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I wanted to tell you 10 ways to pay off your mortgage faster, because if you are anything like me, it is always on your mind. I hate having a mortgage. My husband and I are on the road to paying it off at least 8 years sooner, but we want to go above and beyond and pay it off at least 15 years ahead of our set time.

Can you imagine how nice it will be to have the burden of that debt off of your shoulders?

A woman sitting on the floor with a frame of a house drawn on the wall behind her with text above it.

10 ways to pay off your house 10 years sooner.

1). Be sure that you have good credit.You want the lowest interest rate possible, because this will mean that you are paying less, overall, for your home. You can check out your free credit score at Credit Sesame and find ways to lower it, before you buy your house.

2). Pay yourself monthly. Contribute money every month to your money market account for your home. Give whatever extra you can – $250 or $1000. Find what you can spare and save it. (You can find the right money market account for you here)

3). Get an extra job and use that money ONLY to pay off your house. Be sure to find a job that you enjoy… don’t be so busy making a living that you forget to make a life.

4). Can you rent out part of the home or do something else like rent it as a vacation owner? (You can find a site that lets you rent out your house for days at a time).

5). Make an extra payment every year. You will take at least 4-8 years off of your mortgage. We do this (bi-weekly payments).

6). Better yet, make an extra payment each quarter and take 8-11 years off of your mortgage!

6). Find a mortgage calculator to see how much extra you need to pay. I will admit that I look at these all of the time! I love to see how quickly we could pay it off if we put a few hundred (or thousand) extra onto our payment every month. I love to watch that number decrease by adding just a few extra dollars to each payment.

7). Can you refinance for a lower percentage? First you have to make sure that you can afford the higher mortgage payment. So if you are going from a 30 year to a 10 year, they payments will be MUCH higher. Consider your financial situation before taking a dive like this one. Would it be better to do this or to just make the extra payments? WIll you have enough left for emergencies?

8). Round up your payments every month. If you owe $867 every month, round it up to $900. If you can’t do that, at least go up to $870. Its about the same as a cup of specialty coffee.

9). If you earn more money at work, pay more money out to your mortgage. Don’t spend the extra money. Live like you used to live and save the extra.

10). Keep your dream in mind and don’t let others get in the way. When you are shopping and you see a $30 shirt, just stop and ask yourself would this money be better spent on that shirt (or on that meal or on those shoes) or on your mortgage.

This was a sponsored post by Credit Sesame.

20 ways

Moms guide to saving money - 4th edition

Hi there!

I’m Becky, a former elementary school teacher turned certified child development therapist and blogger. I work at home with my husband and together we are raising (and partially homeschooling) our four children in the Carolinas. I love diet coke, ice cream, and spending time with my family.

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