John Cummuta - Debt Elimination 101

Copyright 2006 by John M. Cummuta

All rights reserved. No portion of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any meanselectronic, mechanical, photocopy, recording, scanning, or otherexcept for brief quotations in critical reviews or articles, without the prior written permission of the publisher.

Published in Nashville, Tennessee, by Thomas Nelson, Inc. P.O. Box 141000. Nashville, Tennessee, 37214.

Author is represented by the literary agency of Alive Communications, Inc., 7680 Goddard Street, Suite 200, Colorado Springs, CO 80920.

Nelson Books titles may be purchased in bulk for educational, business, fund-raising, or sales promotional use. For information, please e-mail SpecialMarkets@ThomasNelson.com.

All Scripture references are from THE NEW KING JAMES VERSION. Copyright 1979, 1980, 1982, Thomas Nelson, Inc., Publishers.

Compiled from the previously published Are You Being Seduced into Debt?

Library of Congress Cataloging-in-Publication Data

Cummuta, John.
Debt elimination 101 / John M. Cummuta.
p. cm.
ISBN-13: 978-0-7852-8793-3 (hardcover)
ISBN-10: 0-7852-8793-0 (hardcover)
1. Finance, Personal. 2. Debt. I. Title.
HG179.C8378 2007
332.024'02dc22

2006038052

Printed in the United States of America

06 07 08 09 WOR 7 6 5 4 3 2

Contents

Do you want an uncomplicated way to achieve financial independence using the income you already produce? If your answer is yes, I have good news: youre already a millionaire in the making. Im going to show you how to end up with the fruit of your labors instead of giving it away to a powerful combination of opponents set on taking it from you by deception and manipulation.

Are there really people trying to manipulate you into giving them your money? Consider these statistics. According to the U.S. Census Bureau, of all American households age sixty-five and older, 79 percent are living under the average household income, 44 percent are living under $25,000 annual income, and 19 percent live below the poverty level (two-person household). This means nearly 80 percent of all American households will end up trying to enjoy the remainder of their lives on below-average incomes, and just under 20 percent will be scraping along beneath the poverty level. This is a disgraceful record for the richest nation on earth, and I dont think we could have accomplished this bad a performance without some help.

Im going to show you whos doing this to us and how its being done. Then Ill show you a simple system for eliminating debt and redirecting your money so that it builds your wealth instead of others. Youll go from having to work for money to having money work for you. In seven short chapters, this book will help you stop surrendering your financial future and begin transforming your debt into blessingyour bill payments into wealth investments. Its easier than you think, so lets get started!

Recognize the
Great Deception

Have you ever wondered whether the reality you see and experience each day is real ? Are you sure the financial choices you make proceed from your own core values and needs, or are they choices youre very cleverly and subtly manipulated into making? I know this money-draining manipulation is ongoing, because Ive spent most of the last three decades in the marketing industry and know how the process works. Im going to unveil some of the mechanisms behind the industry so you have a fighting chance to defend yourself.

WELCOME TO THE REAL WORLD

Have you seen the movie The Matrix ? The hero, played by Keanu Reeves, helps free the world from a master manipulation being perpetrated on its people. Nearly all the humans on earth are experiencing what they think is reality, but each persons reality is actually images and emotions being fed directly into his or her brain by powerful machines that have taken over the planet. The humans are simply being used by the machines like batteries. They lie, unconscious, in liquid-filled pods, while their body heat and electrical energy feed and power the machines.

Thats a pretty close analogy to our financial reality today. Were being used by a powerful coalition of economic and cultural giants who are feeding us an illusory reality while we quietly and cooperatively feed them our wealth.

In The Matrix , Neo is the character empowered to challenge the machines control over humans. He gradually frees the humans from their counterfeit, involuntary reality to their self-willed, self-determined future. So, like Neo, Im here to tell you that youre being used to power the operation and expansion of these mercenary giants. Youre being fed illusions of progress and prosperity while the financial life is being drained out of you.

Who are the conspirators behind this illusion? Before I answer that, let me tell you how I began to see what they are really up to.

MY STORY

I thought I was living the American Dreama financially successful life, according to the cultures definition. I was senior partner in a successful business, I had a big home, I drove a new Corvette, I had an airplane at the airport, my wife and I took expensive vacations, and all our clothes had the right labels.

Then one day the sole source for the product our company was selling went out of business, and before we could recover, we were out of business, too. Virtually overnight, my income went from really good to really zero. Thats when I realized I had just been renting someone elses definition of the American Dream. I was simply funneling my income to the big businesses that had sold me the illusion.

In an effort to save the house, I sold everything that couldnt run away. Thankfully, after a couple of months, I secured a good job and we were able to hang on to the house, but my new income was nowhere near what it had been, so we were perpetually behind. What followed was the worst year of my life.

Then one day it hit me: It wasnt the loss of income that had put me in this position. It was the debts! And I was totally responsible for having allowed all that demand to be created in my life.

Over the next year I read every financial book and newsletter I could get my hands on. I attended financial seminars, workshops, and conferences across the country. After all the study, development, and testing, I created the initial version of what is now called the Transforming Debt into Wealth system. In less than five years, we followed our system to debt-free financial independence. Today we have no debts, own everything in our lives, and live off the cash flow generated by our investments. And we accomplished this with our paychecks!

But the fact that the system worked so well and so quickly actually made us angry, because we realized how wed been manipulated into believing wed have to live with debt till we died. A little self-analysis revealed that my desire for success and self-gratification had been used against me to entice me to overextend myself. I had been cheered on by my creditors and the other purveyors of the success illusion. Lets see just how shrewd they are.

UNMASKING THE
COALITION OF FOUR

Theres a shadowy relationship among the four most powerful industries in our economy, and your financial survival depends on understanding that relationship. I call them the Coalition of Four: the Merchants, the Advertising Industry, the Media, and the Credit Industry. They have but one purposetheir mutual enrichment.

The Merchants

The Merchants operate on the premise that you and I will never be content with the stuff we have or tire of rewarding ourselves with indulgent experiences. So they produce endless streams of products and services that their Advertising Industry partners can brainwash us into wanting and buying.