How To Pay Off Your Mortgage in 5-8 Years – A Review of Financial 101

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…

…and 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…

PROS

Financial 101 helps people manage their money with their own coach and a structured program…

…and 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…

CONS

…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…

Conclusion

…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…

…and we get no financial benefit if you do decide to take Financial 101 courses…

…this is an unbiased 3rd party review…

… CLICK HERE to get your free assessment and check out Financial 101 for yourself!

What do you think?  Leave your review of Financial 101 in the comments below!

P.S.

I love blogging and helping others find financial freedom!

…is there something that you are passionate about, and that you could teach others?

…I suggest you consider blogging…

CLICK HERE, enter your e-mail, and watch the free video to learn more!

Lessons I Learned From Money

If you focus on results, you will never change. If you focus on change, you will get results. ~Jack Dixon

Here are some lessons that I’ve learned on my journey to financial freedom…

 

  1. You must save even if you have debt.

    Are you in debt?

    Are you telling yourself that you would save, as soon as you pay off your debt?

    I used to think that way, and it just kept me in perpetual debt. You see, after a while I realized that I seemed to always be in debt. I would pay it off and then get new debt.

    OR I would get close to paying it off and then restructure the debt for a lower payment and a longer term.

    In anycase, the day that I realized that I MUST SAVE WHILE IN DEBT, NO MATTER WHAT, was the day that I began my journey towards financial freedom.

    When I started saving AND paying debt at the same time, my Net Worth started to increase and I finally started having more income…because I was investing my saved money and making dividends.

    I still have debt today, however, I have a lot more money now than I did before I started saving in 2010…

  2. Wait at least 24 hours before making a major purchase.

    Did you really need that business opportunity, or that large screen TV, or that awesome new pool table?

    Most of our spending is a result of impulse spending, created by advertising and sales tactics.

    I am also a sales person, so I know how these techniques work and I also use them myself.

    The key to keeping more money and only spending on quality purchases is to be aware and to curb the impulse spending (this is A LOT harder for most people than they think)

    A good rule of thumb is to wait 24 hours before making a major purchase.

  3. If you lend money, ALWAYS GET COLLATERAL AND PULL CREDIT.

    Can I borrow money for…?

    If you haven’t heard this question yet, you will once you start saving money…your friends and family are going to want a piece of it…and they are probably NOT going to pay you back…

    …I’ve been burned, my husband’s been burned…all by friends who want to borrow money and then they didn’t pay it back…

    …the lesson, no matter who it is, always check credit and always get collateral.

    What is collateral?

    Collateral is anything that is as valuable as the money you are lending out, and that you can keep if they don’t pay you back…

    …as for credit, just have them pull their free credit report from http://www.FreeAnnualCreditReport.com

    If your friends don’t want to do this, then they are basically asking you to give them money…

    …and it’s up to you if you want to give your hard earned money away…

I blog about lessons I’ve learned to help educate others towards financial freedom. I also make money doing it. I invite you to learn about how I can my my blog my business.