The Million Dollar Mercedes

Investing is one of the best paths to a secure financial future.

Before you start, you may want to consider paying off high-interest rate debt (i.e.: credit cards).

One way to do this faster is debt consolidation.

Three reasons to consider credit card debt consolidation:

1. Simplify! Replace many monthly payments with one loan payment.
2. Save. Possibly pay a lower interest rate than you pay now.
3. Score. Improve your credit score as you pay down debts faster and have money to invest and build wealth.

Check this simple math. Many Americans have $10,000 or more of credit card debt. Annual interest cost is $1,800 at a typical 18%* credit card interest rate, compared to $1,000 at 10%** potential rate on a loan for someone with excellent credit – saving $800 to help reduce total debt faster, or build wealth in your investment portfolio.

Read more: ConsumerFinance.gov

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* https://www.businessinsider.com/personal-finance/average-credit-card-interest-rate
**https://www.nerdwallet.com/article/loans/personal-loans/current-debt-consolidation-loan-interest-rates

Investing is one of the best paths to a secure financial future.

 

Before you start, you may want to consider paying off high-interest rate debt (i.e.: credit cards).

 

One way to do this faster is debt consolidation.

 

Three reasons to consider credit card debt consolidation:

1. Simplify! Replace many monthly payments with one loan payment.
2. Save. Possibly pay a lower interest rate than you pay now.
3. Score. Improve your credit score as you pay down debts faster and have money to invest and build wealth.

 

Check this simple math. Many Americans have $10,000 or more of credit card debt. Annual interest cost is $1,800 at a typical 18%* credit card interest rate, compared to $1,000 at 10%** potential rate on a loan for someone with excellent credit – saving $800 to help reduce total debt faster, or build wealth in your investment portfolio.

 

Read more: ConsumerFinance.gov

 

Get the Beanstox App

Subscription is free until the end of the year. Head to the app store to download today.

 

Download on the App StoreGet it on Google Play

 

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