I plan on working as a Personal Trainer, just working on my certificates now. You can set your own schedule with clients and be flexible depending on what gym you are working at. You can make anywheres between $25-50 an hour session with people.

Real Estate

Fosters -

I can see from your post that you've done some research on the Money Merge Account. I can also see that you've picked up some unfortunate misconceptions. I seriously believe that if you did a little more research, you'd see that MMAs are not only nothing close to a scam, they're nothing short of a revolution in the U.S. mortgage banking system. I just ran an analysis for a client two days ago that has them debt-free (including the HELOC) in less than five years, saving them over $230,000 in interest charges (even taking the HELOC interest into account) and allowing them to choose (for the more than 22 years they won't have a mortgage that they would've otherwise) where to put the $3800/mo they're now putting into payments on debt! I'd say that's worth way more than a one-time fee of $3500 that they won't even pay out-of-pocket. As for doing it yourself, I would be profoundly impressed if any one of us could achieve results anything close to what I just mentioned by simply using a spreadsheet program. Lastly, the rate on the HELOC actually barely matters at all. Since I am apparently not allowed to post anything here, please PM me soon so you can find out what MMAs are really about.

I apologize about referencing it to a scam. It does what it says it can do - pay off your mortgage quicker than making minimum monthly payments.

Now, run some numbers for me:

• $200k mortgage on a $300k home
• 6% interest rate fixed for 30 years
• $60,000 net income/yr
• $48,000 in bills/expenses averaged out through the year
• $1000 left over (discretionary) per month

What do you come up with for payoff time, interest paid over the life of the loan, and average loan APR?

In these forums you can talk about things, you just can't juice your own product (ie click here to sign up!) sort of deals.

I'm interested in hearing back from you (on the public forum, not in private). I am interested in seeing if using a MMA actually reduces the interest paid.

EDIT:

Also add to the list:

• 10% HELOC
• Paid Bi-weekly

Okay, I ran those numbers. Please keep in mind, I had to make some significant assumptions based on the data provided. The big one being no debt other than the mentioned mortgage. If there was other debt, it would significantly alter the numbers. You can roll other debt into the program and quickly get rid of it too, because of the effect of the increased discretionary income realized by rolling a car loan (for example) into a HELOC. Also, I had to assume that the MMA is initiated at the start date of the mortgage, since no remaining term was provided. These numbers also do not take into account any raises or financial hardships, windfalls (tax refunds, profit sharing, etc) or unexpected expenses, or any tax benefit provided by the fact that the little bit of interest you pay on the HELOC may be tax deductible. Based on the data you provided and the assumptions above (and requiring no increase to your spending and no out-of-pocket expense) utilizing the MMA program would:

- Decrease your scheduled interest by $181,805.80. This would be the equivalent of re-financing into a 30-year mortgage at 1.728% fixed.

- Pay off your mortgage in 8.7 years, saving you 21.3 years (256 months) of mortgage payments.

- Allow you to invest the $1199.10 per month that you'd no longer be paying to the bank for those 256 months and, assuming an 8% return, accumulate $1,477,610.53 by the time you would have simply been mortgage-free if you had not used the MMA.

- Allow you to see the cumulative impact of today's financial decisions by showing you what effect on the above numbers would be realized by buying that boat you want, for example . . . thus providing you with a powerful budgeting tool.

Now, some people think they don't want to pay off their mortgage . . . they're willing to pay $3 in interest to take home another $1 in income. If you're of that mindset, buy a vacation property or another property . . . then another, then another, etc. Even without the MMA, you're going to gradually lose that tax deduction as the house pays off through the years, anyway. I'd also like to revisit the 'financial hardships' I mentioned above, since most of us probably rely upon an airline for our primary source of income. So, the hypothetical client we've run these numbers for gets downgraded or furloughed after only a few years on the MMA program . . . after three years, they'd have almost $50,000 more equity in their house than if they'd simply made their mortgage payments. That's like airspeed and altitude when something goes wrong in an airplane . . . priceless. Please PM or post if you'd like more info.

TOGA,

Once again, what is the total interest paid, including the first mortgage and the interest paid on the HELOC.

Sorry I forgot that . . . $57,427.98, and that's included in the above totals and projections.

I have actually been looking into the medical transcription field. My mother-in-law does it for two companies, and she works for both of them out of her home. All you need is a semester or two of training from the local community college, maybe a medical dictionary, and the ability to type. She loves it, and I hope I can find something that I can do parttime.

This is pretty interesting - the DIY version of just tacking on $1000 to your payment per month takes more interest - (even including the $3500 compounding) and almost 2 years longer.

At the end of the time of the DIY version, you'd have over $20,000 in the bank more, even accounting for $3,500 initial outlay. Also you could be two more years into buying your second home and using the first as a rental.

I checked your numbers against another person, theres came out a little bit less ($54.9k) and about 2 months sooner, but still pretty close. Why would the results differ?

I can't PM you...got an email?

It's not about what you do but rather HOW you go about getting the job. When you are a new hire on reserve, it's tough but as soon as you can hold a line, here's how I did it.

1.I would go to the interview (I worked in bars, ski shops, even taught defensive driving!) with a printed calender (calender create program-landscaped) and each day would have a big "F" or a "A" on it. "F" meant I was flying and was unavailable, and "A" of course, meant I was available. Tell them that you will be able to provide them with this on the 15th of every month for the following month.

2. Dress sharp. If your going to go stock shelves at Target, show up in Kahki's and for God's sake, bring a pen.

3. Create a resume. I can't begin to tell you how impressive it is when I owned my bar/rest and someone came in with a rez for a wait staff or bar gig.

4. If you've got your future employee on a fence, don't forget to cheese up that you come with a background check, you'll never screw up their company drug test. Despite the way we sometimes get treated, most of the public still hold Airline Pilot with some regard.

To answer your question directly, get a job doing something you've done before. If you are the silver spoon crowd and literally have never worked before, then it might be tough, but here are some things I've done, or have heard of in the past.

Home Depot, Grocery store, Target/Walmart Stocker(no smart *** comments from the snot nose crowd-I'm helping the guy out!) mobile phone store, car wash, FBO's (gas pumper) and the worst job on the planet, teaching defensive driving!

Hope this helps,

Stick