Acclerated Debt Payment

Saving money from our family budget and investing is one way of accumulating money. Another strategy is to reduce the amount of interest you will be paying on credit cards, first and second mortgages, other installment credit accounts, and car loans.

As part of a financial plan, consider taking a thirty year mortgage on which you will have a total interest amount larger that the origianl loan and pay additional princple. You have already agreed to the terms of this mortgage and by adding $100.00a month to a $160,000 loan it will reduce the length of the loan around five years.

The best appoach is to review the interest rate charged on all your revolving credit accounts and pay of the one with the highest interest rate or smallest balance. When an account is paid off add that amount to another account's payment make the balance reduce faster. Continue this proceedure until you are debt free. The amount that was being paid to the last debt should now be put into an investment, 50% for future spending and 50% for retirement spending.

The time value of money is a big help in accomplishing your financial goals. Start young, make a good income, and use a lot of financial discipline.

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Energy Cost -Part II

One of the arguments is that fossil fuel pollutes the environment and that we need to use some other form of energy. Electricity runs from 6.5 cent to 12 cents a kilowatt. Solar power runs between 34 cents to 42 cents. Wind is between 3 to 5 cents when the wind is blowing.

The market place says that oil is the most cost effective source of fuel for mobile vehicle energy consumption. So government says we will add a tax to pay for roads. The tax keeps going up but the taxpayer do not have accountability. Is the money going to roads, or maybe to partially fund a mass transit system?

Atomic and coal fire electric power plants provide the most cost effective electricity. Oil is the most cost effective fuel for cars, trucks, airplanes, trains, etc.

There is no scientific proof that the environment is harmed by carbon dioxide omissions into the atmosphere. In science there is not consensus, only absolute conclusion. Global warming is a scientific consensus based on computer models.

In 2006, the west coast forest fires produced one-third of all the pollution in the United States. I have not heard any outrage from the environmentalists, laws being passed to make forest fires illegal, or a tax on smoke.

Animals exhale carbon dioxide. What is next, a tax to breath?

Let the market place work. Drill for the oil. Work on alternatives. The solution will be found when the price is right without governmental interference. Nature is to complicated to think that humans can control the atmosphere.

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Frame Of Mind

Making money work hard sounds easy until you get into the process
of structuring a program to accomplish increased accumulation and
savings.

Your talents and interests may not involve planning how to spend your
money but it is very important to learn how to manage your money properly.
There is only one person who cares how well you do, and has the motivation to be successful.

An important concept is what frame of mind you’re in and how you
visualize the whole financial planning process.

Think of being at the entrance to a tunnel, looking into the dark and asking
yourself what do I see. Visually you see black darkness but mentally you
can envision what ever you want to. Accumulating excess money is the
catalyst to make the vision you saw in the tunnel happen.

For more information go to makemoneywork.info.

Energy Cost Part I

One of the greatest thing about our market driven economy is the ability to solve problems. If there is a demand for a good or service, the market place will provide what is needed if a profit can be made in the process. Another type of economy is when the government decides by legislation to change the market place.

In the case of gasoline the oil company makes 8 cent, the gas station makes 8 cents, and the government makes 32 to 48 cents a gallon. The ability to refine crude oil has been restricted for environmental reasons, and drilling for news sources in continental U.S. has been restricted for environmental reasons.

To supplement the need for fuel, the government has decided to subsidizes a more expensive alternative. Since ethanol is made from corn the price of commodities have forced the cost of meat, milk, cereal, eggs and other groceries to new highs. The fuel cost has increased the price of all item hauled by truck. The price of natural gas has increased because it is used to refine ethanol, and fire power plants to conform to environmental restrictions.

What price must be reached before we get back to a market economy?

For more information go to makemoneywork.info.