I have been done with my mortgage for 13 months. I have to tell everyone that a paid off home is a great feeling!!!. I'm able to save sooooooooo much! I am 27 been debt free since October 2015 at 26 (one month shy of my goal at 25). the grass feels different and the house is actually YOURS!! none of my friends even have a house and I'm here with a paid off home, 401k, Roth ira, and looking for a vacation home. and done making just under 40k. (I make 48k now though). just sharing to give someone encouragement!!!
That is awesome!!! Congratulations!!! We would love for you to share your story with our audience on our podcast and video if you are ever interested. Email us at info(at)hisandhermoney.com and we will get back with you shortly. Keep up the great work!
How did you do it we have a mortgage left on a 30yr term and we have been in it for 4 yrs our total balance left is 208k and our monthly payment is 1669.21 how can we pay this down quickly in the next 6 years
@@HisandHerMoney I started paying extra on my condo mortgage when it was at 105k. Now I dropped it down to 85k. I was paying a extra 2k a month towards the principal payment. This year I'm gonna do a extra 3k a month towards the principal and my goal is to have my place under 50k at the end of the year.
That's gat! We had a 7 year $26000 mortgage and we added just $50 over the payment and got it paid off in just over 4 years. What a relief. We felt so proud.
My husband and I did this and paid off our 30 year loan in 13 years. There is NOTHING better than paying off your mortgage and not having that payment especially when your kids are ready for college. Retirement comes faster than people think and it is sure a lot easier without a mortgage payment.
Jorge Inti Hi Jorge, we put an extra 100.00 on the payment and more than that when we could. it knocked the principal down faster so we were able to pay it off much sooner. The interest rates weren't as low as they are now. if I were paying it down today I would get the lowest rate and shortest term I could, then add money to the payment to knock out the mortgage.
Nancy Herkes hello if my mortgage remaining balance is $208,129.54 and my monthly note is $1669.21 about how much extra do you suggest I put towards it each year in order to get it done in about 10yrs also I will be switching to biweekly payments as well
@@awiseguywhousedtobeafool9166 I have a mortgage. You do not have to pay bi biweekly. I have the bank automatically take 3 times my mortgage every month once a month, Same principle at the end of the day.
Excellent video. Thank you. Our mortgage was 20 years originally. I sold my 2 year old Jeep and bought 2 older vehicle with cash. The former loan payment is paid onto the mortgage every 2 weeks. The bank tried to deter us from making extra payments as there is a 3 month interest penalty on payments over 15% of the original amount. I told the bank person that 3 months interest sure beat 10+ years worth. We also no longer eat out. That money is also put on the mortgage. It has also resulted in us losing weight. I am no longer a type 2 diabetic and save over $300 a month on meds and supplies. We have been in this house almost 4 years and have 39 more months left on the mortgage. I cringe at how much interest would be paid on a 30 year one.
Loved your advice. Im a registered nurse and I work 36 hours a week to earn extra money. I try to pick up one extra shift per week giving me 48/week. I also will work other nurses holidays so I can make time in a half. My car payment will be paid off by the end of this year instead of 2019. God is good!!!!
I started doing side jobs, especially in nice weather. Don't EVER let someone tell you they're on a fixed income, if you are not ederly or disabled...there are ways to make extra money. I detail cars and clean windows. There have been many a weekend that I brought in an extra $500-$1000
I have grown to love your channel thank to Dave Ramsey & RUclips!! I am rethinking my whole attitude about money and debt!! I don't have no major debt, but i believe that a "refresher' course never hurts anyone!!! Always be open to new ideas I say!!
I don't have a mortgage payment, I've inherited my grandparents home that is paid for but i think i will apply some of these tips to paying off my car and eventually my student loan debt
You forgot to mention the $$ you save by paying off mrtg earlier, not only will you pay it off earlier but it saves a tons of money obviously. I use bankrate mrtg calculator to figure how much you save, you can see how much interest you save with the amortization calculator. For example if you get a 100,000, 30 year loan @ 4.5% you will pay $82,000 in interest after 30 years. If you pay it off and extra $200 a month you save $42,000 in interest and pay it off in 17 years instead of 30. You save $40,000!!!!!!!!!!!!
I have become obsessed with all of your videos. Its so nice to see a positive couple working together and having something intelligent to say lol gives me hope. Thank you for all the advice.
Our mortgage company charges a hefty fee for the bi-monthly payment so what we do is a principal reduction payment each month 2 weeks after our regular mortgage payment. Just like you guys we're now down to a 15yr mortgage (from a 30yr) after 7 years of doing this! Gotta love that!! :)
+Momma Allie Bi weekly plans. They do work! BUT!, As they said in the video, It can be done on your own! First, How do they make money? They have a set-up fee that is a large part of your first "extra" bi-weekly payment and then a per-debit charge at about $1 to $3 per debit. All of which could be going toward your principle! And, they don't put money toward principle every two weeks! They make your regular monthly payments for you and then after they have accrued a set amount, they make a Principle Only payment on your behalf. So, They earn interest on your money until they see fit to make a payment for you! How to do it on your own? A lot of financial institutions are getting in on the bi-weekly game and most have some sort of set-up fee and/or per-debit charge. But you can avoid it all. First, Set up a Savings account at the same bank into which you have your paycheck direct deposited. Next do some basic math. 26 half payments = 13 months worth or 1 extra payment. Now figure how much extra you are willing to pay every two weeks. Every little bit makes a huge difference! Try $75. Think about your paycheck to paycheck, and ask, "Can I afford $75 per check?" Just find an amount you can live with and I'll show you in a moment how much control you have so you can adjust easily! Now, take half your mortgage, round it up to nice neat number, add $75. This will be the amount you have Auto transferred to your savings account the same day as your direct deposit. ( I also add half my car payment also rounded to a nice neat number! ) Multiply the agreed upon bi-weekly number by 26, then divide by 12, and subtract your regular mortgage payment. This will give you your regular "Principle-Only" payment. Finally, Go to your mortgage servicer's site and set up an auto-pay that will include the regular monthly mortgage payment and the "Principle-Only" amount. Done! The real beauty is the automation and control. When you get your pay stub, simply "mentally subtract" that amount and this is what you have left to take care of everything else! And, If the "wheels fall off" of your life, Simply go and adjust the amount paid to "principle only until you get back on your feet. Still, There is something to be said about having a "Rainy Day" fund saved up first. If there is a loss of income, The bank could see equity as profit in a foreclosure situation! Also, a balance should be made with investing and paying off the mortgage! If you can have a true gain on investments over time, greater than the interest paid to the bank on your mortgage, then that strategy should be utilized as well!
