SAVE THOUSANDS: HOW SMALL PAYMENTS CANCEL BIG MORTGAGE INTEREST | PILL METHOD EXPLAINED PART 1 скачать в хорошем качестве

SAVE THOUSANDS: HOW SMALL PAYMENTS CANCEL BIG MORTGAGE INTEREST | PILL METHOD EXPLAINED PART 1

Let’s break this down, folks. When it comes to mortgages, many people don’t realize how much interest they’re paying. Take a $200,000 mortgage at 6% for 30 years, for example. The monthly payment is $1,199, but over the life of the loan, the bank collects $231,676 in interest. That’s more than 115% of what you borrowed! In essence, you’re buying one house for yourself and one for the bank. Here’s the real issue: in the first payment, only $199 goes to the principal (the money you borrowed), while $1,000 goes to interest. That means your hard-earned money isn’t building equity—it’s feeding the bank. But you don’t have to settle for this. There’s a smarter way to manage your loan. The key is learning how to prepay your principal. Let’s say your February principal payment is $200. Did you know you can pay that $200 early—in January? By doing so, you skip the $999 in interest tied to February’s payment. Essentially, you’ve just erased a month’s worth of interest for only $200. What if you did this for multiple months? By paying off the principal for February, March, and April in advance, you could cancel nearly $3,000 in interest. This strategy works even if you don’t have large sums of money. For example, a $50 prepayment saves you $250 in interest, and even $3.13 can eliminate $18.75 in interest. Every little bit counts and works in your favor. Here’s the important lesson: the amount you borrowed isn’t the problem—it’s the cost of borrowing. Mortgages are structured to charge the most interest in the early years, slowing your progress. But by using small, strategic prepayments, you can turn the tables. Think of it this way: every penny, every dollar, can work harder for you. Skipping a $6 coffee and applying it to your mortgage could save you $37 in interest. This isn’t just about saving money—it’s about leveraging what you have to achieve financial freedom faster. Once you understand how to read an amortization schedule and apply these principles, you’ll see that even the smallest actions can make a huge difference. Get a FREE Savings & Earnings Report! https://bit.ly/3QqmPx5 Watch & Subscribe to the PILL Method Youtube Channel! https://bit.ly/4aRITIy #Dondaniel #PILLmethod #InterestCancellation #PayOfYourMortgage3to5years #PayOffStudentLoansFaster #ABetterWayToEliminateDebt #OptimizedBudgeting #InterestSavingsTips