Money Minds Incorporated

1.     Eliminate Your Debt: The current system is designed to keep you in “DEBT”.  The banking system makes billions of dollars from our lack of knowledge of their tactics.  When debt becomes an investment, wealth is created.  The banks know exactly what this means.

2.     Good Credit:  Credit Education is one of the most important principles, because this is where we are throwing thousands upon thousands of dollars away everyday.  The “Credit System” has strained and drained the finances of the average citizen.  In the arena of mortgages, The Truth and Lending Disclosure dictates that a $200K home mortgage will cost you approximately $200K+ in interest payments, bringing the cost of your home to $400K+ and we have been brainwashed to believe that this is “NORMAL”.  There is a system to offset those interest payments by more than 50%, with the right knowledge.  Some of you will say that this sounds too good to be true but, this is exactly what your creditors want you to think.  Added note, if you have good credit make sure that you have Identity Theft Protection.

3.     Tax Planning:  It is not necessarily how much you make, but how much you keep.   Having access to tax professionals is a must to building wealth and keeping it.

4.     Cash Flow Analysis; also know commonly as a Budget!

5.     Financial Planning:  A financial plan without action is an illusion.

6.     Professional Legal Advice is a must to protect your assets and to limit your liabilities.

7.     Passive Residual Income:  There are many options here.  You should find a niche or cause that you are passionate about and run with it.  If you need some suggestions, I will be happy to assist you based upon your interests.

Great comments! I agree that we as consumers are partly to blame for these trying economic times. I think financial literacy should be taught in Grammar School, High School, and College. If you are not getting a major in Business, you are not even getting this much needed knowledge even in college. Why I said partly to blame is because those consumers that fell prey to the banking institutions bought on emotion and trusted licensed professionals. Again, I agree that common sense should have kicked in—60K/year doesn’t equal a 350k home, but they were trusting someone that a higher licensing authority said they could trust.

Another problem is you can give people solutions, but they want what they want, not what they need.

Congratulations, Peter G. Peterson Foundation on your efforts to educate younger Americans about the impact of the national deficit.

The Peter G. Peterson Foundation may want to also check out “In Debt We Trust”, a documentary by Danny Schecter.  In Debt We Trust, shows how the mall replaced the factory as America’s dominant economic engine and how big banks and credit card companies buy our Congress and drive us into what a former major economist calls modern serfdom.  Americans and our government owe trillions in consumer debt and the national debt, a large amount of it to big banks and billions to Communist China.

I only hope that the Foundation is also going to focus on consumer debt education as a part of its mission to stamp out this pandemic of financial illiteracy that so easily beset us.  It would appear that we are following the nations lead as consumers and amassing a debt record of our own that we will undoubtedly pass on for generations to come if some intervention isn’t implemented quickly.

IN DEBT WE TRUST is the latest film from Danny Schechter, “The News Dissector,” director of the internationally distributed and award-winning WMD (Weapons of Mass Deception), an expose of the media’s role in the Iraq War. The Emmy-winning former ABC News and CNN producer’s new hard-hitting documentary investigates why so many Americans are being strangled by debt. It is a journalistic confrontation with what former Reagan advisor Kevin Phillips calls “Financialization”–the “powerful emergence of a debt-and-credit industrial complex.”

IN DEBT WE TRUST shows how the mall replaced the factory as America’s dominant economic engine and how big banks and credit card companies buy our Congress and drive us into what a former major bank economist calls modern serfdom. Americans and our government owe trillions in consumer debt and the national debt, a large amount of it to big banks and billions to Communist China.

No Refinancing, No HELOC, No $3500.00 Price Tag. This will make some people angry but you do not have to pay that kind of money and jump through all those hoops to accelerate  your debts.  The banks use compound interest to make them wealthy.  Well, we provide you with the tools to save tens of thousands of dollars in interest payments, so you can stop putting their kids thru college and make you wealthy.

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