I’ve just started listening to you. I’m liking what I’ve heard thus far. I payed off my 30 year mortgage in 10 years, three years ago. I took on an extra job for two of those years. I’ve applied all of my tax refunds towards it too. I kind of went wild and started traveling each month after paying my mortgage off. I’m finding it hard to discipline myself and save money now.
Just discovered your channel - new sub. I get keys in 3 weeks to my new condo.(Feb 2020). Decided to practice the art of DELAYED GRATIFICATION .. and hold back a little on my remodel. ..and take out a 35k mortgage vs. 45k .. simply because I don't want to pay a years worth of nothing but interest. Should have it paid within 3 years .. maybe less. LOVE your channel - and you're so easy to listen to. CONGRATS on paying your mortgage off - inspires me. I put down approx. 70 percent t thanks to late parents. I made sure not to waste the funds on a vehicle or short lived trip. So glad I did it this way. Your channel motivates me further.
Hi Guys, instead of doing bi weekly payments, I do an extra principal "mortgage" payment in December every year (the same amount as a regular payment but directly to principals. ) I also do $200 monthly principal payments. After listening to you today, what I'll do now after watching this, is add another small amount to principal about $20 in between the other principal &mortgage payments to interrupt the interest. Goal is to complete the 30 year mortgage in the next 5 years.
you idea makes good sense. My parent bought a house and one of my sisters bought a house many years after 12 to 15 years. She made on extra payment per year and ended up finishing paying her mortgage at about the same time. so all this stuff is true. Congrats to both of you.
I'm so glad I found your video. I would have thought $20 would be to insignificant but now I believe otherwise! I feel very empowered! I will keep you posted on my success.
Thanks for the inspiration, I can't believe all the time i have been on RUclips looking up nonsense I could have been watching you guys, yall' got me motivated for the #hustleseason
I'm from Illinois I totally understand give me two pair!!!! i just wanna say thank you....i listen to you all every morning!! it keeps me focused thank God for yall
Yall just don't know how much these videos help me out. It really hit me what your hubby said about getting a raise & thinking oh look at all the new things I can buy now. That's so me! Smh I've been debating on buying new furniture just bc me & my hubby are making more money. When I can be paying towards debt.
Kia We are happy to see you have a change of heart. It is important to get out of debt as quickly as you can. Live like no one else, so that one day you can live like no one else! Thanks so much for watching!
We pay an extra 50 a month and an extra 1300 at the end or beginning of the year which is the equivalent of 1 extra house payment to be applied to the principal.
Hello, I loved the video! The part where you mentioned bi-weekly payments was really good. I used to do that to, but since 2010, I do weekly payments. Because you're doing smaller payments more frequently, you hit the interest every week. It doesn't have the chance to build up as much. I served in the Canadian military for 21 years, and I get a pension, so I was thinking maybe I could put at least half of that into the mortgage each month. That alone would be $1000 per month. That would probably hammer the mortgage down a little quicker. Cheers, Rob
Great video guys. I have a 30 year mortgage of $283,000. I am planning of attacking this debt by puting $1000 torda the principle. I want to be debt free and not leave this debt to my two daughters
I really like your channel. It is so nice to find a "couple" that speaks to everyone - not just couples...I am single - you speak to me as well. Some other channels - it is only about "couple stuff" - thanks for the inclusive message!
Great video, I'm pretty much a stay at home wife. my husband pays the bills, I have a hustle job (delivery service ) that I do when I want. but I've always been about paying bills off early. And that's what I do with my hustle $$. Hubby says, well the bills are paid, why do you use the hustle $$ for that. The sooner the better. I loved how you guys broke it down though. We are in the process of looking to buy another home, and I know where my hustle money will be going. he will thank me in 17 yrs.
I paid off a 6 year car note in 18 mos. After the first month, I realized I was paying $60 interest!! I worked all kinds of overtime and slammed that note with payments. Now I'm slamming extra on my mortgage. I'm 3.5 years into a 15 yr mortgage, but expect to have it paid in 3-4 years. Just in time to retire 😁.
You guys are wonderful, provide great info, and are easy to listen to!!! I enjoy listen to you both because your personalities shine through and I never find your videos boring. Such a beautiful couple! God Bless you both and thank you so much for the great videos!!!
I just wanted to say I love your videos I have like binged watch a ton lately I just found your total. I'm 21 and my husband and me are debt free except our mortgage and I just love watching all your budgeting videos because that is one aspect of my life I'm crazy about :)
Yes. People forget how small amounts add up quickly. $25 at Dollar Tree blows some people's minds because each item is $1 or less so people get surprised. I'm a 22 year old low income college student. I have to live on my own and I'm teaching myself about the financial literacy no one taught me growing up. Just cutting out getting my nails groomed from every month to special occasions, I was able to save that $40x7 months which is $280 a year. I'm putting that toward my student loan principal and saving for a reliable car. I'm going to save a lot of money avoiding extra interest by paying my loans down sooner. Time is money in that way as well, debt appreciates and the longer it takes you to pay a loan, the more you pay in the long run.
I’m watching this video again after knowing that you guys have paid off your house in 5 years. We are under contract for a house and just spoke with the loan officer. I’m so excited to implement this plan to knock off this mortgage. After paying off debts for the past years, this will be the biggest challenge yet and I’m ready for it. I’m excited to reach this goal. We are going to take the online class you have tonight too!! God bless you for your teachings.
Note: if you paid the extra payment before your monthly payment will make huge difference. Because the interest rate accumulate by the amount that left.
just subscribed.....you guys should make money as motivational speakers....yall could put that bankroll toward the mortgage....don't know yall bit yall are awesome
I wanted to take sum time out to say 1st thank you thank for for your channel. Myself and husband waited 13yrs to become homeowners we just closed on our brand new home which is 230000$ we were able to put 75,000$ down at closing we did this so we wouldn't owe so much on our home and also our mortgage would be low and comfortable for us to enjoy now that we have finally moved into our brand new home and made our very 1st mortgage payment myself and husband or accepting your challenge to pay off our 155000$ dollar mortgage early we have made a budget we have already started adding more to our principal and we set a time frame to have our mortgage paid off we love challenges so July 1st 2019 our challenge begins to see that you guys have done this gives us hope and and motivation to achieve this goal thank you again we have subscribe to your channel 🙌
Coming back to watch this again and again for motivation, currently paying just over triple mortgage payment with the goal to be mortgage free in 4 years, thanks for this guys and God bless 🙏❤️
I know this video is about 4 year old, but thanks for the inspiration and support. Working hard over here to slay the mortgage. We started late, frittered away a bunch of years NOT doing it, but we are hoping to have a 30 yr paid off in 20. Throwing every nickle can find at it while, while trying to balance other obligations, both current and future.
