I am at the point where I can now push every last extra penny each month in to paying off my mortgage early.
But I am really confused as to how to best push every last penny in to the mortgage.
For instance, once I get paid,
I have set monthly expenses that I know I need to account for. And so, ideally, after subtracting those, I'd like to make a payment right then and there on payday to my mortgage as extra payoff.
But, there are expenses that are like yearly, say a $500 yearly expense, or something else unplanned, that may come up.
I have a set amount for emergency fund.
So, do I just simply increase the emergency fund / high yield savings a little to account for the extra expenses?
But, that means I'm witholding a certain amount that could go to pay off the mortgage.
The thing is, every single penny COUNTS on paying off that mortgage. To have some extra just sitting somewhere, be it checking or savings, is just so wrong to me.
How do you get every last penny in to mortgage without messing with your set emergency or any other expenses that you do not know about totally.
????