There are some statements that are particularly telling of what I call a “broke mentality” – the thinking of a financially broke individual.

One of those statements is “How much are the payments?”

People who are not broke ask the better question – “How much is the total cost – the purchase price AND the ongoing operating expenses?”

I have observed that people who ask “How much are the payments?” are more likely to:

• Pay a much higher purchase price
• Pay a much higher rate of interest
• Be unaware of the ongoing operating expenses
• Finance their purchase versus pay cash
• Still be paying for their purchase even after that item has been discarded

We are ALL susceptible to falling into the “broke mentality” – Have you ever made decisions this way?  Would you mind sharing your story in the comments?

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We have updated the on-line offers that we have found HERE (http://www.josephsangl.com/2011/07/19/0-percent-balance-transfer-credit-card/).

If you have existing credit card debt that you are paying a ton of interest on, this is a great way to reduce that interest to ZERO!

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1. Greece has a debt problem
2. Because Greece is part of the “Euro Zone”, this means that the “Euro Zone” has a problem
3. Because French and German banks are heavily vested in Greek banks and debt, they stand to lose the most if Greece defaults
4. In order for the “Euro Zone” countries to “bail out” Greece, the government and citizens of Greece must accept restrictions and cuts – so-called “austerity measures”
5. The Greek government and citizens don’t want these cuts and restrictions

My response (out loud many times) has been, “OF COURSE, you don’t want cuts and restrictions – NO ONE does!  BUT your economy is BROKE and everything has been financed and leveraged to oblivion – with OTHER PEOPLES MONEY!”  Based upon recent data I have seen, nearly 95-percent of Greek debt is owned by foreign entities.”

Let’s explore this in terms that we can all understand better.  Suppose you let your neighbor borrow $10,000.  Then your neighbor spent all of the money with no real plan for repayment, and when you approached them for repayment, they said, “But if I pay you back all of the money I borrowed from you, I will have to reduce or cut out some of my lifestyle.  I’m not willing to do that.”

How would that work for you?

I have said it 10,000 times if I have said it once. The day I stopped whining and complaining and started taking the tough and difficult actions necessary to get my financial house in order is THE DAY that I started winning with money!

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They have used a tool like our Debt Freedom Date Calculator to calculate their Debt Freedom Date, and they have realized just how much of their money is going to a bank or lender.  For the average family with non-house debt, somewhere between $500 and $1,250 per month is being paid in monthly payments.  If you include the house payment, that average amount is between $1,250 and $2,000 or more per month.

For those who remain focused and diligent, debt freedom is achieved, and it is incredible!

Then the inevitable question shows up – “What’s next?”

If you are one of those who is asking this question, here are a few things to consider using the newly-released money for:

• Pursue a dream
• Give more away to causes you really believe in
• Build a larger emergency fund
• Invest money into a dream
• Invest money into someone else’s dream
• Reward yourself with a purchase of something you’ve always wanted

What other things would you recommend using this money for?

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• Worthwhile
• Margin
• Motivating
• Freedom
• Intense focus
• Self-Control
• Disciplined
• Dreams
• Abnormal
• Effort
• NO!
• WAIT!
• LATER!
• Tiring
• Exciting
• Possible

Those are the words that I thought of.  What are some that you would add?

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Here is an example of savings that can be achieved.

Balance: $7,000 Interest: 21.99% Monthly Payment: $140

If this balance were transferred to a 0-percent balance transfer credit card with a 3-percent transfer fee, the calculations would look like the following.

This ONE MOVE could save $1,314.22 in ONE YEAR! If the balance would not have been transferred using a 0-percent balance transfer credit card, the actual balance owed would have dropped by a mere $141.47. By choosing to take just 15 minutes to fill out an on-line balance transfer application, a total principal reduction of $1,330 could be realized.

$1,314.22 saved for 15 minutes work. That’s like making $5,256.88 an hour!

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• Apple (AAPL)
• Fastenal (FAST)
• Panera Bread Corp (PNRA)
• Texas Instruments (TXN)
• Bed Bath & Beyond (BBBY)

Besides being TOTALLY UNRELATED organizations, they are all 100-percent DEBT-FREE!  Google was 100-percent debt-free until 2010 and Microsoft was 100-percent debt-free until 2009.  Each company possesses more than enough cash to eliminate the debt without any financial margin issues.

Take a good look around at America’s businesses – they are almost ALL carrying some debt.

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Credit card lenders have begun really offering better terms recently as they have extended the 0-percent terms and lowered transfer fees.   The best offer(s) I’ve currently located are listed below.

0% Interest and ZERO TRANSFER FEE for 12 months!

Discover® More Card – $0 Balance Transfer Fee!

=============================================

0% Interest For 18 MONTHS (Small Transfer Fee)!

Discover® More Card – 18 Month Promotional Balance Transfer

Updated: 1/11/2012

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Information provided via FlexOffers.com and is deemed correct when posted.   IWBNIN does not collect private information nor does it share information.   Disclosure.

“2 credit cards cut up and outta here! One with zero balance! One more to go and I’m done with these things @joesangl”

Listen – if you plan your spending and pay your cards off every month, get all the points you want.   But I had to chop mine up.   Apparently, this was the right decision for Desiree Dare too!

Can I ask you to do ONE THING?

1. Go to Desiree’s Twitter page and leave her an encouraging note (HERE)

It is our team’s goal to help EVERYONE take their next steps toward their financial goals – and to accomplish far more than they ever thought possible with their money!

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Ever spent money and felt like you might as well be flushing it down the toilet?

I’ve had those experiences.   We all have.

Situations like the following come to mind:

• Moneypit House Repairs
• Fixing a boat
• Health club membership and haven’t been to health club in years
• Giving money to a friend/family member who refuses to change their poor financial behaviors

Maybe you are doing this right now – and you don’t even realize just how big it is costing you!

• Paying interest on your home mortgage – adds up to THOUSANDS per year!
• Paying interest on a credit card balance or furniture purchase – can add up to THOUSANDS per year!
• Purchasing a brand new car/boat/truck/ATV/etc – and HUNDREDS and THOUSANDS of dollars are lost the moment it is taken off the lot!
• Paying for a storage unit for stuff you don’t even use!

These “hidden costs” can add up to a TON of money that can be used in so many more ways than just “flushing it down the toilet”.

What is ONE THING you could do today to make a huge difference tomorrow?

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