Home Mortgages

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 176-June 25 “The old woman triumphantly announced that she had borrowed enough money to pay all her debts.”—P.L. Lord Anyone who has ever bought a home has been dismayed to find out how interest is amortized over the life of the conventional thirty-year mortgage. During the first fifteen years of the loan, the majority of the loan payment is interest. In fact, for the first five years, it’s almost all interest. It’s not until the twentieth year of the mortgage that the monthly payment is even half interest and half principle. Not to mention the fact that after paying for thirty years, depending on the … [Read more...]

Shopping for Love

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 20 – January 20 “An object in possession seldom retains the same charm that it had in pursuit.”—Pliny the Younger “Can’t buy me love,” sang The Beatles. But we can buy its cousin: Praise, which we use as a poor substitute for love. People crave love and acknowledgment beyond all other things. In a survey conducted by Ken Blanchard, author of The One Minute Manager, employees ranked “Feeling ‘in’ on things” and “Appreciation of work” as the number one and number two benefits they wanted most from their jobs. Higher wages ranked a distant fifth. We want to feel included, we want to be special, we want … [Read more...]

Major Money Malady—Buying on Time

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 261-September 18 “The quickest way to double your money is to fold it in half and put it back in your pocket.”—Unknown We don’t pay for anything up front any more. When we want something, we get it. If we don’t have the money, we charge it. We buy everything on time. The longer the time, the more money we pay for the item. But the payments are so small, we forget. Rennie Gabriel, in his book Wealth on Any Income, gives an illuminating example of the total amount we end up paying for products purchased on credit. He states that a dining set on sale at a department store for $648 (including tax) costs … [Read more...]

Appreciating vs. Depreciating Assets

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 259-September 16 “Debt is a trap which a man sets and baits himself, and then deliberately gets into.”—Josh Billings This is the story of the new car I didn’t buy. At least, not right away…. I had weathered many financial storms, but the sun was shining now. My new business was booming. I was earning good money, saving regularly, and was on the road to becoming debt-free for the first time in my life. I did my positive affirmations daily and my “High Budget” was becoming a reality. Then I happened across a brand-new Lexus GS 300. A brilliant, sparkling, gold, sporty model, I could picture my cute … [Read more...]