Method 4: Pay Your Bills at the Last Safe Moment. 7 Ways To Pay Your House Off Fast

Hope you are enjoying this series about paying off your loan FAST!

From the previous three methods, you will have noticed a trend – keeping YOUR money sitting against your loan as long as possible in order to reduce the interest charges, and in turn, increase the principal amount paying down your mortgage.

Let’s take it one step further by paying your bills at the last safe moment. For example, if your telephone bill is due within four weeks of being issued, when are you going to pay it? The correct answer is the day before it’s due and no sooner. And you’ll pay it with your interest-free credit card.

This strategy allows you to get a month out of your telephone company and then a month out of your credit card company before you have to let go of your actual money. This allows your money to sit against your mortgage for an extra two months, in comparison to paying the bill straight away when it was issued. It’s a simple principle to apply across the board.

Just keep an eye on your credit card charges, if there are any. If the charges are excessive, they may negate the benefit of using this strategy at all. Some companies might also charge you extra if you pay by credit card, so do your research before diving in head first.

If you like to be organised and efficient, with online banking you can actually select the date you want the payment to go out the door. This way you can still be efficient and process your bills the moment you receive them, while also paying your bills on the due date.

We hope you’re all enjoying these tips, join our next webinar for more information.

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Let me know which ones you’ve implemented so far?

– Daimien Patterson