I just sat down and scrutinized my finances; and realized I can make an additional $300 per month 😂 thanks to you guys showing me, this is possible. I can also split my monthly payments into 2 payments per month 😂 you guys rock; god bless & let’s kick ass!!!!
You two are really blessing my marriage. Not only encouraging me to stay on track as a stay at home wife...couponing, bargain shopping and stretching our dollars to the max. But I have been playing your videos in the background as my husband studies. He is slowly but surely having a change in his thinking...excited about paying off debt. We are hoping to purchase another home soon and I have been stressed about taking out a 30 year mortgage and right on time you post this video. Love you guys keep them coming.
Bougie Cheapskate Thank you so much for sharing this with us. We are happy to see that you both are getting on the same page in regards to handling your debt! Every penny counts. Thanks for watching.
This is the first video i came acrossed. My credit card debt is all caught up and now my mortgage is next. This video inspired me to get pumped up to get started on this HUGE debt of mine. Its not a good number to look at. Credit card debt seemed easier because it is a much smaller number which appears to be more doable to reach. After thinkin about all this credit i built up and paid off I dont know how many times.... I thought to myself...all that time it could of been my mortgage. Now its looking forward and doing just as you suggested. I have already been applying $100 extra since i started my loan...now i can add more now that my other debt is gone. I see a tiny light glowing at the end of my tunnel....Here I go!
I wish I could get my partner on board. He wants to clear mortgage and debt but not the Dave Ramsey way. We are from the UK and my partner says Dave Ramsey plan applies to America. Noooooo way is this true. Some things are a little different but we could totally do it. lovely to see a couple video. Xx
The only thing about biweekly that concerns me is the months that 3 payments come out. Where does that money come from? Or should I wait until we have more saved before trying this. We live paycheck to paycheck but want desperately to change this. We already paid off one car and are working on the other. We quit eating out, we paid off all cards etc. This mortgage is next, but I have concerns about where the extra will come from.
terri e there have been times I called the mortgage company and held that extra payment cause I needed the money, but once I cleared my debt, I haven’t called and I don’t even notice the money being gone.
I just paid over 11k towards a 13k credit card debt in less than a month. I am so happy that we are so close to being debt free. I am looking for little ways to boost the amount I can pay each paycheck towards the debt. Cant wait until I can start saving with the same intensity we're paying our credit card.
Just found your channel and subscribed. My husband and I just bought a house (our only debt) earlier this year, cash flowed a surgery and having our baby, and chose to go to a one income household for me to stay home with our girl. Our goal is to pay extra towards our principal when I go back to work and pay off our mortgage early. I never thought about how just an extra $100 a month could impact it!
Happy New Year!! A few days ago I talked to my husband about monthly putting extra money towards the principle on our mortgage. God put your video in front of me. Confirmation!! Thank you for unselfishly sharing your experience. We will follow your model. Be blessed!
great video! I was watching for some extra motivation. I have been on this track for a minute, started with cc debt, school loan, etc. But only thing left now is mortgage. What I did was the snowball method. So now that all the other debt is gone, I take what I was paying and make at least a 1K payment on principal monthly. Thanks to COVID and side hustle, (giving vaccine) I paid off 17,000 car balance in 3 months! It is definitely a mindset change!! I hope to complete mortgage this year/early next year. Thank you, Jesus!
You guys are a great team, I can watch this video a thousand times because that's where we're at at the moment, with this corona virus I haven't have an income coming in but grateful for my husband who is still is, we are a family of 4, our 6 months emergency fund is still left untouched and looking forward to be back to work next week so that we can get our mortgage paid off asap oh at the moment our mortgage payment is almost doubled and there is no way we're going to put it down because of corona, we are comfortable because of being debt free and still living on a budget and still managed to save some money on a one income, thanks again guys, Lord bless you always ❤️🙏
If you don't want to share this information I completely understand :) was wondering if you would feel comfortable telling us how much of a mortgage you guys have/had? Would help put the extra you are throwing at it in perspective :) thanks!! Xoxo
You guys are amazing!! My husband and I are in the process of paying off our mortgage early and your tips on maintaining a bank account completely dedicated to real estate stuff totally makes sense. Do you also use a finance management app to figure out your spending pattern to decide a monthly amount or is it a constant amount?
I have been following Dave Ramsey for 2 year and I was searching for new ideas to pay off my home faster. I am doing the extra principal payment method but I will look into bi weekly payments. Thanks!
Yes! Every dollar counts! Not only does it chisel away at the principal, it also increases the portion of your regular payment that goes toward principal by reducing your intrest. It's a double whamy at that principal!
Another AWESOME video!!! Amazing what a few dollars can do!!! Congrats on knocking out your house payment from 30 years to 16 years!!! That's a HUGE accomplishment!!! Thanks for sharing!!! 👍
Another important thing about automatic payments is what that does to your credit score as well. As long as you're paying on time, you're going to be improving your credit score through timely payments and a reduction in overall debt.
I came over from Lydia Senn, and I have to say you two are "money sages." Now I've got to watch all your older videos. Loving your advice from Texas, Gaye Furlow
I am so glad to have found your channel today. My husband and I are looking forward to applying this principle and get closer to financial freedom. Thanks for sharing the info.
just found your video and I'm excited. recently retired from the military, my husband still in and we are newlyweds and only had our home for a year. this is so encouraging and u want to speak with my hubby. found your site because I was looking for tips for my garage sale this weekend
Thanks! Our mortgage just got bought AGAIN by another institution. But, the good news is that with the new one, it let me set this up easily through the app!! We're doing this! Biweekly plus an extra $334.
You guys are SO inspiring! My husband and I just got married and juggling/combining finances is so complicated! Before we got married my husband had just bought this house and now we are trying hard to pay it down as well as my student debt... this is an awesome channel! We make a habit of throwing an extra $25 towards our mortgage whenever we can and it TOTALLY makes a difference! Our payments have gone down by a dollar but we are putting in the same amount so it just keeps improving! bit by bit is still progress :)
Love it!! My husband and I took 14 years off our 30 yr mrtg and saved $40,000. I know a lot of people pay off their smallest debt first then use the money to pay off next smallest debt and so on. However, our mrtg was our had the highest interest rate of all our debt, so we starting paying off that first as it worked out better mathmatically. Our mrtg was 6.7% and our cars were only 4% so we figured out since our mrtg was a bigger monthly interest rate that it would be smarter to pay off that one first. Then once the cars were paid off we added that payment to the mrtg too!!!
