Tag: cut expenses

7 Important Reasons to Pay Off Your Mortgage

For the most part, the classic American dream includes home ownership.  A comfortable job, a vacation once a year, and a place to call home.  What’s funny is that the vast majority of us are relying on 30-year mortgages to “own” our homes.  So, in some sense, we really aren’t owning them – we just feel like we are.  And it’s so commonplace to have a mortgage that nobody really second-guesses it.

To be fair, there are some benefits of having a mortgage.  But does that really mean that it’s a good idea for everyone? Should it be the norm?  I’m not convinced.  Here are some of the biggest reasons I think it’s a good idea to pay off your mortgage (and why we’re doing it):

Related post: How to Pay Off the Mortgage Early
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8 Different Ways to Cut $100 in Expenses Every Month

One of the best ways to build wealth quickly is to find big ways to save every single month. Check out this list to see if any would be easy for you!

Recently, I wrote about the plan my husband and I have to pay off our mortgage in the next 10 years.  Hearing all of your comments and ideas got me sooooo excited that I started thinking about how we could get it paid off in 5 years instead of 10.  So we started talking about all the different ways we could convert some of our expenses into making larger principal payments – easy ways that would at least cut $100 in expenses each month.

Well, we came up with some pretty exciting ideas! Here’s what we’ve got:


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