How $2K Becomes Fatal

I've seen so many internet marketers (business as usual!) boast of making a million dollars in sales of something hot and "hypie", while spending merely thousands in the launch process. And that is what is usually dubbed as $1000 becomes $1m etc. to attract the netizens! However, our issue too has its own 1k to 1m process.

It was about 1.15 p.m when this thought came about. I was having this calculator in one hand, doing some basic calculations of accounts, when all of a sudden, I wondered how it would turn out, if a $2k debt is left to the dogs - the interest!

Humor sometimes turns out tragic.

This one's fatal. Supposing you are merely thinking about clearing the debt, while actually what you are doing is nothing... which means, the debt keeps increasing something like exponentially, because the rates are compounded. Remember, this is not simple interest! Anyway, what happens is this...

Typical EAR (not APR) for credit cards in the USA is about 17-18 %. For our sake, let us take the maximum - 18%. Now, if there's about 2000 bucks negative in the balance sheet, you are supposed to either pay up that debt, or... "meet the consequences" ;-)

So, in around 5 years, with an 18% EAR, your balance will stand at about $4,575 with a change of 52 cents that goes for chocolates! Anyway, if you thought $2k was frightening, I will give you some words to describe $4.5K! Fatal? Destructive? Terrorizing?

Welcome to the world of dreamy debtors!

The fact is this: If you begin now, you might have a chance to come out of the debt and the mental rut. If you don't begin now, then all I need to say is $4.5k! In ten years, that's gonna become $10,467 with another 67 cent change that could buy you a cigarette or two!

So what do you say? Dreamy yet or ready to begin? One site that has consistently proved to be a real winner for people who have been deep in debt is this one. This is not exactly my favourite, but it has been here since the golden days of internet itself, and has had several rave reviews. I am not here to give rave reviews, of course, but this thing can get you started today so that $4.5k or $10.467k can be avoided. (Yes, the changes also)

Get the ebook here.

So until next post...