In this article, I wanted to talk about 15 tips to help pay off your mortgage early. And I
know a lot of us don’t have mortgages, actually, I don’t have a mortgage anymore I actually understand, that there’s a lot of people out there that don’t have mortgages.
But that doesn’t mean you can’t learn from these tips, they are really universal a lot of them for how to get out of debt and how to save money, and I’m probably going to write more articles about how to get out of debt, because I’m noticing that a lot of people want to know how to pay off their mortgage, but I think the critical part to actually paying off mortgage is a fact that I didn’t have any debt to begin with not that I didn’t ever have debt I just didn’t have that much debt or really any consumer debt when I began the process of trying to pay off my mortgage it’s really critical that any other kind of debt kind of gets washed out-and-out of the way you can try to work on things simultaneously, but it takes a lot of discipline, so if you’re a very disciplined person you can do it but otherwise I recommend getting most of the consumer debt and any other type of debt out of the way that would hinder you from saving as much money as possible, because that’s really what a lot of these tips are about.
1 TIP NUMBER 1
To save as much money as you can for a certain amount of time, and I made a post already on how to save money, there are so many ways to make sure that you’re only saving are basically saving, everything (else) than what you need to spend on your necessities and when I say necessities really I mean, it’s just necessities are food, right shelter, transportation, because most of us need a way to get to work, so we can make money you’re electric and your gas for your car, so I’d say like utilities like electric gas and if you have children obviously childcare, our necessities because if you are going out to work to make money, you need someone to care for your children. I put that in the top priorities because it’s the first and foremost most important thing so definitely save as much money as possible.
2 TIP NUMBER 2
is cut your expenses you know you want to make sure that you’re living on the bare minimum possible, I actually acted like we only had one income and, you really have to live below your means and act like you it’s kind of like you’re you’re an actress you know you’re really pretending like you only have one income and many of you actually do have one income, so I’m really talking from a perspective of someone who is you know dual working family but you know you can also, find ways to say if you’re on one income so really just cutting down to the bare minimum and you know making sure that you’re only paying for those things and you know, but it’s only for a certain amount of time I’m not saying do this forever right.
3 TIP NUMBER 3
you want to make sure that you drive a paid off car when I say get rid of all of their debt you want to make sure that you have a car that isn’t costing you an arm and a leg every month I know people who have cars that cost more than half of a mortgage payment or an entire mortgage payment and that is that it’s nice to drive a new car to trust me it’s nice to look good at the red light and feel good in your new car but, when you do have a car that’s paid off you’re able to focus and laser in on goals that you have and for many of us the goal is to be debt-free including our mortgage.
4 TIP NUMBER 4
let me get to that it’s cut your food spending you know when I say cut your food spending a lot of us go grocery shopping, and then we go out to eat anyway right if you’re going to do that make sure you have a freezer or make sure that you have things that you can you know to recycle into the next week but you want to make sure that you’re cutting your food spending and I don’t think you should cut your food spending in terms of you know buying a healthy food or making you know things that aren’t nutritious for your family food is a top priority my family we do have a good line item in our budget to spend on food, but we don’t buy food at the grocery store and let it go to waste and then go out to eat so cutting your food spending and cooking at home is going to save you money.
5 TIP NUMBER 5
its just doing your grooming by yourself you know I mean doing your eyebrows doing your hair doing your nails you know you don’t need to succumb to society’s standards of you know going out and doing things that other people do in order to look beautiful you know you’re beautiful if you’re a woman on your own if you’re a man Rock what you have you know do things that make you feel good on your own and grooming is a huge portion of a lot of people’s budgets they spend so much money you know on nails and eyelashes and hair and either keep it natural or try to figure out how to do it there’s a lot of DIY on YouTube, you know to figure it out but save money while doing that.
6 TIP NUMBER 6
is cut your entertainment expenses and vacations I’m not saying you can’t go on another vacation but you know for the time period that you’re trying to be intense about your budget make sure that you’re not going on vacations and make sure that you’re cutting your expenses and if you are going on vacations make Then small little trips or things that don’t cost a lot of money so Road small road trips day trips spending time together doing things that are out of the box and I also share a lot of those ideas in my other videos.
7 TIP NUMBER 7
you have to stop shopping you have to get out of the mall you have to use what you have stop shopping just don’t even do it shops for what you need I mean by even today my biggest trip to go shopping is to shop for groceries I don’t go to the mall but you got to stay out of them all that’s key, also survival first, making sure that your basic survival needs are met and everything else is just focused in on the goal of you know saving money and paying off that mortgage.
8 TIP NUMBER 8
pay half of your payment early like every sort of every two weeks and if you can do this you’ll be saving around twenty-four a thousand dollars in four years okay so that’s another thing, you can round up your payment and increase your payment in order to sort of give yourself a bonus at the if you get a bonus you can sort of raise up your payment or add money to your payment.