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Money Merge Account – Using the Banks Own Math Against Them to Eliminate Your Debt
The single key factor that keeps most people in debt and paying off credit cards or making mortgage payments for 30 to 40 years is the ugly, but profitable, effects of compounding interest on loan balances. It’s these balances that banks calculate interest and finance charges on daily that are holding you back from debt elimination and financial freedom. This compounded interest is what is putting banks and lenders out of business, but the good news is that you can use the same math that banks use to make a profit and turn the cards in your favor to help you pay off the your interest mortgage or debts faster. This process can be accomplished by setting up what is known as a money pooling account.
What is a money fusion account?
A money pooling account is a system that can be used to reduce the daily balance of any loan which will have the effect of reducing the interest on the loan, which in turn will allow for a faster payment due to less interest owed and more money. applies to the director. These accounts are usually set up through a HELOC or home equity line of credit, which is basically, in the simplest terms, a credit card-like line of credit secured against the equity in your home.
How does the money merge account system work?
What happens when you set up one of these accounts is that you start depositing money into a regular checking account. You would then transfer it to the combined account and tell him how much was deposited. You would then adjust the additional amount to be applied to your mortgage or loan balance each month based on your situation and pay your bills as normal. The effect of using this system will allow the interest rate to be reduced daily.
This system can be implemented with math and paper, but unless you’re really good at math and keep perfect records, you’re better off using software to calculate the complex algorithms and keep records of your income and expenses.
But I heard it was a scam…
Unfortunately, the money merge account system has gotten a bad press from people who either don’t understand how it works or are just trying to protect their own financial interests.
The actual concept of the system has been around for a long time and originated in Australia. Thousands of people around the world have used it for mortgage acceleration and loan prepayment.
Part of the reason it gets a bad rap is that one of the main promoters of the system is an MLM company called United First Financial or UFF and people associate MLM with ponzi schemes or scams so many are quick to judge based on the MLM model. of distribution
United First Financial isn’t the only company that offers the software needed to do the calculations. They charge $3500 for it, but it can be had for thousands of dollars less from smaller competitors with similar systems.
There are some pros and cons to using a money blending account. Using simple math shows that the system works on paper with its interest-reducing power, but for some people it may not be an option if they can’t keep tight control of their money, especially if it’s available from free way to spend. For those who are interested in paying off their mortgage or debt as quickly as possible and are disciplined enough to control their monthly budgets and cash flow, a money pooling account should be an option at the table to examine it if you are interested. mortgage acceleration or debt relief schemes.
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