I think that this is a great strategy if your goal is to eliminate debt. I think that being debt free is a blessing, and it is a great goal to work towards. However, being debt free isn't the only thing that matters. If you can earn more interest by investing your money vs. the amount it costs to keep a mortgage, then an argument can be made that it's worthwhile to keep your mortgage. Oversimplified Example: if your investments are earning 10% interest/year and your mortgage costs you 5% interest/year => if you invest $200, then you will earn $20 at the end of the year => if you pay down your mortgage by $200, you will save $10 in interest charges So... if you invest the money, you can earn $20, use $10 to pay the interest charge on your mortgage, and you have an extra $10 left over
I agree with you and many experts do as well. The problem with investing is that you are taking a risk. There is the possibility of making 0% interest and you may even lose the money. A paid off mortgage is a guaranteed return on investment. It's also a great feeling to know your home can never be taken away. No matter what happens with a job you have a home to go to. If you lose your job, you can rent out a room and pay for the taxes and insurance. With all that being said, I am a teacher in nyc. We have a fixed rate of 7% for our retirement accounts I priorities investing in my 403b first, second I fund my IRA and leftover I sent to my mortgage.
Hello, First I would like to say I almost couldn't breath when you guys stated that you had a 30-year mortgage that is now a 16-year mortgage. Can you PLEASE tell me how I can turn my car payment from 5 years to 0 years. That is the largest bill I have right now.
I did by weekly payments and a extra 100 to principal monthly. That was my 1st house paid off in 18 years. I love you guys. I'm into stocks and putting 15% into 401b now. I need to get back on my hustle.
Hi guys love the enthusiasm. We have had our mortgage for 6 months, my partner just changed jobs and we are adding an extra $100 a month to our payment (off the principal I checked). Hoping to go up at least $100 every 6 months. We currently pay more in daycare than mortgage so once the kids are in school look out mortgage! Our payment could go up $1200 a month. Amanda and Michele from New Zealand
First of all, you guys are adorable! I just recently discovered your channel & I've really been enjoying your videos! You have so many great tips! Thanks so much for sharing your wisdom and your own experiences! :)
That's great bit the PILL Method teaches the bank holds your biweekly payment due to the fact they only process a full payment. Look into Don Daniel's PILL Method it accelerates the payoff also.
Just a quick suggestion if no one has said this, consider being financially free instead of debt free because you don't want debt don't even use the word. Great job on becoming financially free!
Wow! You guys are amazing. I subscribed and I sent my daughter to subscribe.. it's so funny and I just had this conversation with her about paying her mortgage payment bi-weekly and throwing something extra. She's 32 with three children and a single parent. No excuse she can do this. Once again thank you thank you thank you
I started paying extra on my condo mortgage when it was at 105k. Now I dropped it down to 85k. I was paying a extra 2k a month towards the principal payment. This year I'm gonna do a extra 3k a month towards the principal and my goal is to have my place under 50k at the end of the year.
I have been done with my mortgage for 13 months. I have to tell everyone that a paid off home is a great feeling!!!. I'm able to save sooooooooo much! I am 27 been debt free since October 2015 at 26 (one month shy of my goal at 25). the grass feels different and the house is actually YOURS!! none of my friends even have a house and I'm here with a paid off home, 401k, Roth ira, and looking for a vacation home. and done making just under 40k. (I make 48k now though). just sharing to give someone encouragement!!!
That is awesome!!! Congratulations!!! We would love for you to share your story with our audience on our podcast and video if you are ever interested. Email us at info(at)hisandhermoney.com and we will get back with you shortly. Keep up the great work!
thecreoleson AWESOME! my son is working towards that as well. please share your story with Tai and Tallat.
i have a 40000 house.
can i cut that in half/
WOW
Happy for you, brother.
That's exactly what we did, we are 26&29 and paid off an over 210,000$ ,mortgage in 6 years! God is good
+S&J Reinke Awesome! Yes HE is!!!
S&J Reinke maybe I can do the same on my mortgage. I have 18% + 6% match going to 401k and might drop it a bit to send to mortgage.
How did you do it we have a mortgage left on a 30yr term and we have been in it for 4 yrs our total balance left is 208k and our monthly payment is 1669.21 how can we pay this down quickly in the next 6 years
That's amazing
@@HisandHerMoney I started paying extra on my condo mortgage when it was at 105k. Now I dropped it down to 85k. I was paying a extra 2k a month towards the principal payment. This year I'm gonna do a extra 3k a month towards the principal and my goal is to have my place under 50k at the end of the year.
That's gat! We had a 7 year $26000 mortgage and we added just $50 over the payment and got it paid off in just over 4 years. What a relief. We felt so proud.
What was your payment on your mortgage if you don't mind me asking?
Is that 26k house?! Damn here in UK you need like 26k pounds for a deposit for a 300k house which isn't even that big.
$26000 mortgage? Omg. Average houses are $800,000 to over a million here lol.
You bought a Shack? Lol
Don't be such a hater
My husband and I did this and paid off our 30 year loan in 13 years. There is NOTHING better than paying off your mortgage and not having that payment especially when your kids are ready for college. Retirement comes faster than people think and it is sure a lot easier without a mortgage payment.
+Nancy Herkes wow! Can't wait to pay mine off.
Nancy Herkes . how did you guys do it?
Jorge Inti Hi Jorge, we put an extra 100.00 on the payment and more than that when we could. it knocked the principal down faster so we were able to pay it off much sooner. The interest rates weren't as low as they are now. if I were paying it down today I would get the lowest rate and shortest term I could, then add money to the payment to knock out the mortgage.
Nancy Herkes hello if my mortgage remaining balance is $208,129.54 and my monthly note is $1669.21 about how much extra do you suggest I put towards it each year in order to get it done in about 10yrs also I will be switching to biweekly payments as well
@@awiseguywhousedtobeafool9166 I have a mortgage. You do not have to pay bi biweekly. I have the bank automatically take 3 times my mortgage every month once a month, Same principle at the end of the day.
Excellent video. Thank you.
Our mortgage was 20 years originally. I sold my 2 year old Jeep and bought 2 older vehicle with cash. The former loan payment is paid onto the mortgage every 2 weeks. The bank tried to deter us from making extra payments as there is a 3 month interest penalty on payments over 15% of the original amount. I told the bank person that 3 months interest sure beat 10+ years worth.
