Yes here is one of the best tips I can give you on the best way to Grow your Wealth.
Here are some of my favourite tips on how to grow your wealth:
- They paid off my loan? Um, no they didn’t they simply took your old loan and added it to this new loan.
- Make more by reducing debt, is simple. You aren’t paying off debt, so you now have choices of where to spend your money. The choice is not, “which bill to pay”.
- Never was so much owed by so many. Still true today, we owe our freedom to a few, but we owe money to a lot more.
- Straight Talk About Your Money is a great read. It shows that many times folks end up in a bad way and it is not their fault. If they didn’t have a large debt load, that might have helped.
Simple, isn’t it?
Almost always good advice, because people have way to much debt and you’re never really free until it’s gone.
Also, interesting because this week I have a bit of cash and two considerations – pay down a bit of debt with it, or drop it into a mostly passive income venture. Not quite ‘pay down debt vs. invest’, but still a struggle. I’m probably spending way too much time looking at spreadsheets trying to determine different scenarios.
I *knew* I was wealthy. I hope I am healthy. My *wise* part needs work….
Congrats Jane! When you can see the light growing at the end of the tunnel you can imagine just how blindingly wonderful it will feel to walk out into the sunshine in just a few short months!
$15,493 on the HELOC but headed in the downward direction for all of 2013. 15 more months (32 more pay cheques) and it will all be gone.
THAT is building wealth.
Well done Jane!
I need to kill my mortgage. I hate that friggin’ thing….