These have not been easy times to find returns for most American families. Wages have been stagnant, housing values have plummeted leaving many mortgage-holders underwater, savings account interest rates are practically nonexistent, and the stock market seems to dip and rally with every news cycle.
So if you can’t get a big raise, secure a double-digit rate of return on a CD or figure out the next big stock move, how can you find returns?
The answer might be as simple as making a few simple changes in how you manage your debt.
Here’s a financial reality you can count on. You’re going to be paying interest to lenders (probably at a rate you don’t like) on your mortgage, credit cards, car loans and student debt for as long as you owe on them. The longer you take to get out of debt, the more you’ll end up paying.
And if you happen to miss a payment or get behind, you’ll probably pay even more in the form of late fees and damage to your credit, which can cause you to pay even more on future loans.
By strategically paying down and eliminating debt, you’ll know exactly when you will be debt free and how much you could save in interest along the way.
AutoPayPlus is a debt management service. We can help you figure out exactly how much and how often to pay on your loans to eliminate them by the date you choose. Lenders don’t like leaving money on the table, so they don’t always make it easy to pay ahead on principal. But we know how to get it done and we’ll work with all your lenders to make sure your extra payments are working for you.
Use our free online loan savings calculator to see exactly how much you can save with a simple biweekly or other custom payment plan. Or give us a call and we’ll figure it out for you and then set everything up with your lenders. With APP, you can track all your loans and bills on our convenient online portal. And if your circumstances change, and you want to go back to your original repayment schedule, we’ll take care of that too.
How would having zero debt change your financial picture? What could you do with all the money you’re currently paying on debt? How much could you be saving toward retirement or other goals? How much better would you feel day to day? It is possible — you set the date, we’ll make the plan. No more late fees, no missed payments and no more having to figure it all out yourself.
So circle that Debt Freedom Date on your calendar and start planning for the big celebration — debt free.