We also no longer eat out. That money is also put on the mortgage. It has also resulted in us losing weight. I am no longer a type 2 diabetic and save over $300 a month on meds and supplies.
We have been in this house almost 4 years and have 39 more months left on the mortgage.
I cringe at how much interest would be paid on a 30 year one.
Dean O'shea AWESOME!
Great inspiration! Congrats!
Sounds like good blessings are coming your way!
I am mortage loan officer for 11 years and love this method. Paid of my home a few years ago this way.
travellady68 Woohoo!!!! Congrats. That is awesome. We love hearing that. Thanks so much for watching.
Did my 1st $25 to my principle payment. Already looking to throw more to it. Thank you for sharing your story. God is good🙌
Loved your advice. Im a registered nurse and I work 36 hours a week to earn extra money. I try to pick up one extra shift per week giving me 48/week. I also will work other nurses holidays so I can make time in a half. My car payment will be paid off by the end of this year instead of 2019. God is good!!!!
Maxine Sealey Awesome! It's all about gazelle intensity. It's #HustleSeason!!!
Maxine Sealey Follow Dave Ramsey, today I'm debt free no credit card no car loan no student loan.
Did u use the same method to pay off car?
I started doing side jobs, especially in nice weather. Don't EVER let someone tell you they're on a fixed income, if you are not ederly or disabled...there are ways to make extra money. I detail cars and clean windows. There have been many a weekend that I brought in an extra $500-$1000
+brianallen0826 Awesome!
Even elderly or disabled can make money online!!! No such thing as "fixed Income" to me!!!
I have grown to love your channel thank to Dave Ramsey & RUclips!! I am rethinking my whole attitude about money and debt!! I don't have no major debt, but i believe that a "refresher' course never hurts anyone!!! Always be open to new ideas I say!!
I don't have a mortgage payment, I've inherited my grandparents home that is paid for but i think i will apply some of these tips to paying off my car and eventually my student loan debt
Shannon Elle That is great! Keep up the great work. Thanks for watching.
lemmieatit You must be fun at parties.
You forgot to mention the $$ you save by paying off mrtg earlier, not only will you pay it off earlier but it saves a tons of money obviously. I use bankrate mrtg calculator to figure how much you save, you can see how much interest you save with the amortization calculator. For example if you get a 100,000, 30 year loan @ 4.5% you will pay $82,000 in interest after 30 years. If you pay it off and extra $200 a month you save $42,000 in interest and pay it off in 17 years instead of 30. You save $40,000!!!!!!!!!!!!
Myeverydaywifelife Yes you definitely save tons of money! Thanks so much for sharing and watching.
When I revised my budget last month, I made a few cuts that amounted to exactly $130. Such an odd coincidence. Haha. Thanks for all the tips!
I have become obsessed with all of your videos. Its so nice to see a positive couple working together and having something intelligent to say lol gives me hope. Thank you for all the advice.
+Laura Tarsi Thank you so much Laura!
true. it's great to see a couple working so well together.
When he said, "give me two per" I would have liked to died. Lol. Hilarious!
#dead LOL!!!!
Murphy lee voice.lol
Had me rollin!!!
Sounded stupid when he said it
5 months left to go in our debt free journey..AUGUST 2016!!!
Our mortgage company charges a hefty fee for the bi-monthly payment so what we do is a principal reduction payment each month 2 weeks after our regular mortgage payment. Just like you guys we're now down to a 15yr mortgage (from a 30yr) after 7 years of doing this! Gotta love that!! :)
Momma Allie That is awesome! Keep up the great work guys. Thanks for watching.
+Momma Allie Bi weekly plans. They do work!
BUT!,
As they said in the video, It can be done on your own!
First, How do they make money? They have a set-up fee that is a large
part of your first "extra" bi-weekly payment and then a per-debit charge
at about $1 to $3 per debit. All of which could be going toward your
principle! And, they don't put money toward principle every two weeks!
They make your regular monthly payments for you and then after they have
accrued a set amount, they make a Principle Only payment on your
behalf. So, They earn interest on your money until they see fit to make a
payment for you!
How to do it on your own?
A lot of financial institutions are getting in on the bi-weekly game and
most have some sort of set-up fee and/or per-debit charge. But you can
avoid it all.
First, Set up a Savings account at the same bank into which you have your
paycheck direct deposited.
Next do some basic math.
26 half payments = 13 months worth or 1 extra payment. Now figure how
much extra you are willing to pay every two weeks. Every little bit
makes a huge difference! Try $75. Think about your paycheck to paycheck,
and ask, "Can I afford $75 per check?" Just find an amount you can live
with and I'll show you in a moment how much control you have so you can
adjust easily!
Now, take half your mortgage, round it up to nice neat number, add $75.
This will be the amount you have Auto transferred to your savings
account the same day as your direct deposit. ( I also add half my car
payment also rounded to a nice neat number! )
Multiply the agreed upon bi-weekly number by 26, then divide by 12, and
subtract your regular mortgage payment.
This will give you your regular "Principle-Only" payment.
Finally, Go to your mortgage servicer's site and set up an auto-pay that
will include the regular monthly mortgage payment and the "Principle-Only" amount.
Done!
The real beauty is the automation and control. When you get your pay
stub, simply "mentally subtract" that amount and this is what you have
left to take care of everything else! And, If the "wheels fall off" of
your life, Simply go and adjust the amount paid to "principle only until
you get back on your feet.
Still, There is something to be said about having a "Rainy Day" fund
saved up first. If there is a loss of income, The bank could see equity
as profit in a foreclosure situation! Also, a balance should be made
with investing and paying off the mortgage! If you can have a true gain
on investments over time, greater than the interest paid to the bank on
your mortgage, then that strategy should be utilized as well!
I’ve just started listening to you. I’m liking what I’ve heard thus far. I payed off my 30 year mortgage in 10 years, three years ago. I took on an extra job for two of those years. I’ve applied all of my tax refunds towards it too. I kind of went wild and started traveling each month after paying my mortgage off. I’m finding it hard to discipline myself and save money now.
I'm 27 and I've had my first apartment for a year now. you've just inspired me to make a big move like this on Monday
Olivia-Joan Iiyambo whats your update?
