Over this month, I’ve had the opportunity to pay off the Upstart loan and reduce the balance on the Capital One card. Thankfully I was able to do this payoff and reduction through a zero percent balance transfer to a new card. With this transfer, my payments to the Capital One card will be reduced, and the term loan payment of $207.29 is no longer a part of my debt repayment schedule.
Remember that the benefit of a term loan is that the principal and interest payments will in a fixed time pay off your debt. Even though this type of loan pays off debt, it can reduce your cash flow. Positive cash flow is important to survive and acquire passive income producing assets. With the debt now being converted to a zero % interest debt for 15 billing cycles, I’m able to focus use more of my income to pay down that balance or because now the payments are interest only, I’m able to focus more money towards other debt balances. It is important to stand firm and maintain your debt reduction strategy. The minimum balance payment of this card will be less than the original payment to upstart. Have someone to discuss your debt reduction strategy with, and if you need a financial checkup contact me.
The rich ruleth over the poor, and the borrower is servant to the lender.
https://bible.com/1/pro.22.7.kjv
I believe in your journey to….
A Debt Free Me
Pursuit of Excellence 
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