There are many ways to achieve these results, and a million people out there talking about it which I found very annoying, so I created a training that is completely free that you can go through which will teach you all you need to know.
Much to my surprise, a solution exists and it is as easy as basic math.
Implement and be consistent.
This is the exact same formula we were asked to design and provide to the employees of NASA and nearly every person who has seen it rated the information a 10 out of 10. You can’t go through life without knowing this method of managing your income and expenses.
I submit the argument that the key to financial security and comfort is CASH FLOW. Personally I define cash flow as the difference between what you EARN and what you SPEND each month.
The most accurate version of cash flow is averaged because it includes periodic expenses like insurance & repairs that occur less frequently throughout the year.
There is a very simple 7 point system that will allow you to significantly increase your cash flow AND pay off all mortgage and non-mortgage debts in a fraction of the time.
This is the same 7 point system that I was asked to provide to the employees of companies like NASA, Chicago Title, and RE/MAX to name a few. It is a bullet proof process if you follow it.
Step One: Define your top 3 to 5 financial goals for the next 5 years.
This should be done individually and cross referenced with your significant other.
Step Two: Complete a Cash Flow Cruncher.
This is a comprehensive budgeting spreadsheet we designed for our clients which I am happy to provide for you at no charge. It generally takes about 30 minutes to complete.
Step Three: Review your starting cash flow and FICO credit scores.
For some this is an eye-opener. It's important to know where you're starting and where you want to end up in order to create a realistic map.
Step Four: Identify Debt Weapons.
If you're like most you've never heard of this term before. Debt Weapons are tools provided both in and out of banks which allow you to achieve several very beneficial results. Visit www.DebtFreeWebinar.com to learn critical details about Debt Weapons and how they work. Debt Weapons are available to everyone, you just need to know Which to get, Where to get them, When you should pursue one, and Why you should get it/them. Until you can answer those 4 questions, you should not attempt to access one.
Step Five: Pay off all your non-mortgage debts first.
This process should be very strategic. There are several processes available to do this, however the process I've seen work most successfully is to consider 4 very important factors.
- Target Rates
- Types of Accounts
- Interest Rates
- Impact to Credit Scores
Step Six: Begin to Pay off mortgage debts.
There are several effective ways to accelerate the elimination of mortgages. Many people have been taught that mortgages can be considered 'good debt'. In a way that is true, however, it is also true that every single client I have ever consulted who is experiencing any level of financial discomfort has debt. It is a fact that over a traditional 30 year mortgage you will pay substantial amounts of interest, regardless of your interest rates. It is also a fact that there are easy ways to counter this intentional result designed by the banks without sacrificing your lifestyle.
And the most disappointing fact of all is that you have likely not been taught these techniques at any point of your life.
To see exactly what I'm referring to, visit www.DebtFreeWebinar.com and watch the free training. It will change your life.
Step Seven: Cash Flow Stacking.
Cash Flow Stacking is a process we designed which shows you a simple way to simultaneously build assets while quickly paying off liabilities. You will achieve your goals far more quickly when you follow these 7 simple steps. It just requires action.