As a society, we have been led to believe that focusing only on the interest rate of a debt is the number one factor in determining whether that debt is expensive or cheap compared to our investments, as well as in determining which order we should pay off our debts for our financial advantage.

How the interest is calculated and the length of the term rarely seems to be considered, along with the multitude of other factors that make up the whole debt package.

Advanced Strategic Payoff is the Bank Strategy that looks at every aspect of each individual debt, along with incorporating a debtors income and monthly living expenses as well, to determine the fastest way, mathematically, to pay off their financial obligations.

The #1 New Year's Resolution is Losing Weight. The #2 New Year's Resolution is Paying Back One's debt. So this is a very hot topic. But how many people actually accomplish this most important goal? And if this is such a major factor in whether one leads a life of struggle, an ordinary life, or a life of luxury, why don't more people try to understand money, how money works, interest, and how interest works?

I'll tell you my opinion: It's too complicated for our overburdoned, busy lives to cope with; along with the fact that lenders really do not want you to know this information so it is not readily available.

And even if you did know it, who would actually implement using it without some major, most likely expensive help?

Let's look at the diagram below.....trying to figure out which of these 6 debts to payoff first would be a challenge mathematically. It would be like trying to find the lost combination to a 6 digit lock. There are hundreds of choices. But once we add in all the varying factors of each debt as well, the hundreds becomes thousands and then millions. According to Factorial Mathematics just 13 variables means there are over 6 billion choices.

So, do you know the fastest way to payoff these 6 debts? There can only be one fastest way. How long would it take you to figure that out? And then would you just focus on one debt and then another and then another, or would you choose to pay some of this then some of that etc.?

1. Interest Rate

2. Interest Calculation - amortized schedule, average daily balance, and who knows what other types they have come up with.

3. Fixed or variable interest rate

4. Original term of Loan

5. Current term remaining

6. Monthly, bi-weekly, semi-monthly, quarterly payment schedule of loan

7. Monthly, bi-weekly, semi-monthly, quarterly payment schedule of income

8. Average monthly living expenses

9. The varying, but actual monthly living expenses

10. Percentage of monthly living expenses paid with a credit card.

11. Percentage of actual living expenses paid with a Line of Credit.

12. Percentage rate charged on the Line of Credit in case not paid off in full each month

13. Percentage rate charged on the Credit Card, in case not paid off in full each month.

14. Where income is placed each month (in what accounts)

15. Savings account interest % earned.

16. Actual date money comes out of account when bills are paid.

17. Are there any tax advantages or tax charges involved.

18. Are there any penalties for paying early involved?

I could go on but I don't think it is necessary......

How much time do you think it would take you each and every day to figure and re-figure, with every changing number, where the best place to put your money is?

Who has the mathematical brain capacity to comprehend and calculate all these variables?

How much money would you have to pay an accountant, or financial planner to spend hours doing these calculations for you? There would not be enough time in a day to do this for each and every one of their clients.

How fast and accurate could a human brain be, compared to a computer with mathematical algorithms and factorial math calculations programmed into it to find the one, and only one, fastest way to zero debt?

Isn't this just too overwhelming for most, and I do mean most, people, to even comprehend?

Consider a cold, hard, accurate to the penny, mathematically calculated fact versus a personal suggested mathematical opinion from a 'financial expert' and you may lose tens or hundreds of thousands of dollars of interest savings along with losing years of monthly payment savings you might not have had to pay.

I believe the three biggest reasons we have been lead to believe that only the interest rate is important are:

1/ Because the time and money and effort to consider all the other factors would make it not worthwhile for the debtor to pay someone (accountant) to do these calculations for them.

2/ The fact that by not understanding the differences in the way interest is calculated and how the other factors are also important, people are way more easily lead astray when it comes to financial advice and so the lenders make way more money

3/ No matter how clever or mathematical your mind is, it is just not possible to match the calculations that a professionally programmed software can do instantaneously.

But until now, there has not been a software available, capable of working like a GPS, that is programmed to read all of the variables in each person's personal financial situation.

Now there is a financial tool that can do all these calculations for you, in real time. It is called the UFirst Money Merge Account software, coaching and education system and it is awesome. I use it myself and so I can atest to it's value and accuracy.

In case you have not read my other hubs in this series, begin here with Bank Strategies 1/6 - Cancel Interest Charges

(Jennifer Bhala Hansen is new to internet social networking. But, if this hub article has been interesting or helpful to you, a thumbs up rating would be much appreciated!) Thanks.

This hub post holds the intention of helping all who read it to learn, research, grow, and love our fellow humans/animals.

Information provided here is for EDUCATIONAL PURPOSES ONLY and is in NO WAY intended to replace proper financial advice. IT IS NOT to be construed as instruction on how to pay-off debt or overcome any financial situation the reader may be in.

Every individual is different, thus what may work for one may not work for another person. The writer of this hub post will not be held accountable in anyway if and when the recipients of this hub post choose to apply the information they read for their own personal use. Consult with the professional financial authorities of your choice.

Remember, taking responsibility for your own wealth is your own personal decision: do your research and choose wisely. I commend you!