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There is nothing more powerful than time when it comes to investing.

Time allows for your investment to grow and the power of compound interest to take place.

The same can also be said about paying off your mortgage quicker. Time can be your friend if you use it correctly.

Something as simple as giving up a coffee a day can make such an impact. Imagine being mortgage-free two and a half years earlier than you expected…how would that change your life?

Here’s a breakdown.


$400,000 mortgage with 25 years remaining has a payment of $1,893/month.

A cup of fancy coffee is $5/day. If you put that toward your mortgage instead, you would reduce your mortgage from 25 years to 22 years and 6 months. The savings in interest would be over $20,000.

There are many ways to set this up. You could take advantage of the prepayment privileges with your current lender. This would mean increasing your mortgage payment by $147/month or $73.50 if you’re bi-weekly or semi-monthly. This would allow you to set it and forget it. You could also save the $5/day in an account and make a lump sum payment each month or year against your mortgage…but that has more moving parts and you’re more likely to forget.

Another bonus, by increasing your mortgage payment, you are guaranteeing yourself a rate of return on your $147/month investment, and the best part, it’s a tax-free investment.

Maybe giving up your fancy coffee or whatever beverage you indulge in isn’t an option and I get that. But the simple point is to show you how just $5/day can change your life.

P.S. – I have a VIP Club where I giveaway awesome gifts each month as well as mortgage tips and insight… and it’s FREE!

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Inderraj Saini

About Inderraj Saini

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