No matter how you slice it, your mortgage payment can take a big slice out of your monthly budget. Whether you’re interested in paying off your mortgage early or you simply want some help covering this monthly expense, these awesome ways can help.

Get a Roommate

Without a doubt, one of the easiest ways to make your monthly mortgage payment easier to bear is to have someone else make the payment (or part of it) for you! Plus, when you rent out a room, your roommates can help cover other expenses, like cable, electricity, and water.

Just make sure you have a signed agreement outlining the terms. Your terms should include: how much rent is, when rent’s due, the term of your renter’s stay, and any additional expenses for which they are responsible for.

Find a Simple Side Job (that works with your schedule)

A lot of advice columns talk about getting a second job. Unfortunately, most second jobs aren’t very practical. They’re just too darn restricting and take up too many hours in the day.

Look for something that will allow you to bring in a little extra cash without being so overwhelming time wise. You might become an Uber driver. Or you could ref a few rec league games. These types of jobs are normally more flexible with how many hours you work and when you work them.

Reduce Your Living Expenses

Reducing your living expenses doesn’t have to mean living like a hermit. Take stock of your existing monthly payments. Often times you can replace expensive products and services with less expensive choices that you’ll enjoy just as much. This will keep you from feeling like you’re pinching pennies and making serious sacrifices at every turn.

For example, you might replace your cable bill with a streaming service like Amazon Prime or Netflix. You could also consider bundling your phone plan with family members and/or friends. You could skip the expensive gym membership and start biking to work. (This is a triple savings, as it will also reduce your gas bill and waistline!)

Treat Your Tax Refund Like a Bonus

Uncle Sam’s been holding onto your cash for quite some time. Now’s your turn to put that money to use. Make a large extra payment each year and you’ll pay off your mortgage faster.


Another way to reduce your monthly mortgage payment is to actually reduce it. By refinancing into a lower rate, you can save yourself a substantial amount of money monthly and over the lifespan of your loan.

Want to talk about refinancing? Let’s talk about it today.