Just discovered your channel - new sub. I get keys in 3 weeks to my new condo.(Feb 2020). Decided to practice the art of DELAYED GRATIFICATION .. and hold back a little on my remodel. ..and take out a 35k mortgage vs. 45k .. simply because I don't want to pay a years worth of nothing but interest. Should have it paid within 3 years .. maybe less. LOVE your channel - and you're so easy to listen to. CONGRATS on paying your mortgage off - inspires me. I put down approx. 70 percent t thanks to late parents. I made sure not to waste the funds on a vehicle or short lived trip. So glad I did it this way. Your channel motivates me further.
Hi Guys, instead of doing bi weekly payments, I do an extra principal "mortgage" payment in December every year (the same amount as a regular payment but directly to principals. ) I also do $200 monthly principal payments. After listening to you today, what I'll do now after watching this, is add another small amount to principal about $20 in between the other principal &mortgage payments to interrupt the interest. Goal is to complete the 30 year mortgage in the next 5 years.
I pay $170 per month and it may seem like its not going to do anything but it does, it really makes an impact!
you idea makes good sense. My parent bought a house and one of my sisters bought a house many years after 12 to 15 years. She made on extra payment per year and ended up finishing paying her mortgage at about the same time. so all this stuff is true. Congrats to both of you.
thank you guys.. we just bought a house havn't even made our first payment yet so this is what wer goin to do!
We haven’t even brought our first house yet and I’m already excited!!! Love your videos
I'm so glad I found your video. I would have thought $20 would be to insignificant but now I believe otherwise! I feel very empowered! I will keep you posted on my success.
Y'all are SO inspiring! How did I miss your channel for so long! Bless you!
+Michelle Scott Thanks so much for joining us!
etfftf
Thanks for the inspiration, I can't believe all the time i have been on RUclips looking up nonsense I could have been watching you guys, yall' got me motivated for the #hustleseason
+Danielle Nicole Awesome!!!! Thanks so much for joining us.
Girl me too..
I'm from Illinois I totally understand give me two pair!!!! i just wanna say thank you....i listen to you all every morning!! it keeps me focused thank God for yall
Yall just don't know how much these videos help me out. It really hit me what your hubby said about getting a raise & thinking oh look at all the new things I can buy now. That's so me! Smh I've been debating on buying new furniture just bc me & my hubby are making more money. When I can be paying towards debt.
Kia We are happy to see you have a change of heart. It is important to get out of debt as quickly as you can. Live like no one else, so that one day you can live like no one else! Thanks so much for watching!
We pay an extra 50 a month and an extra 1300 at the end or beginning of the year which is the equivalent of 1 extra house payment to be applied to the principal.
Hello, I loved the video! The part where you mentioned bi-weekly payments was really good. I used to do that to, but since 2010, I do weekly payments. Because you're doing smaller payments more frequently, you hit the interest every week. It doesn't have the chance to build up as much. I served in the Canadian military for 21 years, and I get a pension, so I was thinking maybe I could put at least half of that into the mortgage each month. That alone would be $1000 per month. That would probably hammer the mortgage down a little quicker. Cheers, Rob
Great video guys. I have a 30 year mortgage of $283,000. I am planning of attacking this debt by puting $1000 torda the principle. I want to be debt free and not leave this debt to my two daughters
We're cheering you on!
I really like your channel. It is so nice to find a "couple" that speaks to everyone - not just couples...I am single - you speak to me as well. Some other channels - it is only about "couple stuff" - thanks for the inclusive message!
Yes
Same here, your both great people! All the best to you both
Great video, I'm pretty much a stay at home wife. my husband pays the bills, I have a hustle job (delivery service ) that I do when I want. but I've always been about paying bills off early. And that's what I do with my hustle $$. Hubby says, well the bills are paid, why do you use the hustle $$ for that. The sooner the better. I loved how you guys broke it down though. We are in the process of looking to buy another home, and I know where my hustle money will be going. he will thank me in 17 yrs.
I paid off a 6 year car note in 18 mos. After the first month, I realized I was paying $60 interest!! I worked all kinds of overtime and slammed that note with payments. Now I'm slamming extra on my mortgage. I'm 3.5 years into a 15 yr mortgage, but expect to have it paid in 3-4 years. Just in time to retire 😁.
We're proud of you, keep up the great work!
@@HisandHerMoney thank you!! thank you!!😁💕
How inspiring!!!🎉😊
The eye opener is the Interest - you give to them to borrow their money.
I watched this when it first came out and now again that I am a homeowner. Super excited to put this practice to work😊
You guys are awesome!! My husband and I are on this path. Thank you for the advice and encouragement 💜💜💜
You got this!
You guys are wonderful, provide great info, and are easy to listen to!!! I enjoy listen to you both because your personalities shine through and I never find your videos boring.
Such a beautiful couple! God Bless you both and thank you so much for the great videos!!!
Amanda Ellis Awwww thank you so much!
allocate even twenty extra dollars as if it was a bill - yes! a great bit of advice.
+Beth Sanchez Yoga Yes, everything helps! Thanks so much for watching.
I just wanted to say I love your videos I have like binged watch a ton lately I just found your total. I'm 21 and my husband and me are debt free except our mortgage and I just love watching all your budgeting videos because that is one aspect of my life I'm crazy about :)
+Jordan King Awesome! Great job you two. Keep up the great work.
Thanks for your positive vibes! We are now paying extra towards our mortgage and we're also planning to pay twice per month
Very, very proud of both of ya'll. Thank you for encouraging us.❤
Yes. People forget how small amounts add up quickly. $25 at Dollar Tree blows some people's minds because each item is $1 or less so people get surprised. I'm a 22 year old low income college student. I have to live on my own and I'm teaching myself about the financial literacy no one taught me growing up. Just cutting out getting my nails groomed from every month to special occasions, I was able to save that $40x7 months which is $280 a year. I'm putting that toward my student loan principal and saving for a reliable car. I'm going to save a lot of money avoiding extra interest by paying my loans down sooner. Time is money in that way as well, debt appreciates and the longer it takes you to pay a loan, the more you pay in the long run.
I’m watching this video again after knowing that you guys have paid off your house in 5 years. We are under contract for a house and just spoke with the loan officer. I’m so excited to implement this plan to knock off this mortgage. After paying off debts for the past years, this will be the biggest challenge yet and I’m ready for it. I’m excited to reach this goal. We are going to take the online class you have tonight too!! God bless you for your teachings.
Note: if you paid the extra payment before your monthly payment will make huge difference. Because the interest rate accumulate by the amount that left.
just subscribed.....you guys should make money as motivational speakers....yall could put that bankroll toward the mortgage....don't know yall bit yall are awesome
30 to 16 years, in just 2 years?! WOW! You already had my attention but that’s outstanding!
