An example for the typical debtor:

Total Credit Card Debt is $9,812 in 8 accounts with interest rates between 14% and 24% and minimum monthly payments between $5 and $77.

Automobile loans totalling $12,000 at 7% interest and monthly payments totalling $250.

Home mortgage of $100,000 at 6% interest and payment of $600 (principal and interest only).

The total of minimum payments is $1,143. As the smaller balances are paid off, the minimum payment is added to the next smaller balance so it is paid off quicker. When all the credit cards and car payments are paid off, the entire $1,143 is paid on the home mortgage.

All accounts are paid in 11 years and 4 months. A total of $27,662 is paid to interest. No additional amount is added to the minimum payments required.

Now we add $1,000 a month to the $1,143.

All accounts are paid in 5 years and 2 months. A total of $8,570 is paid to interest.

Now let's add $5,000 a month to the $1,143.

All accounts are paid in 1 years and 10 months. A total of $2,350 is paid to interest.

As a member of DebtFreeIn2Years, you will earn up to $13,150 a month. Paying all of your acccounts isn't that difficult. And once they are paid off, you can build your million dollar retirement fund very quickly.