Money Merge Account Budget Dilemma -- Too Much Bookkeeping?
Lin Ennis
September 12, 2008
Charles was actually looking for the MMA fax number so he could pay his $3500 and begin the money-leveraging program I like to call equity cycling. I don´t know how much he read before calling my tollfree number, but he seemed remarkably familiar with my writings on "using the paid for portion of your house to pay off the unpaid for portion."
He said I was the only person outside the organization speaking well of United First Financial´s brain child. Specifically, my articles consistently say, "The Money Merge Account is not a scam." To be fair, he also located articles documenting I wrote a manual on equity cycling long before I ever heard of UFF and the MMA, a manual that sells for only $97, compared to the $3500 of the competitive program.
When I talk to people in this buying dilemma, money is not the only consideration. I ask questions about their goals, their debt, and how they keep their records now. I´m not a financial advisor or counselor, but I have been around a couple of blocks of human nature.
Charles asked specifically about the need to come home from work, sit down at the computer and enter all his daily expenses. Though you may not be able to read the line items in the accompanying picture of a Ufirst Monthly Living Expenses record, I´m sure you can see, at the bottom, lines for two signatures and a date. It is essential to the success of the Money Merge program that you attest in writing that all of the numbers you´ve submitted are correct. If they are not, then of course United First is not responsible for failure of the program to perform as promised. It is also essential to keep your numbers current, though, I´m not sure that requires daily attention.
This is where human nature comes in. Do you balance your check book every month? And all of the credit cards you use? I know many very successful people who find giving that much attention to the smaller details of their financial lives a very low priority, not because they don´t care about their money or its growth, but because they are busy running businesses, raising children and updating their operating systems.
Who has time to do daily record-keeping? If people looking into the Money Merge Account think it´s going to lift responsibilities and effort off their shoulders, they may be mistaken. The need for accuracy and for adjusting fluctuations in income and expenses is critical to the success of that program. That means additional time invested to keep their financial data up-to-date.
It does not seem to be part of human nature to keep financial records down to the penny. I enjoy that myself, but my partner doesn´t, so we have over the last 10 years accumulated thousands of dollars of unaccounted for petty cash—pocket money.
That´s exactly why Let Your Mortgage Make You Rich! takes a more general approach to equity cycling. "Cycle an amount of money roughly equal to your monthly take-home pay." If that´s too much or too little, adjust it the next time you cycle.
I´ve said before, the precision of the Money Merge Account is like looking into a large mirror set into a solid gold frame. My you look handsome in that mirror! That mirror (the MMA) will show you the exact date and time your mortgage will be paid in full. Their software is a multi-million dollar mirror. But if you´re just shaving, the round, steel-framed mirror that pulls out from the wall on an extension arm will show you all you need to see. And you´re still just as handsome. You can know your home will be paid off in eight years, or 12 years, depending upon how aggressively you use equity cycling.
No, you do not need fancy software to use this financial principle that allows people to pay off their homes in about a third the time. And if you do not enjoy writing down every pack of gum you buy, that system may be too fancy for your personality.
That´s what I mean by a personality match. Some folks like fancy mirrors and paying $3500 to know exactly, to the penny, when their mortgage will be paid sounds appealing. And if those people either enjoy bookkeeping, or have assistants who do it for them, the MMA could be their best option.
But for the rest of us, people for whom knowing the year, but not necessarily the day, the mortgage will be paid off, people who know how much the earn and spend, but don´t want to write down a quarter they put into a parking meter, Let Your Mortgage Make You Rich! might be a better choice.
If you´d like to estimate how much you could save on your home without the benefit of a solid gold frame on your financial mirror, see the calculator at www.LetYourMortgageMakeYouRich.com/calculator.php. If you want to talk about your best mortgage reduction options, my tollfree number is 888 664-6651.
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