When making our monthly mortgage payment, I always round up. I use a zero-based budget to manage our household finances. When calculating the allocation for the mortgage payment category – I round up to the nearest 100’s place. I do this, because I like easy-to-do math. This works in our situation, because our payment ends with 60.12. So, rounding up…
Category: Debt Reduction
Focus On The Loan Principal
A few basic terms – loan principal, interest, and interest rate. The loan principal is the amount of money a borrower receives from a lender. Interest is the fee that the borrower pays to the lender, for the right to borrow the loan principal. The interest rate is the rate at which interest is paid to the lender. The interest…
10 Debt Reduction Quick Tips
Are you working hard to get out of consumer debt? Awesome! Check out these 10 Quick Tips – ways to decrease spending, increase savings, and speed up your debt reduction – Early and Often After making regular monthly payments on all accounts, make extra principal-only payments as soon – and as often – as you can. This will help to…