Many people dream of paying off their mortgage early but don’t know where to start. Some assume that they need to be rich, while others think that they can’t afford to make overpayments. What people don’t realise is that it’s the small changes that make the biggest difference over time. You don’t need to be rich, you just need to be savvy. In this post I’ll share tips from my own journey to mortgage-freedom to give you some ideas for how you can begin to pay your mortgage off early.
Last August I made the final overpayment on my mortgage and became mortgage free. It felt amazing and brought with it the peace of mind that my home was now my own and no longer owned by the bank. I’d always envisioned having a big party once I paid it off, but now that I’d hit the milestone I decided against it. Many of my friends were heavily in debt and I didn’t want it to feel like I was gloating or ‘rubbing their noses in it’. So instead, I had a celebratory drink and takeaway with my nearest and dearest and that was that.
Personal fitness is a billion dollar industry and with new workouts and equipment hitting the market every day the choice can feel overwhelming. Getting fit doesn’t have to be complicated or expensive. There are simple ways that you can get fit for free by using the tools listed below.
Audiobooks and ebooks are growing increasingly popular. Even my Mum jumped on the bandwagon and embraced them before I did. She encouraged me to give them a go but they just seemed so expensive. So imagine my surprise when I discovered a simple way to access free audiobooks and ebooks.
Those of you who follow me on Twitter will know that I’m taking part in a ‘no spend day’ challenge until the end of the month. So I’ve been eeking out the remnants lurking in my food cupboards and making them last until the 1st of July. For those of you who haven’t tried it, I highly recommend it as a way to get your creative juices flowing, reduce waste and keep more pounds in your pocket.
It got me thinking back to the days when I was trying to pay off my mortgage. I’d tinker with my spreadsheet and see how a few extra pounds here and there affected my mortgage term. I was amazed at the difference even the smallest overpayment made and how saving £1 a day could cut years off your mortgage. It was then I realised the true power of every pound I saved…