Most people think and some communicate that the best way to get out of debt is to live on rice and beans and focus every extra dollar to paying down debt.... or do they? Most celebrity and celebrated Debt Gurus are focused on plans that have you still saving in your 401k and IRAs while you try to pay off your debt. Why?

This is a math question, not an emotional one. The problem is compounding interest and the lie of average returns.

Look at our table below.

Year 1 $10,000 +100% Gain = $20,000

Year 2 $20,000 -50% Loss = $10,000

Year 3 $10,000 +100% Gain = $20,000

Year 4 $20,000 -50 Loss= $10,000

Totals The average rate of return 25%

Total gain = $0

If I can take that same $10,000 and pay off $10,000 of debt from a revolving credit card over the same 4 years with a 23.99% APR. I would save $5,235 in interest payments or have 52.35% return on the same money.

Which would you rather have: An average rate of return of 25% or a guaranteed return of 52.35%?

There are other tools that individuals can use to maximize your "Snowball" or "Avalanche" method of debt payoff.

If you start with a few dollars and save by not eating out and not enjoying life to start the snowball it is hard to keep it rolling. Or how do you start an Avalanche?

By dumping the right amount of snow at the right place to leverage gravity and the density of the snow. Your debts are the same way. There are tools to identify the optimum amount of money to pay off your debts two to three times faster and have a reward at the end.

Most people looking to pay off debt pay some here, some there and do not have a real plan. Even fewer have a math-based plan for what will provide the most bang-for-the-buck, giving dollars two or three jobs.

There are tools like Mydebtcloud.com where the staff can run a report to identify those numbers and leverage points. They can help you and the best part is they don’t charge you for the help. There are other financial tools that one can leverage to provide a guaranteed snowball of growth and debt elimination faster than if you try to do it yourself.

As a personal testimony I have used these tools to pay off $128,000 of debt in under 5 years. Plus, because I used all the tools available to me through Mydebtcloud.com. I am getting a thank you check from the superior financial tools I used, as I close my accounts. So I am debt free in 5 years and I will have a check of $38,145 of leveraged cash I used to pay off my debt 2-3 times faster.

So Let me ask you how long have you been listening to the radio Gurus telling you to SAVE, Save, save? Don’t spend and keep saving in qualified accounts with their network of professional investors.

So, you are miserable and stressed, are your debt free yet? If you have been listening for more than 5 years odds, are you could have been debt free if you tried some of Mydebtclouds.com tools and services. Learn more by booking your free one on one virtual meeting with a debt specialist go to https://mydebtcloud.setmore.com.
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Mario Henry (www.housevisors.com), a former National Football League player, is a financial services professional with 18 years of experience in the industry and author of How to Hire Your House, an innovative guide on how to create a tax-free pension and sustain sufficient income through retirement. Mario also is a licensed insurance broker and a national motivational speaker. He was a wide receiver with the NFL’s New England Patriots and a scholarship football player at Rutgers University.

Peter J. DeRosa, president of DeRosa and Associates, is uniquely licensed in both the insurance and securities industries.