I have heard of a thousand different ways (and/or) to pay off debt early, but my parents have found something new and innovative, and quite frankly pretty amazing! I am a skeptic when it comes to stuff like this and I have seen it in action!
What would any of us do with the money we use to pay our mortgages, car payments, credit card payments, school loans, whatever?!?!?!?! I don't have a mortgage yet, but when I do, I plan on giving the bank as LITTLE interest as possible! I ran pretend numbers for when I graduate including a car payment, a mortgage and my school loans (my only debt at this time) ~ if my numbers are even close to accurate, it will be a total of over $300K in original debt (not counting interest!!!) I will have all of it paid off after 5 years and will keep $190K that I would otherwise had to have paid in interest. And after 5 years I will have those payments to do with whatever I please ... like send Ian to Yale (or whatever school he wants to go to.) How cool is that???
I am way excited about it!!
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