The Feds can tax your interest earnings, but they CAN’T tax interest savings.
When your money earns interest on the Asset side of the ledger, the Feds consider that income and then tax you accordingly.
When your money saves you interest on the Debt side of the ledger, the Feds don’t even know it’s happening and even if they did, they CANNOT tax your interest savings.
So, the question is, how do you save interest with your money? Put your paycheck to work! Get your money, your paycheck, applied towards outstanding revolving debt.
As soon as your income hits the debt, you begin to save interest, immediately. Your paycheck acts like a big payment, reducing the balance and negating interest. Look at it this way, if you have $5000 in revolving debt, and you earn $5000 a month you could eliminate all or most of the monthly interest charges. And, your savings rate is exactly the same is the interest rate on the debt. 5% interest rate on debt = 5% savings rate. 10% = 10% savings, 20% = 20% savings. If you’re not paying interest, then you are saving interest!
Putting your actual paycheck to work is guaranteed to save you interest and accelerate repayment. Guaranteed to work every time, 100% of the time.
What I just described is called Credit Line Banking. This is not rooted in opinion or speculation. We’ve been developing and testing Credit Line Banking in the US economy for 16 years. It can and has been proven with the math from real data. We’ve been tracking the results!
If you’re questioning these claims, or don’t know how it works, or you think you can disprove actual results, please schedule some time with us (My Calendar below), so we can show you what we know. You will leave the call a little smarter about money than when you arrived. And knowing more about money and getting more out of your paycheck can never be a bad thing. Talk to you soon.