Have you ever paid extra on your loans? Generally people just simply add extra money to their check and figure that everything is going to work out fine. One common misunderstanding is that the people need to specifically apply the extra to the principle of the loan. This is the most effective way to pay down your debt quickly. If you are considering doing this you should speak to your bank and make sure that the following three things are not happening. 1) Some banks simply take that money and apply it to the next payment that you make. This … Continue reading →