When you buy a home, a 30-year mortgage sounds like forever.  However, if you make a plan to pay your mortgage off faster you can save money by cutting the interest you pay over the life of the loan.  Committing certain funds for the express purpose of paying down your mortgage will help you reach your goal faster.  For example, use your tax refunds each year to pay down the principal.  Instead of thinking of tax refunds as “free money” think of them as a way of getting out from under your mortgage faster.

For more tips on paying down your mortgage read, “Little-known methods to pay off your mortgage faster.”