I wanted to take sum time out to say 1st thank you thank for for your channel. Myself and husband waited 13yrs to become homeowners we just closed on our brand new home which is 230000$ we were able to put 75,000$ down at closing we did this so we wouldn't owe so much on our home and also our mortgage would be low and comfortable for us to enjoy now that we have finally moved into our brand new home and made our very 1st mortgage payment myself and husband or accepting your challenge to pay off our 155000$ dollar mortgage early we have made a budget we have already started adding more to our principal and we set a time frame to have our mortgage paid off we love challenges so July 1st 2019 our challenge begins to see that you guys have done this gives us hope and and motivation to achieve this goal thank you again we have subscribe to your channel 🙌
Coming back to watch this again and again for motivation, currently paying just over triple mortgage payment with the goal to be mortgage free in 4 years, thanks for this guys and God bless 🙏❤️
Fantastic!
I know this video is about 4 year old, but thanks for the inspiration and support. Working hard over here to slay the mortgage. We started late, frittered away a bunch of years NOT doing it, but we are hoping to have a 30 yr paid off in 20. Throwing every nickle can find at it while, while trying to balance other obligations, both current and future.
I just sat down and scrutinized my finances; and realized I can make an additional $300 per month 😂 thanks to you guys showing me, this is possible. I can also split my monthly payments into 2 payments per month 😂 you guys rock; god bless & let’s kick ass!!!!
I sat down for hours watching your on RUclips. Can't get tired watching you .
+Ora Kennedy Thank you!
You two are really blessing my marriage. Not only encouraging me to stay on track as a stay at home wife...couponing, bargain shopping and stretching our dollars to the max. But I have been playing your videos in the background as my husband studies. He is slowly but surely having a change in his thinking...excited about paying off debt. We are hoping to purchase another home soon and I have been stressed about taking out a 30 year mortgage and right on time you post this video. Love you guys keep them coming.
Bougie Cheapskate Thank you so much for sharing this with us. We are happy to see that you both are getting on the same page in regards to handling your debt! Every penny counts. Thanks for watching.
Love the concept of a dedicated out-of-sight mortgage account coupled with automatic payments. Thank you!
This is the first video i came acrossed. My credit card debt is all caught up and now my mortgage is next. This video inspired me to get pumped up to get started on this HUGE debt of mine. Its not a good number to look at. Credit card debt seemed easier because it is a much smaller number which appears to be more doable to reach. After thinkin about all this credit i built up and paid off I dont know how many times.... I thought to myself...all that time it could of been my mortgage. Now its looking forward and doing just as you suggested. I have already been applying $100 extra since i started my loan...now i can add more now that my other debt is gone. I see a tiny light glowing at the end of my tunnel....Here I go!
I wish I could get my partner on board. He wants to clear mortgage and debt but not the Dave Ramsey way. We are from the UK and my partner says Dave Ramsey plan applies to America. Noooooo way is this true. Some things are a little different but we could totally do it. lovely to see a couple video. Xx
The only thing about biweekly that concerns me is the months that 3 payments come out. Where does that money come from? Or should I wait until we have more saved before trying this. We live paycheck to paycheck but want desperately to change this. We already paid off one car and are working on the other. We quit eating out, we paid off all cards etc. This mortgage is next, but I have concerns about where the extra will come from.
terri e there have been times I called the mortgage company and held that extra payment cause I needed the money, but once I cleared my debt, I haven’t called and I don’t even notice the money being gone.
I paid off a $40,000 car in 9 months using your same method. Now I have a mortgage, I'm going to do the same thing. :)
Congratulations, keep up the great work!
I just paid over 11k towards a 13k credit card debt in less than a month. I am so happy that we are so close to being debt free. I am looking for little ways to boost the amount I can pay each paycheck towards the debt. Cant wait until I can start saving with the same intensity we're paying our credit card.
Just found your channel and subscribed. My husband and I just bought a house (our only debt) earlier this year, cash flowed a surgery and having our baby, and chose to go to a one income household for me to stay home with our girl. Our goal is to pay extra towards our principal when I go back to work and pay off our mortgage early. I never thought about how just an extra $100 a month could impact it!
Happy New Year!! A few days ago I talked to my husband about monthly putting extra money towards the principle on our mortgage. God put your video in front of me. Confirmation!! Thank you for unselfishly sharing your experience. We will follow your model. Be blessed!
great video! I was watching for some extra motivation. I have been on this track for a minute, started with cc debt, school loan, etc. But only thing left now is mortgage. What I did was the snowball method. So now that all the other debt is gone, I take what I was paying and make at least a 1K payment on principal monthly. Thanks to COVID and side hustle, (giving vaccine) I paid off 17,000 car balance in 3 months! It is definitely a mindset change!! I hope to complete mortgage this year/early next year. Thank you, Jesus!
Another good strategy is rounding up your payment. It’s usually $50-$60 and can knock 5-7 years, as well as making it easier to budget.
You guys are a great team, I can watch this video a thousand times because that's where we're at at the moment, with this corona virus I haven't have an income coming in but grateful for my husband who is still is, we are a family of 4, our 6 months emergency fund is still left untouched and looking forward to be back to work next week so that we can get our mortgage paid off asap oh at the moment our mortgage payment is almost doubled and there is no way we're going to put it down because of corona, we are comfortable because of being debt free and still living on a budget and still managed to save some money on a one income, thanks again guys, Lord bless you always ❤️🙏
If you don't want to share this information I completely understand :) was wondering if you would feel comfortable telling us how much of a mortgage you guys have/had? Would help put the extra you are throwing at it in perspective :) thanks!! Xoxo
I had my man watch this with me, now he loves you guys too. Keep up the good work!
Moms Simple Life Yay!!! Tell him welcome to the club...lol. Thanks so much for watching.
You guys are amazing!! My husband and I are in the process of paying off our mortgage early and your tips on maintaining a bank account completely dedicated to real estate stuff totally makes sense. Do you also use a finance management app to figure out your spending pattern to decide a monthly amount or is it a constant amount?
I have been following Dave Ramsey for 2 year and I was searching for new ideas to pay off my home faster. I am doing the extra principal payment method but I will look into bi weekly payments. Thanks!
Yes! Every dollar counts! Not only does it chisel away at the principal, it also increases the portion of your regular payment that goes toward principal by reducing your intrest. It's a double whamy at that principal!
