As your mortgage advisor, I am not here to tell you to give up your favorite coffee, but I am here to show you how something as simple as your daily coffee run can reveal some powerful lessons about how to pay off your mortgage faster.
The Cost of Coffee and the Opportunity It Hides
Let’s say you spend $5 a day on coffee, five days a week. That is $25 a week, about $100 a month, and $1,200 a year. Over 10 years? That adds up to $12,000.
Now imagine if you took just a portion of that and applied it toward your mortgage principal instead. That small, daily choice could save you thousands in interest and shave years off your loan.
Small Choices, Big Results
You do not need to make big changes to see an impact. Something as simple as adding $100 a month to your mortgage can make a big difference. For example, on a $300,000 loan at 6%, adding $100 extra to your principal each month could save you over $38,000 in interest and help you pay off your mortgage more than five years earlier. That is your coffee habit at work, just redirected with purpose.
Create a “Mortgage Mindset”
Think about all the little expenses that sneak into your monthly budget like food delivery, unused subscriptions, extra shopping trips. These small amounts can become powerful tools when applied consistently to your mortgage.
Try automating extra payments or rounding up your monthly payment. Use your tax refund, work bonuses, or even income from a side hustle to chip away at your loan. These little decisions really do add up.
It’s Not About Deprivation, It’s About Direction
This is not about cutting all the fun out of your life. It is about being more intentional. Maybe you still enjoy your morning coffee, but cut back in another area. It is all about choosing what matters most in the long run.
Let’s Build Your Plan
As your loan originator, I’m here to help you explore strategies to pay down your mortgage faster, without feeling like you are giving everything up. Together, we can create a plan that fits your budget and brings you closer to financial freedom.
Have questions? Let’s talk. Sometimes it just takes a new perspective and a little coffee math to get you on the right path.
