September 30, 2009
The average American household spends 35 cents of every dollar it brings in on paying interest to someone else. Your interest might be accumulating on a car loan, boat loan, credit card debt, student loans, or all of the above. However you slice it for every dollar you make you lose 35 cents and you will never get it back.
Here is a simple example of how much money we’re really looking at: if you make $50,000 a year you are missing out on $17,500 that is being used to pay someone else the interest you owe them. Its no wonder why becoming your own bank can be one of the most beneficial things you can do for your financial future. Why not pay yourself $17,500 instead of seeing it slip through your fingers, never to be seen again?