Laura’s Cheap Trick # 9

Make an extra house payment each year.

If you make one extra house payment each year you will cut 5 years off of your total mortgage debt due.  (A 30 year mortgage will be come a 25 year mortgage.)  If you are unable to make this as a full separate payment I recommend dividing that payment up by 12 and adding to each of your monthly payments.  (Make sure to note this money is to be applied toward your principal payment.)

Can’t make a full payment add an extra $100 toward your principal it will make a difference in the end.

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About laurascheaptricks

Laura is a mom entrepreneur who owns a successful television production company in the greater Washington DC area. As the daughter of a couple of WW2/victory garden parents she is a free - associative thinker and often explores new and more efficient ways to accomplish tasks and save money. "I come by naturally."
This entry was posted in Finance (Debt management), Home Tips, Standard Cheap Tricks and tagged , , . Bookmark the permalink.

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