Let's face it, Americans spend to much of the money they make. We are in a society that teaches people to spend money not save it. Due to this we are a nation of ageing baby boomer's and most do not have 50k saved for retirement. Why, one of the biggest reasons is  a lack of knowledge about financial fundamentals especially when it comes to Debt, Compound Interest and how it works, and most importantly not knowing what it really takes to retire on a decent income. Statistics show that the median income for older Americans is only a bit over 26k per year. We have the greatest opportunity for wealth of any country in the world and yet only a few 4 out of 100 retire on incomes of over 45k per year. Tragedy is what that is.

How can we fix the problem. One way is to teach people how to use their money like the banks do. How to become their own bank so to say. Let's take the biggest debt people have, Their Mortgage, with todays home prices and people chasing rates, they refi about every 5 years with a new 30 year loan and they will most likely never pay off their home.

Why do people always chase interest rates? Answer they want a Lower Payment or they want to pay less interest right, What if they never had to chase rates again and never had to refi again and could be debt free in about 10-15 years on a traditional 30 year mortgage, How, you say. With the HELOC 1st mortgage program that combines your checking and savings account and your mortgage all into one account. All money made goes in the account and immediately reduces the interest charged and when you need to take money out for daily and monthly needs you simply take it out like you would with a normal bank account. The big difference is each day your money stays in the account until it is actually used you are reducing interest on your balance. HELOC loan interest is computed daily based on the balance of the account. Over time this could save you HUNDREDS OF THOUSANDS of DOLLARS and YEARS off your mortgage. Think of how much you could save for your retirement if you could pay off your 30 year loan in 10-15 years and HAVE NO CHANGE in your spending habits.

After 20+ years in the money business I can say that for millions of Americans this could be a Tremendous tool for those that still Make more than they Spend, Have some discipline, and get more educated about money and how it works.

I market this and other programs for Mortgage Acceleration and feel very strongly about them. Why because for the right people they are a terrific way to reduce debt and increase savings in a time when it is so desperately needed

Tim Turbeville is committed to helping people win the money game.