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John Commuta
John Commuta is another financial advisor by his
self title. Transforming Debt into Wealth, How to turn your debt's into
wealth, and also known as the Personal Debt Elimination Program.
His system claims to destroy debt. Here is the
thing. I happen to know a thing or two about debt. Not that I have a
whole lot of it but I do own my house and make payments every month. I
have a couple cars and a business to run as well with plenty of its own
bills to pay every month.
Any time you have a revolving line of credit,
obviously the worst thing you can do is to make the minimum monthly
payment. I think we are all pretty well aware of that. This is I
believe the whole idea behind John Commuta's system. At least that is
my opinion of the program. Usually you are doing nothing more than
paying the interest on the loan every month. A lot of times the minimum
does not even cover the interest because it can multiply and compound
over time.
John Commuta teaches that if you have a $50.00
minimum payment every month and you pay $100.00 per month toward the
balance you could pay off the note off 50% faster. Really? Well not
exactly 50% faster but that is the general idea.
Nothing wrong with this philosophy, I always try
to pay more than the minimum on all my monthly revolving bills. I guess
I just thought that was common knowledge.
The problem for most people is being on such a
tight budget that even the minimum payment is a stretch to cover. One
thing in case you didn't know this from ever doing it is that as you
pay more than the minimum payment every month say on you car payment,
not only does the principle balance begin to go down but every month
your payment does too. This could allow you to continue to pay more
every month or begin to pay more on some other loan payment you may
have.
There you go. No charge for that information. Over
all I think there is some good reading material offered by John Commuta
and his Personal Debt Elimination Program, however a lot of the course
is or at least should be common Sense. The hardest part to eliminating
debt is to just start doing it if only little by little every month.
I am biased when it comes to this next
program so I always tell people to make their own choices but I
have found it so here it is and month after month
it is making me really good money on the Internet. Click Here to take a look.
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