BLOG – Tesco say “Every little helps”. They’re right. Money & your Mortgage (2 minute read)

Tesco (the supermarket chain) say “Every little helps”.

They’re right. 

I paid off my mortgage in 7 years not 25 years. 

  • Not because I knew something extraordinary. 
  • Not because I went to a magical mortgage seminar. 
  • Not because I read a special book.

It was because I knew that “every little helps”.

EARN – I had a job in a consultancy. At weekends I worked as a scuba diving instructor. I also did silver service waitressing. 

“I don’t have time to work a 2nd or 3rd job” I hear you say….

LEARN – I learnt to do things differently. For example, I rented out my spare room. The lodgers rent covered more than half the mortgage. My friend Lucy pays her mortgage doing AirBnB.

YEARN – I realised that when you’ve got a mortgage you need to spend less than you earn. There’s no shame in taking your own water bottle, flask of coffee and snacks. 

RETURN – (I’m NOT giving financial advice). I returned every cent to the bank. I got a high interest savings account, put every extra cent there and every 6 months I made a BIG mortgage overpayment. Speak to a qualified expert to see what might work for you.

This month it’s the Underspent “March through your Mortgage” challenge. Would you give Earning, Learning, Yearning or Returning a go? Let me know. 

Thanks for reading. 

Until next time…