Pay Off My Mortgage
If you ever wished you could get a loan that you could use to invest or start a business, here’s a great way to do it using cycling. Using the following example you’ll be cycling the banks money with two credit card balances. By doing this you will be able to deposit a lump sum of cash in your personal account without incurring any interest or having a payoff deadline.
I recommend using this money only for purposes that will bring in additional money. Like property investment or starting you own business. I don’t recommend using this money for impulse purchases like a new car, a boat or anything else that’s going to end up losing its value.
This cycling technique is a very powerful cash system. Use it to your advantage by investing the money wisely. You may also use this money to pay off existing high interest debt. When you do this you’ll want to open a money market account where you deposit any extra cash. Over time while you’re cycling the money back and forth…you’ll have saved up enough money to pay the original balance off. All without paying a cent in interest!
The chart below uses the following examples: Note: The credit card names are strictly used as examples. You may use whichever credit card you’re comfortable with.
• $10,000 line of credit from your bank
• $10,000 credit limit Amex credit card
• $2,500 credit limit Master card
• $2,500 credit limit Visa card
January
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February: Use your Amex to pay off bank credit line balance of $10,000
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March: Use Master Card and Visa to pay Amex balance in full
April: Now you will pay Master Card and Visa off using your Amex.
See how simple and powerful this is? Continue to cycle back and forth for as long as you wish. Make sure to pay each balance full every month and you will never incur any interest charges on this loan.
This entire time you have $10,000 sitting in your personal account gaining interest just waiting to be invested.
You have just given yourself a $10,000 loan with 0% interest that doesn’t have a pay back off date. Allowing you to take as much time as needed to repay the loan.
Be sure and use this technique wisely. If you have any reservations about your ability to manage money responsibly…I recommend holding off on using this cycling plan until you have better will power and stronger money management skills.
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