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Ask Dave

Money Merge Mayhem

Does Dave think the money merge account plan is a bad idea ... or does he think it's a BAD IDEA?!

QUESTION: Matthew was told by someone about the money merge account (from United First Financial) that helps you pay extra on your mortgage, and that Dave thought it was a good idea. Does he? Not in a million years, explains Dave.

ANSWER: I would absolutely not pay for this. Bad idea! The problem with these money merge accounts is that you buy the software for $3,500, and it manipulates your bills using a home equity line of credit to pay extra on your mortgage. There are 2 problems with this. The first is that you don’t need to pay $3,500 to manipulate your bills; you can find extra money to pay on your mortgage by writing it down on a notepad!

The second thing is that these people are telling you that you can pay off your home with no change in lifestyle. That’s a lie. You have to sacrifice to pay off your home. If you make $4,000 a month and want to pay $1,000 extra on your mortgage, you have to live on $3,000. You HAVE to lower your lifestyle. No software combined with a home equity line of credit will make that happen. There is no magic pill to getting out of debt. The key is living on less than you make.

Thank you! Your guide is on its way!

Want to Buy a House With Confidence?

Want to Buy a House With Confidence and Peace of Mind?
 

Want to Buy a House With Confidence and Peace of Mind?