Welcome to San Francisco public domains. We're hear to help you conquer the world of financial debt. Did you realize most of the world's population is in one or another form of debt? And did you also know that living financially free from debt can be obtain by anyone that chooses to do so. When you search for the term how to get out of financial debt, there are thousands of opinions and publications that tries to sell you something that we'll be giving away here for free. Yes, that's correct, we will not ask you for money in any way or form. There may be some advertisements on our website but that's mainly to help pay for server space. We do not look to profit from this, our goal is to spread the news on how to get you and your family financial freedom. But be forewarned, there are a lot of naysayer that will tell you otherwise. We only ask you to open your mind and see the truth.
Buy a house to get a tax write-off
One of the biggest myth in the financial world. I'm sure you've heard of this many times from your parents or friends. "You need to buy a house so you can have a big tax write-off!" Wow that's amazing how many people fall for this line. Let me give you a scenario in regards to this and tell me if it makes any sense to you.
"Harry goes to Bob and hands Bob $1,000. Here Bob take my $1,000 and give me a tax write-off of $300 back."
I know you'd never think that you would be Harry but if you are a home owner, that's exactly who you are! You're giving the government 100% of your money in the form of interest to get a tax refund of 30% back. That's not a good financial deal anyway you look at it.
Just Charge it Baby
Okay, you want to know what's worst than paying interest for mortgages? Well in our books it's charging items you can't afford to your credit card and only paying the minimum each month. Currently most credit cards have an interest rate of about 20% depending on where you get your card from and how credit worthy you are. Looking at the American dream, it looks like the way to buy anything nowadays is to charge it and pay it back on a monthly basis. Here's a little story for you to consider.
Bob and Betty was looking to buy a replacement TV for their home because they were bored with their existing TV. Bob says to Betty, "let's buy a used TV, I have $200." Betty exclaimed," USED?? are you crazy? We can buy a new one and only pay $20 a month! That's so little." Well Bob and Betty bought their new TV and they were right, it was only $20 a month. The TV was $1000 and they were able to get it for just $20 a month on 20% interest. Well 5 years later after paying $20 a month Bob and Betty's TV broke. Now after the 5 years, their total debt on their credit card is still 1,000! That's after paying a total of $1,200 in payments. NOT smart!
Stories to come
Stay tuned as we come up with more scenarios to help you understand the importance of getting you and your family to a state of financial freedom. Paying debt or being in debt is the worst thing you can put your family through. Be prepared and get yourself out of financial debt!