Biweekly Mortgage Rant – Other payments that should be automatic

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Above and beyond bi-weekly mortgages, here’s a couple other areas financial-wise that I believe should be put on auto-pilot: 

1.  Your insurance and the payment for it.  Whether it be life insurance, home insurance, or car insurance, I think it’s important that people have on auto pilot and put that into action right away without having to think about it month after month.  

2.  An escrow account for your mortgage, if at all possible, to pay your taxes and insurance for your home.  Out of sight, out of mind.  It’s worth the convenience to allow that to be part of your mortgage payment.  If your mortgage doesn’t offer an escrow account there are companies that will help you set one up – email me at info@biweeklymortgagetips.com I’ll be glad to get you pointed in the right direction.

3.  Giving and tithing automatically every month.  Commit to giving away 10% of your income.  Many people say that they’ve had an abundance attitude, and I said this for years too, and refused to believe that there was enough abundance in their lives that God would return greater things to them than to tithe.  I made a commitment to tithe this past year in January 2009 and it’s truly and honestly I can witness to say it’s been a blessing in my life.  In addition, I try to look for other opportunities where I can give and help others, and I’ve always been returned greater, not just monetarily but in other ways. 

4.  Savings, put that on auto pilot.  Each and every month you should be sticking money aside to build a cash reserve for you and your family.  In addition, I strongly recommend that your employer is matching any amount, even if they’re not at all, to really look at trying to maximize pre-tax savings with 401(k)s and other investment vehicles. 

5.  Paying off other debt, which is credit cards or car loans, and not paying these your entire life.  It’s amazing the amount of interest that we actually pay to financial institutions that goes outside of our family for just making decisions a little bit differently than what we could be. 

Reclaiming Your American dream. . .   A lot of people don’t even agree that this is even possible in their own lives today.  I’m here to tell you it is; if you’re committed and have a plan and stay focused on your goal and implement automatic strategies to ensure your success.  Small changes today can make amazing changes in your financial future in the next five to ten years.  Again, this is just my personal belief of things that I’ve seen in my own life work wonders.  I hope this brief rant helps you. 

Many Blessings!