
How can I pay off my loan faster?
Make extra principal payments, switch to biweekly half‑payments (13 months per year), or refinance to a shorter term. Even small extra amounts save significant interest.
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Make extra principal payments, switch to biweekly half‑payments (13 months per year), or refinance to a shorter term. Even small extra amounts save significant interest.
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Compare your loan rate to expected after‑tax returns. If your loan APR is 6–7%+, paying it down is a strong guaranteed return. Always keep an emergency fund first.
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Yes, but specify "apply to principal" with the payment; otherwise they may advance the due date instead of reducing balance. Check for prepayment penalties.
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Most installment loans use simple daily interest: (Balance × Annual Rate) ÷ 365. This gives the cost per day; payments reduce balance and therefore tomorrow’s interest.
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Early payments are interest‑heavy because interest is charged on today’s balance. As principal falls, more of each payment goes to principal. Extra payments accelerate this shift.
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Yes. Because interest accrues daily, any principal paid today reduces tomorrow’s interest. You don’t need to wait for the due date to benefit.
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Target the loan with the highest daily cost (equivalent to the highest APR × balance). This is the avalanche method and minimizes total interest.
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The optimal age to buy LTC insurance is 50-65, with 55-60 being ideal for most people. Before age 50, you're paying premiums too far in advance and total costs may exceed benefits. After age 70, pr...
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Current 2025 national median costs: nursing home care $108,000/year ($297/day for semi-private room), assisted living $64,000/year ($5,350/month), home health aide $62,000/year ($30/hour full-time)...
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Alternatives include: 1) Self-insurance - save/invest premium money yourself (works if net worth exceeds $2-3M), 2) Medicaid planning - spend down assets to qualify for government coverage (only co...
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Self-insurance makes sense if your net worth exceeds $2-3M - you can absorb $300K-$500K in care costs without depleting assets. For net worth $200K-$2M, LTC insurance provides leverage: $90,000 in ...
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Inflation protection is crucial if you buy long-term care insurance before age 65, as coverage can lose 50-70% of its value in 20 years. Opt for 5% compound inflation protection for the best covera...
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1 in 292,201,338. You’re 584x more likely to be struck by lightning this year. Expected value per $2 ticket is strongly negative.
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No from an expected value perspective. If you enjoy it as entertainment, treat it like a small, capped entertainment expense—not an investment strategy.
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Even $20/week invested at 7% grows to about $100,000 over 30 years. The compounding benefit dwarfs the near-zero probability of a jackpot.
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Some have higher win odds but much lower payouts; expected value is still negative. State lotteries are designed to generate revenue, not investor returns.
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Automate transfers to investments, or set a reward system: invest first, then allow a small entertainment budget. Use our invested-instead calculator to visualize outcomes.
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To use the calculator, enter the total miles driven and the amount of fuel consumed in gallons. Click 'Calculate' to see your miles per gallon (MPG) efficiency.
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