Monday, March 1, 2021

Things to Give Up so You Can Pay Your Mortgage on Time

Many people want to be debt-free, because they know that debt is a major cause of stress, yet most are still not quite ready to give up certain aspects of their daily lives in order to pay their bills and loans on time.

Mortgage being the biggest loan, is often sacrificed because of the habits that most people can’t give up. They delay mortgage payments for a one-time vacation or a lavish party, or an extravagant purchase that puts their financial situation in a bad shape. 

Your goal to a debt-free and risk-free life is won through discipline and consistency, therefore you should be serious about what you would be willing to give up. Check out the things below that may be worth cutting in order to pay off your mortgage on time and eliminate your biggest debt in the near future.

Eating out often

Dining out with family and friends is one of our favorite things to do. But dining out even once a day can add up quickly. If you spend $10 every time you dine, that’s roughly $70 in a week or $280 in a month. How much more if you eat out during weekends? If you can cut it in half or just eat at home with the family, you can save a lot and you can add that savings to your mortgage payments every month.

Monthly subscriptions

If you want to save money, you can start by reviewing how many monthly subscriptions you have going at a time. Services, such as gym memberships, cable TV and online streaming subscriptions might seem like a few dollars, but you’ll feel the weight of their absence by year’s end.

Take time to review your subscriptions as you may be paying for recurring monthly subscriptions that you no longer use. If cancelling your subscriptions altogether seems too drastic, you can look for a more affordable alternatives.

Social media clout and peer pressure

The world of social media is filled with people bragging about their fancy new purchases which put pressure on others to spend in order to keep up with the trend. Once this happens, you don’t only buy your wants but you overspend, sacrificing major loans such as the mortgage. 

It’s essential to know your real goals and not the ones dictated by society or your peer. In achieving your goal in paying the mortgage on time, you might need this loan balance calculator to always remind you of the remaining amount you still have to pay for your mortgage.

The mortgage balance calculator need the following details :

Home price

Down payment, it is always advisable to make at least 20% down payment to avoid additional payments such as insurance

Original loan amount, is obtained by subtracting down payment from the home price

Original loan term in years, you can choose to pay the loan up to 30 years

Annual interest rate (APR %)

Monthly principal & interest (optional)

Number of payments made

Number of payments remaining

Month and year of first payment:

The result will show how much is your remaining mortgage balance therefore giving you an idea of how much to save and what other things to give up so you can be sure you’re not missing on any important payments, such as the mortgage. This calculator will help you motivate to give up a few things to pay on time and make extra payments. This tool will also remind you to spend wisely on the needs and don’t fall victim to social media and peer pressure.

You don’t need to sacrifice everything in order to pay off your debt. You just have to select a few that aren’t really helping you achieve your goals. Learn to prioritize and determine where it makes the most sense for you to cut back.  


  1. These tips are super useful. I go to eat out so,I have to make it like a special day in order to not waist my money.

  2. HAHAHAHA we could never give up eating out all the time - if we did, my husband would NEVER eat.

  3. these are amazing tips, I actually just bought a house and am all about saving money since we have fix a lot in the house

  4. This is very important! Budgets can help as well.

  5. This is so helpful not just for the mortgage but any time you need to save some dough!

  6. If people allow social media to determine their spending, there is more wrong with their habits than they think. But unfortunately social media has become more than it should be in too many peoples lives.

  7. I've definitely cut back on eating out so I am saving money for a place of my own!

  8. These things, ie, cutting down in expenses you can live without, are a must to pay what really makes sense and provides a roof over your head.

  9. These are great tips. I have so many magazine subscriptions and I don't even read them. I should start with that.

  10. Nice tips! When I get my paycheck, the first thing I pay is important bills. I never delay, I pay them on the same day as payday. So I can know that I pay everything.


Hi! Let's all try to add more positivity in this world and adhere to the saying, "if you don't have anything nice to say, keep silent."

Showering you with unicorn poop so you'd always stay magical! Heart heart!