I often share deals and money saving tips with my friends and co-workers. Of all the replies I get the ones that I find the most disappointing are, “Yeah, but I don’t have time for that” or “Sounds like too much work”. Knocking hundreds of dollars off your monthly budget might take some leg work, it might even take you hours of your time. You need to focus more on the outcome. Is all of that time and energy now worth saving thousands of dollars a year? Is keeping that money in your pocket worth some extra effort today?
One of the goals of this site is to try and save or earn 100 dollars 20-30 times a year, every year. I recently wrote an article about the value of negotiation. Reviewing your monthly expenses line by line and working with those businesses to reduce your cost is a great way to save money. This is certainly true of your mortgage.
The other day I read an article about a man who knocked 1.525% off his interest rate. Of course everyone’s mortgage situation is unique and in some cases it might not be possible or cost effective to lock in a lower rate. My point is that you should investigate. Search the web, make some calls. All you have to lose is some time. If you managed to knock 200 dollars a month off of your monthly mortgage payment you would save over 2000 dollars a year. If you had 20 years left on that mortgage you would save $40,000 dollars over that period plus interest. Who doesn’t have time for 40 grand?