25 Home Depot Shopping Tips & Tricks to Save Money

Since purchasing my first fixer-upper home a few years back, I’ve set foot inside the Home Depot at least 100 times, and I couldn’t begin to tell you how many visits I’ve made to the home improvement giant’s website.

I’ve spent more money than I’d like to admit. Thankfully, I’ve saved many thousands of dollars too.

If you’re planning a home improvement project to reduce homeownership costs, improve your home’s energy efficiency, or increase your home’s value — or if you’re just taking care of a few DIY projects — check out these tips and tricks.

How to Save Money Shopping at Home Depot

These are the most reliable tips to save money at Home Depot. They range from little-known discounts to well-worn advice on shopping trip timing.

1. Find Home Depot Coupons

Home Depot’s coupon page is a goldmine for discounts and deals in-store and online. If you’re planning a store visit, scroll to the bottom to search for your local ad, which contains time-limited sales not advertised elsewhere on Home Depot’s website.

2. Sign Up for Text Alerts

Sign up for Home Depot’s text alerts if your mobile provider doesn’t charge for inbound SMS messages. You’ll receive at least several messages per week.

Home Depot’s text alerts aren’t particularly well targeted. I’ve received countless offers from departments I’ve never purchased anything in.

But enough alerts are relevant to justify signing up, especially if you’re in the early stages of a big project that will require multiple trips to Home Depot. You can always unsubscribe when you complete the project.

3. Join the Email List for a One-Time Discount

Sign up for Home Depot’s free email list to earn $5 off your next purchase online or in-store. The discount comes as an emailed coupon.

After signing up, you receive Home Depot’s occasional promotion emails, which offer:

  • In-store and online discounts and savings opportunities
  • How-to guides for DIYers
  • Home improvement project ideas and tips

If you’re worried about the extra emails, popular email suites like Gmail divert promotional emails into a separate inbox (labeled “Promotions”) to keep users’ primary inboxes clear. Or you can set up a filter of your own. You’ll barely notice the additional message volume.

4. Search HomeDepot.com for Product-Specific Rebates

Home Depot’s rebate center advertises thousands of rebates on specific products. Part of the reason it has so many is because Home Depot rebates apply at the SKU (unique stock number) level.

That means products that come in different configurations or sizes are likely to have multiple rebates associated with them — different rebate amounts for different sizes, for example.

Many individual SKUs are also eligible for more than one rebate. For instance, an energy-efficient appliance might qualify for a green energy tax credit, a utility company rebate, and a manufacturer rebate.

You must apply for each rebate separately online or by mail, but it’s worth the trouble when you stand to save hundreds on a major purchase.

5. Check for Overstock Deals

Home Depot’s special values include hundreds of overstock products in your local store, either in stock or eligible for ship-to-store. Many are deeply discounted — over 50% in some cases.

It can be hard to find the exact color or specifications you’d like. But if you’re not picky, it’s a fantastic place to find deals on the home goods you need.

If you’re already in your Home Depot store or planning to venture in anyway, check the back for heavily discounted overstock and damaged merchandise. In the rear of the lumber department, old boards sell for up to 70% off, and store staff will cut up to two lengths for free.

Nearby, there’s often a cart or two of miscellaneous discounted products with cosmetic dings or dents that don’t impact function.

6. Look for Daily Deals

Home Depot runs enticing daily deals every day. The category-specific Special Buy of the Day rotates through fairly broad product categories, such as residential water treatment systems and whole-home cooling systems.

7. Use a Cash-Back Credit Card With Rotating Categories

Using a cash-back rewards card with rotating cash-back categories is a must every time you patronize a home improvement retailer.

Your best bet is the Chase Freedom Flex credit card (read our Chase Freedom Flex review) and its quarterly rotating 5% categories. Home improvement stores enter the rotation every year or two. However, Chase makes no guarantees about what’s in store for the future (and typically doesn’t reveal 5% categories until a few weeks before the start of a new quarter).

8. Take Advantage of Temporary Credit Card Offers

Chase Freedom isn’t the only credit card that promises above-average rewards on Home Depot purchases.

Other Chase credit cards have been known to extend time-limited bonus opportunities to cardholders. Examples include the Chase Freedom® Unlimited credit card (read our Chase Freedom Unlimited review) and the Chase Sapphire Preferred® card (read our Sapphire Preferred review).

Amex Offers, a members-only discount database for American Express cardholders, usually includes home improvement stores as well.

