[USER]

I make around 120k a year (one income home) fill up a 401k and IRA. We are a 1 income home and owe approximately 140k left on the mortgage (300k home).

The only other “payment” we have is a small vehicle payment, other than that just normal bills/utilities.I was possibly thinking about a “side gig” to help put more money towards paying it down.

Would anyone happen to have any good recommendations on what I could do in my free time that I could do from my computer/ phone to make a decent amount?

I know it’s a long shot but it never hurts to ask!

Thanks!

[Jeanette]

1. If your bank allows it divide your monthly PI payment in 2 and pay that amount every two weeks. that way you are paying an extra payment every year. Pays house off about 5 years earlier on a 30 year mortgage.

2. If your bank doesn’t allow this or if you have more money then make a “principal only” payment. This reduces your mortgage amount rather then advancing your payment due date.

Best to you!

[Elizabeth]

With that low of an interest rate, you may want to invest the extra you’ve been paying on the mortgage. Paying on a low interest rate debt is a psychological win, but not necessarily financial.

Do you know AutoCAD? A few years ago we hired someone to map out our home for a renovation project.

[Author]

Posts