In a few weeks, we will make our first mortgage payment. Our mortgage is a fixed-rate 15 year mortgage. Obviously, I’m not a fan of debt – and I’m going to work very, very hard to pay our mortgage off early. Using a mortgage calculator I calculated the following the scenarios for paying the mortgage off early – 15 years…
Category: Debt Reduction
How A Silly Little Experiment Helped Me Get Out Of Debt
I once sent a credit card company $5 per day, every day, for a month. Seriously. The year was 2005 and I was in full on debt reduction mode. Pumped up by the comments left by my readers – and ready to be debt free – I spent most of my waking-hours thinking about ways to reduce my debt. Somehow,…
How To Eliminate Credit Card Debt
1. Create a list of your credit cards. Include account balances, interest rates, due dates, and minimum monthly payments. 2. Make minimum payments to all credit cards, on time. 3. Make an additional payment to one of the cards on your list. If you make an extra payment to the account with the smallest balance, you can quickly eliminate an…