9. Wait for Promotions to Make Major Purchases

Whether you’re planning a major DIY or contracted home improvement project, it always pays to wait for the right time to purchase your supplies. Once you’ve finished your shopping list, visit or call to ask about upcoming promotions.

You probably won’t have to wait long.

For example, before a major kitchen renovation, my wife and I purchased cabinets and countertops in two separate orders. We bagged the countertops as soon as we decided on the material and pattern to avoid missing a 20%-off sale. But we waited two weeks after settling on cabinets to make the purchase. That was just long enough to snag 30% off that part of the order.

Our design tech told us we probably wouldn’t have to wait longer than two more months for the next cabinets promotion.

10. Be the Squeaky Wheel

Don’t hesitate to escalate. This trick is near-universal in the retail world, but I’ve had excellent luck with it at Home Depot. Department and store managers have tremendous leeway on pricing.

Even rank-and-file department employees are authorized to knock up to $50 off merchandise if the customer isn’t satisfied.

I thought I’d gotten a good deal on new interior French doors during a 15% off sale, but when it took longer than promised to receive them, I politely complained and got another $50 off on the spot.

11. Take Advantage of Special Financing on Major Purchases

Home Depot offers interest-free financing on large purchases for credit-qualified customers.

Chain-wide, the standard deal is a 0% annual percentage rate (APR) for six months on purchases of $299 or more. Individual stores may offer longer interest-free deals on larger purchases.

I’ve taken advantage of a 24-month 0%-APR financing period on a four-figure purchase (the threshold was $1,999 in that instance). That’s the longest interest-free financing period I’ve seen at Home Depot.

But applying for Home Depot’s 0%-APR financing offers means submitting to a hard credit pull that temporarily lowers your credit score by a few points. If approved, you receive a credit card with a credit limit determined by things like your credit score and income.

The larger the purchase amount, the higher your initial credit utilization ratio. And on substantial purchases, your credit limit could be just a little higher than the purchase price. That also negatively affects your credit score, with the effects lingering until you mostly pay off your balance.

Make up for the hit by keeping your credit card account open and unused after paying off the initial balance. I keep my Home Depot credit card in the bottom of a secure filing cabinet, where it’s remained untouched since it arrived.

There’s another perk to using a Home Depot credit card or credit line: an extended return window.

You can return most merchandise (except those listed as uncovered by Home Depot’s return policy) purchased with qualifying Home Depot credit products for up to one year (365 days) from the purchase date.

12. Capitalize on Home Depot’s Expansive Price-Match Policy

Home Depot’s low-price guarantee includes a generous price-match policy that covers in-store and online purchases.

If you find a lower advertised price on an identical product to one you purchased from Home Depot, Home Depot will match that price and the competitor’s shipping rate (if any) and reimburse the difference.

13. Rent a Truck at Your Local Home Depot

Are you moving across town? Or planning to haul the results of your DIY demolition project to the dump?

Before overpaying for a U-Haul or calling in a favor from that one friend with a pickup truck, check your local Home Depot. Though selection varies by store, many have flatbeds (essentially heavy-duty pickups) and box trucks (large moving vans) available for rent by the hour or day.

Home Depot’s truck and tool rental page has more details. For flatbeds, the ideal rental window is two hours or less, after which hourly pricing rises steeply.

14. Rent Tools Before You Buy

Home Depot rents a slew of tools that are too expensive, bulky, or specialized for most people to invest in, especially if you’re only using them occasionally or for one project.

After confirming the tool you need isn’t in stock at your neighborhood tool lending library or hardware store, both of which will probably be cheaper to rent on an hourly basis, stop by your local Home Depot warehouse.

Not all locations offer tools for rent, so check online beforehand.

15. Look for Prices Ending in 6 and 3

It’s easy to spot in-store discounts at Home Depot. Just find the yellow price tags and look at the last numeral. If it’s a 6, it’s a good deal. If it’s a 3, it’s a great deal. It’s the lowest the department is willing to go on that particular merchandise.

Discounted prices ending in 6 typically last for six weeks. Then, the price drops to one ending in 3, where it remains until the product sells out or Home Depot removes unsold inventory to make room for higher-margin stock.

16. Return Dead or Unproductive Plants Within One Year for a Full Refund

The Home Depot garden center’s return policy is better than any other department’s. Perennials, trees, and shrubs all carry a one-year (365-day) guarantee.

If they die or fail to bear flowers or fruit (when applicable) during that period, you can return them for a full refund.

