Learning the Basics of “Paper” You Owe Can Really Change Your Financial Life

Posted on November 9, 2015 by

Over the past two months I have written about using “Paper” assets as income for your financial future. But did you know you are already using “Paper” for debts you personally owe. I am sure most of you have some type of consumer debt you pay every month. Every one of those individual consumer debts is also a form of “Paper” owed someone else. Your creditor’s hold a form of “paper” you signed and agreed to pay. Consumer debts are a drain on your monthly cash-flow and the sooner you get those debts paid off the sooner you will be able to use the money you no longer have to pay out every month for a better lifestyle or to invest and grow your financial future.

If you have never thought about your consumer debts as another form of “Paper” but as paper you owe I believe it’s time. I’ve decided to give you a very important lesson how you can use the “paper” or debt you owe for your own personal debts that are working negatively for you and show you a simple strategy that can help you become free of those high interest debts you owe in the shortest possible period of time. If you understand this simple strategy, it will make a huge difference in the quality of life you are seeking once you become debt free from the debts you personally owe. I believe this is a good place to really learn how “paper” works sitting at your own kitchen table so you better understand how to quickly eliminate the debts you owe.

You Need to Start Educating Yourself About Paper You Owe Where It Affects You the Most. If You Understand How Paper Works and How Paper Can Help Put You On the Fast Track to Financial Freedom Without Having to Earn One Extra Cent Every Month Can Truly Change Your Life.

Let’s start slowly by talking about “paper”, or “NOTES” you owe by saying that every time you have ever bought anything on credit with monthly installment payments you signed a form called a “Promissory Note” which clearly states that by signing the promissory note you then owe a debt and promise to pay for that debt every month until that debt has been completely paid in full. Most of those credit transactions you made, if not all have a monthly payment that contains “interest” at a specific rate. That interest is calculated every month and is a huge part of your monthly payment. These promises to pay (Notes) are also a form of “Paper”, just paper you owe instead of paper you receive payments from others as an income stream.

When most people agree to pay too many “promises to pay” (notes) (debts) many times they find themselves struggling to pay for all of those debts every month and make only the minimum payment each month. Let me show you a good way to eliminate those debts much faster than if you were to pay only the minimum payment you are required to pay each month without stretching you financially.

What if you were to skip eating dinner out with your family just once every month. Instead of paying for that one extra dinner each month what if you apply the money you saved to the required minimum payment of the debt you have with the highest interest rate. In most cases this will be one of your credit cards with an interest rate of 16% to 30%. If you will add the money you saved by not dining out once each month to the minimum payment you are required to pay each month for that credit card with the highest interest rate can make a tremendous difference in the number of months it will take to completely pay off that card. Here is why, the extra money you pay every month above the minimum payment required will be deducted from the total balance owed for that card and will never accrue more interest ever again. This will allow you to pay off your high interest rate debts much faster and save you money. This is such a powerful way to become debt free and it doesn’t require you to earn one more dollar every month.

Next month I will go into more detail how this simple strategy can quickly change your financial picture.

Until next month, good luck and happy investing!


Larry HarboltLarry Harbolt is the nation’s leading creative Seller Financing expert as well as a popular national real estate speaker and teacher whose time-tested strategies and nuts and bolts teaching style has helped thousands of aspiring real estate entrepreneurs realize their financial dreams with little or no money and without the need for credit. Larry has been successful creatively buying and selling real estate for over 30 years and has written numerous popular articles and real estate courses.

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