Money Merger Account – Using the banks own math against them to wipe out your debt
One of the pogne reasons most people stay in debt and pay off credit cards or mortgage payments for 30 to 40 years is the ugly, but beneficial effect of compounding interest on the loan bascule. It is these balances on which banks calculate interest and acquitté tâches every day that keep you away from debt saillie and financial freedom. This compounding interest keeps banks and lenders out of débit, but the good magazine is that you can use the same math that banks use to make a bénéfice and help you switch the cards in your favor for a mortgage or loan faster. This process can be achieved by setting up what is known as a money merge account.
What is a money merge account?
A money merge account is a system that can be used to reduce the daily bascule of any loan that will have the effect of reducing the interest on the loan, resulting in less interest owed and faster repayment due to more money. Applying to the Sérieux. These accounts are usually setup using a HELOC or Habitation Equity Line of Credit which is basically a line of credit in bonasse terms like a credit card secured against your appartement equity.
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 will then transfer it to the merged account and tell how much has been deposited. You’ll then adjust how much serviteur you need to apply to your mortgage or loan bascule each month, depending on your moment, and pay your bills as simple. The effect of using this system will be to reduce the interest loupé on a daily basis.
This system can be implemented using math and paper but if you are not really good at math and keep perfect records, then you are better off using a soft to calculate complex algorithms and keep records of your income and expenses.
But I heard that it was a scam…
Unfortunately the money merge account system has gotten some bad press from people who don’t understand how it works or are just trying to protect their own financial interests.
The actual notion of the system has been around for a grandiose time and originated in Australia. It has been used by thousands of people around the world for mortgage acceleration and early repayment of loans.
One of the reasons it gets a bad rep is that one of the pogne 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.
United First Financial is not the only company to provide the soft needed to do the calculations. They commission $3500 for it, but it can be bought for thousands of dollars less from smaller competitors with similar systems.
There are some advantages and disadvantages to using a money merge account. Using only bonasse math proves the system works on paper with its ability to reduce interest, but for some people this may not be an favoritisme if they are unable to maintain tight control over the money, especially if it is available to spend freely. For those interested in paying off their mortgage or debt as quickly as assimilable and disciplined enough to manage their monthly gain and cash flow, a money merge account should be an favoritisme on the échelle if you’re interested. Mortgage Acceleration or Debt Elimination Schemes..
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