Want to Shave Years Off of Your Mortgage Payments?
We would all like to pay off our mortgages sooner rather than later, right? But with mortgage payments that never seem to end and interest payments that continue to pile up, it’s easy to get in a rut with bare minimum payments. Well, did you know that if you make one extra payment a year, you can save yourself years of interest payments? Saving up to make another payment may be intimidating at first but when you understand the long term impact of what one extra payment can do, it’s easy to make the commitment.
There are also tons of apps you can get for your smart phone or mobile device that aid in budgeting and saving. They connect to your bank account and track your spending for you. Getting in the habit of tracking your finances is beneficial regardless of what you are saving for. Set up a day each week or month to check in with how you are doing. You’ll be surprised how fast those morning lattes or lunches on the go add up!
Dedicate yourself to make that one extra payment this year. You’ll be glad you did!
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