Keith Appleby is one of the leading authorities in the field of business and the author of numerous books on this subject. He has been called “The Father of Corporate Finance” by Fortune Magazine. His contributions to the field of finance are many and have been recognized with awards from the American Association of Business Leaders, the A.B.C. and the Veterans of Foreign Wars. Keith Appleby served as a consultant to several large corporations before retiring in 2021.
One of the things he has done is to introduce what is called the value added tax or VAC, which is based on the amount of an item that you purchase. The sales tax that we apply to our regular income is based on the money that you spend. Keith Appleby suggests that using this system can eliminate a good deal of your credit card debt. Let’s look at how this works.
First, your credit card company will calculate the amount of money that you owe them based on the balance that you owe on the card. They will add in your monthly payment plus any other fees that they feel you need to pay. Once this is calculated, they will then take your net worth or the amount of money that you have to spend minus any amount of cash that you have on hand. They will figure out your new amount and let you know what your obligation will be.
If you owe money on more than one credit card, the total amount of money that you owe will be much larger than if you had only one credit card. If you owe money for items such as a house and a car, your obligations will also exceed your assets. Therefore, your next step involves finding a way to lower your obligations.
The only way you can reduce your obligations when your total credit card debt exceeds your assets is to get a lower interest rate. This means that your payments will drop dramatically and so will the amount of money that you owe. This does not mean that you should do nothing to decrease your obligations. In fact, you should continue to keep up with payments on your credit cards. However, your interest rate must be lowered so that you can save money each month.
If you want to reduce your liabilities to zero, you will need to do more than just get a lower interest rate. You will also need to get rid of any outstanding credit card debt. Some people believe that they should just pay off the credit card that they currently have the debt on. However, this is not always the best choice. If you continue to charge on the account after you have paid off the credit card, you will be charged a much higher interest rate and this can cause you to have even more credit card debt. Click here for more details about Keith Appleby Eugene