Question

Add extra to principal as I get it, randomly? Or just every 2 weeks what I have put it in all at once? I randomly watch kids and sell stuff so sometimes it’s every day I get money.  

Answer 1

Love this chart you should sell rhem

Comments

@isagoge i agree!  

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@randarandal can I pm u a ?  

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@isagoge can I pm u a ?  

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@chris yes

Answer 2

Cute chart!  

Answer 3

I would do once a month if able. I do that with extra car payments. Lately we haven’t been able to do extra.  

Answer 4

I would save up the money and add the extra at time of my normal payment. That way, it's going to principal. It's best to do that twice a month.  

Answer 5

I love the chart! Where can we find it?  

Comments

@chris Natoli I made it

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You are very talented! It’s awesome!  

Answer 6

I do our extra principal payment once a month just at the end because it’s whatever money I have saved up from extra selling.  

Answer 7

I do it once a month. I put what I can (more than half) every two weeks in a savings account and then apply it all in one big payment.  

Answer 8

I would do once a month, only because for me it would just easier to do one extra payment as opposed to several smaller ones.  

Comments

@chris Muy and smaller ones don’t help interest that much, right? That’s why I ask, more paid means less interest

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@chris I'm not to sure, if it was a credit card paying more than once a month works well because interested is calculated by the average daily balance. I'm not sure how a mortgage interest works. Also It might be a good idea to check with your lender or bank to see if they penalize you for making extra payments, I don't think they do that anymore but One of my lenders will not allow extra payments unless they are "considerable". But overall any payment made directly to principal will help with interest, as it will be paid of sooner

Answer 9

I do mine once a month. At the moment it’s just $100 but it feels good every time!