We’ve been discussing over the last week or so, the Liberation Cornerstone. And over the last couple of days, a little bit about debt annihilation.
One of the things I want you to remember is that when you pay off a debt, you don’t have extra money now to go have fun with. No! Because that’s NOT the trajectory you’re on!
You’re moving toward getting debt free!
So take that little bit of money from paying off one bill…make sure you’re always rolling up to the next bill…and then the sum total of those two onto the next bill…and so on.
I think that you’ve got the picture.
I want to give you an extra tip today that’s going to help you reduce your mortgage really quickly. Actually, I’m going to give you two mortgage tips!
Here’s the 1st one: If you were to simply pay an extra mortgage payment every year (so that would be 13 payments instead of 12), you can pay your mortgage off 7 years more quickly (maybe even more) than if you just paid that monthly mortgage payment every single month for the next 30 years. How would you like to get out of your mortgage debt in 23 years instead of 30?
Another great tip to reduce how much interest you’re paying on your mortgage: instead of paying that bill just once a month…let’s just say your mortgage payment is $1,000…pay $500 on the 1st of the month, and $500 on the 15th of the month, and you’re going to outrun that interest.
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