Holiday $$ Survival Guide

By Lambeth Hochwald

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home mortgage payment

3. Make an extra mortgage payment

If you're a homeowner, making an extra mortgage payment is like a fantastic financial gift to yourself. (And so much better to invest in your home rather than in a furnishing for it, right?)

"Your goal is thirteen payments in 12 months," Sande Taylor says. "This is a tax benefit since you'll receive an additional deduction from the mortgage interest paid. This will also help you to pay down your mortgage balance at a faster pace," she says.

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