Originally Posted by
selm
That's an expensive way to get/keep good credit. By the calculations I've done using mortgage calculators you can save 8 years off a 30 yr mortgage and lots of interest. I figured we could save $38,000 in interest by doing that on our mortgage.
I would think you could do it by smart use of credit cards too. As it was, we were able to pay off our mortgage(not a very large one) in full ahead of time and save the interest that way.
Congrats on paying off the truck. It's a good feeling isn't it? We did that and now that money goes into a future car fund so we'll have the money when we're ready for another car.
We don't use credit cards at all. I have never had one in all my life. Besides the mortgage all we have is bills, like electric, phone, cell phone, cable internet, satellite tv and radio (for the trucks) and auto insurance. We have monthly prescriptions to buy as well as a doctor co pay every month. That is the extent of our bills.