Pay Your Mortgage Faster With 5 Simple Money Saving Strategies

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Mortgage and Lending with Benchmark Mortgage NMLS# 247026

Get Your Mortgage Paid Down Faster With These 5 Simple Money Saving StrategiesThe monthly mortgage payment can be burdensome, but it's possible to pay it down more quickly. Without getting a new job or working overtime, here are some tips you can use on a daily basis to save additional funds and pay off your mortgage at a swifter rate.

Make Your Lunch

The five or ten dollars spent on lunch might not seem like a lot, but over time this amount adds up to a lot of savings. Instead of hitting the cafe, pick one or two nights each week to prepare a lunch for yourself so you can skip the daily expense.

Take A Coffee To Go

Like lunch, coffee is another thing that can end up costing a lot of money. However, instead of going for the two-dollar cup, make a pot before you leave for the day or opt for the office coffee instead. If you prefer yours on the go, you can always make it a once-a-week treat.

Avoid The Impulse

This might seem like a hard one to stick with, but instead of buying something because you want it, sit on it for a day or two and see if it still appeals to you. In all likelihood, the desire to purchase will pass and you'll manage to keep more money in the bank.

Read The Flyers

Items like groceries may be a necessity, but that doesn't mean that you have to buy the first thing you see. From fruits and vegetables to packaged goods, there are plenty of food items that go on sale all the time. By the time the month is out, you'll be surprised how much you can save just by shopping around.

Skip The Cell Phone Plan

For most people, having a cell phone is a necessity these days. However, there are ways that you can get around the high costs that are often associated with smart phones. Instead of going for the expensive plan you have, settle for a little bit less service and talk to your provider about deals they can offer you.

It may seem like paying a higher monthly amount on your mortgage is impossible, but there are little ways to save each day that can help you pay it down faster. Add your money saving ideas in the comments below.

If you're planning on looking for a new home in the near future, contact one of our mortgage professionals for more information.

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Rainer
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Karen Hellier
Freelance Writer - Big Canoe, GA
Freelance Writer for Professionals, North Georgia

Great tips Diane. Being a "frugal Yankee" I am always interested in tips to save money. Thank you for sharing!

Jan 19, 2017 01:15 PM #1
Rainmaker
1,950,774
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

I've never been a wasteful person and save money wherever possible. These are great tips and very easy to do!

Jan 19, 2017 01:36 PM #2
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

These are fantastic tips.  And when it comes to house coffee, as I call it, I love it.  Who needs Starbucks when you can make and take a delicious concoction for pennies at home?

Jan 19, 2017 02:31 PM #3
Rainmaker
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Simple ways to cut back on expenses. Everyone should have a way to do this - and when applied to your mortgage, can definately pay it down quicker. 

Jan 19, 2017 03:22 PM #4
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Diane Beaumont

USDA,FHA,Jumbo,VA Woodland Park, CO Mortgage
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