Want to learn how to pay off your mortgage in 5 to 8 years?
Read this review of Financial 101.
So my husband says an administrator of one of the facilities he visits invited him to attend a financial seminar at someone’s house.
Bells are going off in my head!
Why would anyone do a financial presentation at their house?
I asked him “Is this an MLM?”
My husband Jomel says “it’s a class on money and investing and it was an hour long”.
So we all just went, and I literally just got back to write this blog about it.
It was a company called Financial 101.
Similar to Sweep Strategies, they help you learn to budget money, save, and restructure debt so that you can pay off your mortgage faster.
Then they help you invest in other properties for rental income.
Here is my honest review of Financial 101
REVIEW OF FINANCIAL 101
So, the presentation is very informative for most people who do not understand interest rates, debt and money management.
It discusses the advantages of paying off high interest debts as quickly as possible, to save lots of money in interest.
It also shows people how to tap into the equity of their home to pay down the principal of their mortgages faster.
Instead of putting their money in a checking account, they put it in a line of credit and pay all of their bills from that instead.
This saves money on interest that they would have had to pay towards their mortgage.
They also teach how to responsibly use credit credit cards to earn points and other benefits…and also save even more interest on their mortgages.
Financial 101 helps people manage their money with their own coach and a structured program.
There are plenty of real life stories of people who took the course and it changed their lives.
The story that I saw was from a couple that went from a $5,000/mo mortgage to now having no mortgage.
Not sure of the time frame or how much they owe on their line of credit, however, looks like they are doing better financially because the husband can build custom cars for a living instead of working a job.
The lady who did the presentation was named Shantell, and she also had a great story of how her family went from being very poor to now traveling the world and owning her own home and car with no debt, and now owning investment properties and qualifying for Private banking.
They have a beginner course which costs $199 which helps people get control of their spending and their cashflow, especially if they have negative cashflow (spending more than they are making).
Then if they want to go to the next level, which is Financial 100, the $199 goes towards the cost of the 2nd course which is $1,499.
Financial 100 teaches how to do automatic savings, and have a savings buffer.
How to budget for future savings goals, and to be able to look at finances 3 months ahead.
If you graduate within one year of Financial 100, they let you use the tuition to pay for Financial 101, which costs over $3,000.
In Financial 101 you apply for the line of credit that you use as your checking account to deposit your paychecks and pay your bills.
The advantage of using a line of credit as your checking account is that the same line of credit is used to pay down the principal of your mortgage…
…which saves money in mortgage interest.
As the line of credit is paid down, there’s room to invest in investment properties.
For people in Hawaii who tend to have high mortgages, and also credit card debt, this program can be very helpful in not only paying off debt, but also creating real financial wealth.
In addition, they help people pay their tuition with the savings that they make from the saved mortgage interest.
There aren’t that many cons that I can see with the program.
The first that I noticed was that they talk about an emergency fund, and I think it’s wiser to save for different reasons, click here to learn more about why I would never have an emergency fund and better ways to strategically save your money.
The second is that if you already know what they are teaching, you don’t really need to take a course.
I’m not sure if it would be cost effective if you had no mortgage or no debt and are already saving a lot of money, and already have investments making you passive income.
I think for most people Financial 101 would be that financial education that we all needed to learn in school, and yet no one taught us.
My husband and I are going to do the free assessment.
We get no financial benefit if you do decide to take Financial 101 courses.
This is an unbiased 3rd party review.
What do you think? Leave your review of Financial 101 in the comments below!
I was over $35,000 in debt in 2011, and it wasn’t a mortgage, it was credit cards and personal loans and lines of credit.
In 2016, I paid off all of my debt, was making about $500/mo in passive income and quit my job in December of that year.
I started 3 BETA Finance Freedom Masterminds in late 2016 and 2017 and helped members create monthly passive income streams.
We’ve honed in on the most effective methods to create real wealth for regular working parents!
…CLICK HERE, enter your e-mail, and watch the free video to learn more!