Creative Ways To Pay Off Your Mortgage Faster
Committing to a mortgage is one of the most significant financial decisions anyone can make. When financing your Highland Beach Condo, making the wrong move could lead you to ruin. On the contrary, and in a much more optimistic tone, consider the benefits of paying off your mortgage early. While the benefit to your credit may not be as significant, the loss of funds to interest far surpasses any lost benefit to your credit score. After all, a credit score is worthless if you can't afford what you're qualifying for. For the early birds, late workers, and fiscally present homeowners, here are some creative ways to pay off your mortgage.
Round Up To The Next $100, or $1,000
One way many millennials have automated little savings is with the "round-up rule." It states that any amount spent should be rounded up to the next dollar, with the difference going to savings. For instance, if a candy bar costs $1.17, the roundup rule would determine that the additional $0.83 to reach $2.00 would be automated to savings. The same logic can be used to attack your mortgage. If your payment is $2,687,...