Here's a great money saving comment left on my post titled The Year-End Personal Finance Moves You Should Make:
Another solid year end financial move (for those with a mortgage) is to make your January 07 payment in Dec 06. It will result in added interest that you can deduct on your 06 tax bill. Granted, you will (potentially) have less to deduct next year, but a dollar today is worth more than a dollar a year from now!
I used to do this every year when I had a mortgage and do the same with my real estate taxes now. Yes, I want to cut my taxes as much as possible THIS YEAR -- and I'm sure I'll find some more things to deduct next year. ;-)
Besides, making an early mortgage payment could save you a bit on interest as well! And while you're at it, why not just make an EXTRA payment to help you pay off your house early?
Comments
You can follow this conversation by subscribing to the comment feed for this post.