Another AWESOME video!!! Amazing what a few dollars can do!!! Congrats on knocking out your house payment from 30 years to 16 years!!! That's a HUGE accomplishment!!! Thanks for sharing!!! 👍
tammy mcclain That's what it is all about...just a few dollars can change everything! Thanks so much for watching.
Great information. More people need to know this. I'm in my 50s and it surprises me when friends take on mortgage payments in their 60s! Love this.
Paying via internet and pre-scheduling your payments makes this so easy to do. Just keep track of your balance of the account that's being drafted.
I just love you two. I'm out of credit card debt and now am working on the car loan. you inspire me. thanks so
Adrian Restivo Congrats! Continue to push forward. Thanks so much for watching.
it's so pleasant to hear u speak together...u r so respectful of each other
Another important thing about automatic payments is what that does to your credit score as well. As long as you're paying on time, you're going to be improving your credit score through timely payments and a reduction in overall debt.
I came over from Lydia Senn, and I have to say you two are "money sages."
Now I've got to watch all your older videos.
Loving your advice from Texas,
Gaye Furlow
We love Lydia, thanks so much for watching!
Wonderful! My husband and I are going to have to do this! Thanks for sharing!
MY LIFE FULL OF HOPE Yes!!! Thanks for watching.
I am so glad to have found your channel today. My husband and I are looking forward to applying this principle and get closer to financial freedom. Thanks for sharing the info.
just found your video and I'm excited. recently retired from the military, my husband still in and we are newlyweds and only had our home for a year. this is so encouraging and u want to speak with my hubby. found your site because I was looking for tips for my garage sale this weekend
+mrsawesome121212 Thank you so much for joining us!
Thanks! Our mortgage just got bought AGAIN by another institution. But, the good news is that with the new one, it let me set this up easily through the app!! We're doing this! Biweekly plus an extra $334.
Great job!
The two of you remind me of David Bach' 'The Automatic Millionaire'.
I’m going to start paying extra 130.00 on my 106.500 and pray I be out debt in less then 15 years .
You got this!
You guys are SO inspiring! My husband and I just got married and juggling/combining finances is so complicated! Before we got married my husband had just bought this house and now we are trying hard to pay it down as well as my student debt... this is an awesome channel! We make a habit of throwing an extra $25 towards our mortgage whenever we can and it TOTALLY makes a difference! Our payments have gone down by a dollar but we are putting in the same amount so it just keeps improving! bit by bit is still progress :)
Love it!! My husband and I took 14 years off our 30 yr mrtg and saved $40,000. I know a lot of people pay off their smallest debt first then use the money to pay off next smallest debt and so on. However, our mrtg was our had the highest interest rate of all our debt, so we starting paying off that first as it worked out better mathmatically. Our mrtg was 6.7% and our cars were only 4% so we figured out since our mrtg was a bigger monthly interest rate that it would be smarter to pay off that one first. Then once the cars were paid off we added that payment to the mrtg too!!!
Myeverydaywifelife Awesome! Whatever it takes to get out of debt...is a plus in our book. Thanks so much for sharing and watching.
I think that this is a great strategy if your goal is to eliminate debt. I think that being debt free is a blessing, and it is a great goal to work towards.
However, being debt free isn't the only thing that matters. If you can earn more interest by investing your money vs. the amount it costs to keep a mortgage, then an argument can be made that it's worthwhile to keep your mortgage.
Oversimplified Example: if your investments are earning 10% interest/year and your mortgage costs you 5% interest/year
=> if you invest $200, then you will earn $20 at the end of the year
=> if you pay down your mortgage by $200, you will save $10 in interest charges
So... if you invest the money, you can earn $20, use $10 to pay the interest charge on your mortgage, and you have an extra $10 left over
I agree with you and many experts do as well. The problem with investing is that you are taking a risk. There is the possibility of making 0% interest and you may even lose the money. A paid off mortgage is a guaranteed return on investment. It's also a great feeling to know your home can never be taken away. No matter what happens with a job you have a home to go to. If you lose your job, you can rent out a room and pay for the taxes and insurance. With all that being said, I am a teacher in nyc. We have a fixed rate of 7% for our retirement accounts I priorities investing in my 403b first, second I fund my IRA and leftover I sent to my mortgage.
Hello,
First I would like to say I almost couldn't breath when you guys stated that you had a 30-year mortgage that is now a 16-year mortgage. Can you PLEASE tell me how I can turn my car payment from 5 years to 0 years. That is the largest bill I have right now.
SUPER WISE!!! Blessings and Miracles
Beautiful Couple.... God has truely blessed you both... Thankyou for the inspiration and keep up the good work.
I did by weekly payments and a extra 100 to principal monthly. That was my 1st house paid off in 18 years. I love you guys. I'm into stocks and putting 15% into 401b now. I need to get back on my hustle.
Hi guys love the enthusiasm. We have had our mortgage for 6 months, my partner just changed jobs and we are adding an extra $100 a month to our payment (off the principal I checked). Hoping to go up at least $100 every 6 months. We currently pay more in daycare than mortgage so once the kids are in school look out mortgage! Our payment could go up $1200 a month. Amanda and Michele from New Zealand
First of all, you guys are adorable! I just recently discovered your channel & I've really been enjoying your videos! You have so many great tips! Thanks so much for sharing your wisdom and your own experiences! :)
Wondering if you have made an updated video about how your mortgage is going right now.
You guys mean business!
MsSassyMT Thanks so much!
That's great bit the PILL Method teaches the bank holds your biweekly payment due to the fact they only process a full payment. Look into Don Daniel's PILL Method it accelerates the payoff also.
I came across you guys and needless to say y'all are so inspiring and a beautiful couple. Now I have another positive Chanel to watch.
Agreed! They are *awesome*! :)
This is what I did for my car payment. Can't wait to have that paid off.
Just a quick suggestion if no one has said this, consider being financially free instead of debt free because you don't want debt don't even use the word. Great job on becoming financially free!
It sucks because our mortgage company don't let us pay more on our debt without applying fees 🙄 they only allow one time deposit of max 15% per year
Wow! You guys are amazing. I subscribed and I sent my daughter to subscribe.. it's so funny and I just had this conversation with her about paying her mortgage payment bi-weekly and throwing something extra. She's 32 with three children and a single parent. No excuse she can do this. Once again thank you thank you thank you
I started paying extra on my condo mortgage when it was at 105k. Now I dropped it down to 85k. I was paying a extra 2k a month towards the principal payment. This year I'm gonna do a extra 3k a month towards the principal and my goal is to have my place under 50k at the end of the year.