| Many people agree that paying 30 years on a house | | | | work. You can save on groceries by using coupons |
| is too long. They want to pay their house off, but aren't | | | | and saving as much as 10% each month. You can |
| sure of the best way. In this article, I will talk one of the | | | | save as much as 33% on your insurance by raising |
| best ways to pay your mortgage off - the focused | | | | your deductible. |
| payoff method. | | | | Are you getting a large tax refund each year? Then |
| The focused payoff method is a system that I have | | | | talk to your payroll department at work and ask them |
| personally to get out of debt. It involves 3 steps for | | | | how you could have less money taken out of your |
| success. | | | | check for taxes. This is money that you could use |
| First, you need to stop charging up more debt and | | | | towards paying off mortgage debt instead of giving it |
| start living on cash. When I talk about living on cash, I | | | | to the government each month. |
| mean that you must not use credit cards anymore. | | | | Third, list all of your debts from smallest to largest. |
| Using debt cards are fine as long as you deduct that | | | | Start listing debts with the lowest balance first. For |
| amount from your checking account. Quite frankly, it | | | | most people, it's their credit cards, then car payments, |
| you can't afford to pay it with cash, then you probably | | | | and finally their mortgage. Focus your extra money on |
| can't afford it. | | | | the first debt. So if your lowest balance debt is a credit |
| Second, find some extra money in your monthly | | | | card, then pay on that first, Once its paid for, then go |
| expenses to help pay down on debt. Look for areas | | | | on to the second debt. After it's paid for, go on to the |
| where you can cut back or save money and start | | | | third debt. Keep this process up for all of your debts. |
| applying it to debt payoff. Some common areas | | | | By using this system, you can pay off all of your debts, |
| including watching cash expenses, saving on groceries | | | | including your mortgage, in about 5 to 10 years. |
| and insurance, and adjusting your tax withholding at | | | | |