Transforming Debt into Wealth.....John Cummuda

[ARCHIVED THREAD] - Transforming Debt into Wealth.....John Cummuda

Posted: 1/24/2006 2:31:52 PM EDT

My brother just sent me this package and I'm finding it very interesting.

Has anyone else studied this system? Have you put it into practice and had sucess?

Posted: 2/2/2006 8:30:52 PM EDT

[#1]

Need more details.

Posted: 2/3/2006 10:34:39 AM EDT

[#2]

The system explains how you can take all your debt and pay them down even your mortgage in 5-7 years and be debt free and live on cash. Then all the monies you were spending on paying the debt can be funnled into investments that over a period of 10 - 20 years will make you a millionaire. All this is done using your current income.

Posted: 2/3/2006 11:13:20 AM EDT

[#3]

It's a great package for people with good income but aren't using it correctly. There are enough good thoughts in there to at least give it a listen once. I don't know if it's worth buying though.

Posted: 2/3/2006 6:02:24 PM EDT

[#4]

Quoted:
...take all your debt and pay them down even your mortgage in 5-7 years ....

With what money?

You don't need to do any math to see that is impossible without new income or debt.

Posted: 2/13/2006 9:20:22 PM EDT

[#5]

Quoted:
The system explains how you can take all your debt and pay them down even your mortgage in 5-7 years and be debt free and live on cash. Then all the monies you were spending on paying the debt can be funnled into investments that over a period of 10 - 20 years will make you a millionaire. All this is done using your current income.

Well, how do you do it?

Posted: 2/14/2006 6:09:05 AM EDT

[#6]

It's certainly possible but not quite as easy as the author makes it out to be.

If you look at how you spend money, you will probably find that you really waste a lot. Most of us do.

I have not read the book. The big secret is to not live above your means. A lot of people do and that's why they are in a financial bind and won't be able to use too many miracle debt reduction strategies. You have to reduce your standard of living.

[ARCHIVED THREAD] - Transforming Debt into Wealth.....John Cummuda

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