As promised, here are 3 quick strategies to pay off you mortgage faster than you ever thought possible… 1. The Short-Term Strategy This is a big one. 30 years is a long time to pay for a house. Opt for a 15-year mortgage or even a 10. If you can’t afford to take out a mo...
In this article, I’ll share in more detail why I think you should pay off your mortgage early, how I thought through this decision, some of the pros and cons, and, finally, I’ll share the actual process we took to pay off our mortgage early (PLUS, 5 more strategies). Things to ...
There are some homeowners who have a bad interest rate and want to save as much money as they can in a bad situation. And then there are those lucky folks who just happen to have a lot of extra cash lying around and want to know if using it to pay off their mortgage faster is the...
Pay your credit card debts with a debt consolidation loan A debt consolidation loan can help you save money on interest by getting a lower interest rate. It also streamlines your finances and allows you to pay off debt faster. Consolidate your debt and make fewer payments each month. ...
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode: Learn how to refinance your mortgage, manage credit card debt, and navigate home equity with practical tips and strategies. When is the right time to refinance a mortgage...
The Boomerang Approach:Going back to what you did before your break. If you werelaid offand just want to get back to doing something similar to your previous role, this is generally the best path."You approach your former employer or former managers and look to re-engage in tha...
As you create your monthly budget, make saving a priority. Put down the amount you want to save each month before listing your rent or mortgage, the car payment and streaming services, and even before the amount you plan to spend on groceries. ...
mortgage. These debts require consistent financial planning over time, and their longer time horizon also means that the way you save for them may change over time as you go through personal life changes. For example, if you get a higher-paying job, you can contribute more to paying off a...
to save money on interest and pay off the loan faster throughaccelerated amortization. This strategy involves adding extra payments to your monthly mortgage bill, potentially saving you tens of thousands of dollars and allowing you to be debt-free (at least in terms of the mortgage) much sooner...
Credit card interest is much higher than other forms of debt. In fact, card interest, on average, runs about two to three times the interest rate for ahome-equity loanor mortgage. It can also take a big bite out of your monthly budget. ...