30 Pieces Of Financial Advice From Women For Other Women

"Run an amortization schedule for whatever debt you are paying — school loan, car loan, home loan, etc. Make your regular payment, and an extra payment of the principal for that month."

"If you can't afford it on all your debt, do it for the debt with the highest interest rate. This will pay off your loan in around half the time, and save you a significant amount of interest."If you're considering applying this ~wonderful~ piece of advice to your finances, there are a few small things you should know first:This can lower the life of a loan, which means you can save on those interest charges.

. Also, be sure to let your lender know that you want your extra payments to go toward principal, not next month's interest."If you can afford to, start putting extra repayments toward your mortgage from day one. It's especially important to do this in the first few years of your loan because the quicker you reduce the principal, the less interest you'll pay over the life of the loan.

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