge up their credit cards all over again. Loan consolidation only a short term and temporary benefit that oftentimes results in long term grief. The consumer needs to be educated and provided with support in order to solve their credit problems once and for all. And you will be able to blow away your competition by offering them a real solution to their debt problem - TOTAL DEBT ELIMINATION!