I want to thank you for reading this series and I hope that you find at a profit. The next step in the creation of wealth is the control of the growing debt that burns like wildfire. Connect all the small leaks, and is more money for the use you always wanted.

How often do you visit the vending machine at work, or go to a restaurant for lunch? How many times a day, drink a soda or a cold drink instead of water? Most people will find seven to forty-five dollars a week you can save by not doing any of the above guidelines.

The stop at the vending machine is considered a flight of “cash” that are not budgeted to pay the bills. Or go to a fast food meal for lunch, this can be a considerable boon of money saved by simply bringing a meal at home. The picture I’m painting is “to know where every penny of your monthly income is devoted to.”

For a month is sufficient to note the date, and how much is spent and where or what happened. For example, Monday, August 1 increased from $ 1.10 in vending machines. So next you write what happened Tuesday, August 2, and so on, for thirty full days.

You will be surprised what you discover. I know it was. I discovered it had lost $ 7.65 a week just the vending machine! This is in addition to the approximately $ 29 per month. What could you do with $ 29 extra per month? For some people, would be sufficient to be able to maintain a bill paid late, which cost more money in late fees. This is just one of many leaks to be plugged in to reach your financial goal.

Another step in the creation of wealth by eliminating debt is credit card and handle the payment schedule the best possible conditions. We will discuss as an example, you have three credit cards, plus a bank loan, all of which have balances on them. You have an American Express, Visa and MasterCard.
• American Express – are $ 3549.00 with a credit line of $ 12,500.00.
• Visa – have a $ 6000.00 credit line $ 19,000.00.
• MasterCard – is $ 20,000.00 with a credit line of $ 21,000.00.
• Loan Bank – $ 365.36 to

The interest rate on bank loans is 12%, American Express is 9.9%. The interest rate on visas is 19% and MasterCard has an interest rate of 13.9%. As you can see here is an advantage to pay the letter of interest. The smaller the bank balance of the loan, which can easily be paid first. We will pay the bank loan, and then deal with credit cards.

Say your minimum payment on each card are as follows:
• Minimum of American Express – $ 71.00
• the minimum amount by MasterCard – $ 290.00
• The minimum amount for Visa – $ 285.00
• Bank loan – $ 91.36

If you had to pay only the minimum amount for each credit card, but twice the minimum bank lending, the bank loan will be repaid in two months. After payment is complete, add the amount you pay the payment to the Visa account. The advantage would be the return of the card that costs you more. It will save a huge amount of money that would normally have gone to pay credit card interest high.

If you had to pay the minimum payment on the American Express and MasterCard, but twice the minimum payment on your visa, you could save more than half the interest they have paid for this card.

• Bank loan – double the minimum payment – $ 182.72
• American Express payment – $ 71.00
• MasterCard – payment of $ 290.00
• Visa – Payment $ 285.00

In two periods (two months), bank loans are now paid. Next step: Take $ 182.72 you paid the bank loan and add to the Visa payment, $ 182.72 + $ 285.00 = $ 467.72.

In twelve months, which is $ 300.00 for visas upon payment of $ 467.72 applies. Then, $ 2626.00 for the American Express and MasterCard to $ 16,520.00. In this scenario, the visa will be paid in 13 months. $ 467.72 for the Visa, Visa to pay, leaving you with a few dollars to put 160.00 American Express. Then $ 160.00 + $ 71.00 = $ 231.00 to pay American Express in month 13. There was still $ 2016.38 American Express, and $ 15,940.00 was still on the MasterCard.

• Bank loan – paid in full
• Visa – $ 0.00 – paid in full.
• MasterCard – $ 290.00
• American Express – $ 71.00 + $ 285.00 + $ 182.00 = $ 538.00

In four months, not just 400.00 dollars, due to American Express and $ 15,070.00, due to MasterCard. In the next payment, to pay American Express $ 400.00, 138.00 and the aggregate balance of MasterCard. After the two credit cards are paid in full, the hammer on the MasterCard account with all amounts of two credit cards, the $ 285.00 + $ 71.00 and $ 290.00 was paid the original map usually MasterCard. It will be a total of $ 646.00. assuming you will not use the $ 182.00 that is used to repay the loan the World Bank.

It took two years, two months (26 months) to pay for this type of MasterCard.

Another way of handling the credit rating report, ensure that the balance that must be done on a monthly basis is less than 35% to 38% of the total line of credit account. So in this scenario, if we were to transfer one third of the total balance owed on the Visa MasterCard card, $ 5,260.00, $ 3,500.00, and American Express, the balances of three credit cards now:
• Visa – $ 5260.00
• MasterCard – $ 7,180.00
• American Express – $ 5516.00

The credit report score will increase due to lower amounts owed on credit cards. If there were no credit cards are used to disperse the total balance due is even better. Now that balances have declined each of your credit card payment using the calendar above to get your debt under control. Once the debt is paid, strict adherence to not use credit cards will be your new goal in life, and wealth creation.

In my next article I will give some incentive to create a home business, with further techniques to create wealth.

Merrick Merrick Kenneth Global Industries
I’ve been in internet marketing since 2003. EBay started, but then my wife’s extended build your own website and affiliates and joint ventures online. I understand the concept of wealth creation, and by creating multiple streams of income, I am able to get control of my debt and slowly eliminated. I’d like to share my knowledge and experiences with others so they too can live the American dream … to live free of debt to take control!