It's True - You Can Live Mortgage Free Easier Than You Think

People who feel they can't live mortgage free or save on their mortgage loans unless they go homeless have got it all wrong. Alas, many people erroneously think this is the wise step to take to avoid mortgage loans.

The truth is this -- it's possible for anyone to still enjoy a home and pay the mortgage without pains.

The question I get asked by most people at this juncture is -- I believe it's possible, but how do I do this and still have money for my everyday needs and a little bit of fun? You won't believe how easy it is to achieve this seemingly impossible undertaking.

As a homeowner who has already committed himself or herself with a mortgage, it's your duty to pay it off, whether you have the funds to spare for this or not. There's more to it than just bringing in thousands monthly to be able to pay off one's mortgage. To pay off your mortgage without tears will take the right care in planning, the right adjustment in your budget and the right determination.

Did you know that there are many who have paid off their mortgage in just 5 years? Wondering if there's a catch here?

No, if you are willing to undergo the sacrifice, you can be mortgage debt free.

Still wondering how you can achieve this seemingly impossible task?

Many make the mistake of spending their tax refunds each year on irrelevant expenses; don't be like them. The wise thing that should be done instead is to save the money to put in repaying your mortgage loans. You can cut off tens of thousands of dollars in years from your debt on your mortgage by just paying extra $50 to $100 monthly.

For example, a smart move is to take a fishing trip that's closer to home rather than one that's far on the other side of the United States. Instead of spending so much money traveling to Hawaii each year for your anniversary, pick a place closer so that you can save the extra.

Ladies shouldn't continue to spend so much money on pedicures and manicures and those expensive monthly spa treatments; they should do these themselves instead, and save the extra money. For golf loving guys out there, I hate to say this but if you reduce your golfing to once a month instead of weekly, this will help you save some extras for putting aside to paying off your mortgage.

If you want to shave 6 years from your mortgage loan payment, then take the payment of extra hundreds of dollars seriously. To increase your savings, make it a habit to pay any little extra you have. Now, who can afford to miss such an opportunity?

Don't tell me your income is too low because it shouldn't stop you from saving extra $10 to $25 monthly from the amount you spend on beer, cigarette, lunch or other irrelevant expenses at Wal-Mart or Target. If you want to be mortgage debt free faster, talk to your lender to increase your payments. It's possible to return to the amount you were previously paying, if you get stuck with paying this new increase.

Why use up all your tax refund money when you can put it aside each time and use it as payment for your mortgage? Commence a different account for the purpose of vacations, entertainment or any such extras and save money from eating out, wasteful expenses, etc. This doesn't mean you should start living the life of a monk; what it means instead is to learn to start living a moderate life and not a wasteful life. Trim the edges of entertainment a little, not stop it completely. Reduce your weekly outing to once a month.

It's as simple as learning to be moderate in your living expenses, then save the extra for paying your mortgage loans. Just go ahead and do the math with a calculator to see. As far as I'm concerned, almost everyone will admit that they will like to save tens or even hundreds of thousands of dollars during the time of their mortgage.

The wise folks know that there's more to owning a home than selling their lives. You can pay off your entire mortgage loan within 5 to 10 years if you consistently follow a budget and take charge of your spending habits.