Become Debt Free with the Money Merge Account – Part 2

In February of 2008 my husband and I met with our financial planner and he presented us with information about United First Financial® and the Money Merge Account^™ program.  We were impressed with what the software could do to help us pay off debt quickly, but we felt that the price tag of $3500 was too high of a price to pay, even though we were told at the time that the software program would pay for itself within a few months.  We decided at that time against purchasing the Money Merge Account and went on with our lives as normal, not making much headway to eliminate debts.

Four months go by and now it’s June. One day on the radio we heard an advertisement about a new program that let you purchase solar power electricity through a lease program and have it pay for itself in 10 years through the reduction in your electric bills. We also learned that there were solar tax credits and solar tax incentives from our city and the federal government.

Because of the solar tax incentives and “going green” is the right thing to do, my husband and I decided that we wanted to look into having solar power electricity installed for our home.

For over a month we had seven different solar companies visit our home and give us quotes on solar power electricity systems.  All of the companies’ price quotes were pretty much in the same ball park, with each company having their own recommended solar products from which to choose.

In July we made our decision on which company to go with. The one we chose did not have a lease program so we had to purchase the solar power electricity system outright.  Now that we made the decision we needed a way to come up with the $26,000 it was going to cost us. By that time we had made the decision that going with solar power electricity was the “right” thing to do even if we had to pay the money up front.

We looked at getting a loan for $25,000 and the costs were way beyond what we were paying for our electricity. We could have gotten a loan for 15 years with a monthly payment of $215 or a 25 year loan with a monthly payment of $173. Or we could get a 2^nd mortgage with an Adjustable Rate Mortgage and closing costs and points.  None of these were viable options for us.

After about a week of trying to find the best way to fund our solar power electricity project, I remembered what we were told about the Money Merge Account and took out the DVD we were given and watched it again.  Let me tell you this time I really started getting excited about the possibilities.

I did some research on United First Financial and about how the Money Merge Account worked.  We contacted a United First Financial agent and had an analysis done to see if we qualified.  Once we did a scenario with our current liabilities we had another one done with the solar power electricity purchase added on.  By utilizing the Money Merge Account program and our home equity line of credit (HELOC) we would be adding less than 6 months to our projected pay off date and not taking on an additional liability of 15 years.  With this information we decided to move ahead and purchase the Money Merge Account system.

In the next article I will tell you what our actual Money Merge Account analysis results were and why making the decision to spend $3500 for this coaching and software program was a “no brainer” for us.

Tagged with: HELOC • Money Merge Account • Solar • Solar Electricity • United First Financial

Filed under: Debt • Finances

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