17. Take Advantage of Recurring Annual or Seasonal Sales

Home Depot excels at seasonal sales. At any given time, at least one department is holding a blockbuster clearance event. Examples include:

  • Plants. The garden center typically offers the most enticing deals in April, or whenever spring comes to your neck of the woods. In colder climates, fall sales on perennials, including trees and shrubs, typically feature massive markdowns. Members of the Home Depot Garden Club may qualify for additional discounts and sales not available to the general public as part of their free membership.
  • Holiday Decor and Accessories. Holiday decorations like wreaths, natural and artificial Christmas trees, and serving ware first go on sale during Black Friday week. The home improvement giant marks them down even further in January.
  • Grills. The week of July Fourth is the best time to buy grills at Home Depot.
  • Paint. Paint discounts peak on Memorial and Labor Day weekends, with savings up to 40%.
  • Kitchen and Bath. The first quarter of the year is the best time to make significant kitchen and bath purchases at Home Depot.
  • Patio Furniture. Take advantage of clearance items in Home Depot’s patio furniture department during the waning days of patio season, which can vary by geography.

18. Set Up Subscriptions for Recurring Purchases

Home Depot Subscriptions is a recurring home delivery program that promises 5% savings across the board on household staples like coffee, cleaning supplies, air filters, and pet food.

The program also touts contractor staples, such as job site safety equipment, painting supplies, and power tool accessories.

But Home Depot Subscriptions isn’t the only subscription service. So confirm it’s cost-competitive with alternatives like Amazon Subscribe & Save before enrolling.

19. Leverage Your Military Status

Home Depot treats service members well. Active-duty and retired career personnel get 10% military discounts on every order.

But Home Depot doesn’t leave out veterans entirely. It also offers the same 10% discount to veterans, including honorably discharged enlistees and reservists, during select holiday periods, such as the days leading up to Memorial Day and Veterans Day.

20. Buy Floor Models

If you’re in the market for a major appliance and don’t mind one other people have touched and ogled, buy the floor model. It isn’t always apparent whether floor models are for sale, so ask the department manager if you’re unsure.

And while haggling isn’t common elsewhere at Home Depot, managers are authorized to move older display inventory to make room for newer stock. Discounts of up to 30% off aren’t out of the question.

21. Buy Oops Paint

When you’re doing a project that doesn’t involved finding the perfect hue, such as painting the inside of your garage, turn to the Home Depot paint department’s “oops paint,” the term it uses for paints that are the result of mixing mistakes.

For color-flexible customers, the standard oops discount is about 70% per gallon.

22. Buy From the Pro Desk for Deeper Discounts

The Home Depot Pro Desk primarily deals with professional contractors, but it’s willing to make an exception for high-rolling DIYers too.

If your purchase list adds up to more than $1,500, you qualify for Home Depot’s Volume Pricing Program, which promises up to 30% off materials and supplies.

Technically, you need to join the free Pro Xtras club to get the discount, but it’s often possible to work out a one-time deal with whomever’s on staff at the Pro Desk.

If you’re not planning to spend $1,500 or more on your DIY project, you can still take advantage of bulk pricing on raw materials like tile, lumber, and plumbing.

When available, the bulk price appears on the same price tag as the regular price along with the minimum qualifying quantity.

23. Ask for Recent or Forthcoming Sale Pricing

Home Depot department heads have leeway to extend sale pricing upon request. Asking for a deal that ended last week (or isn’t scheduled to begin until next week) won’t pan out every time.

If you can, waiting for the next sale is a better bet. Still, asking for sale pricing outside sale periods is worth a shot.

24. Get Warrantied Tools Repaired In-Store

If the tool or appliance you bought at Home Depot malfunctions before its manufacturer’s warranty period expires, bring it into your local store for repair. As long as the warranty is valid and the problem arose from regular use, Home Depot doesn’t charge for repairs.

Better yet, it files the warranty claim on your behalf, saving you time and eliminating the suspense of waiting for approval.

25. Use Third-Party Resources to Save Even More

These resources aren’t directly affiliated with Home Depot, but that doesn’t mean they can’t significantly reduce your net spending with the home improvement giant:

  • Paribus. Sometimes, we don’t realize we’ve overspent until days or weeks after the fact. Capital One’s Paribus crawls the Internet for price declines, automatically notifies the user when it finds a lower price on a purchased product, and helps them recover the difference. Paribus is free for Capital One® Venture® Rewards credit card and Capital One® Quicksilver® Cash Rewards credit card users, among others. (Read our Capital One Venture and Capital One Quicksilver reviews.)
  • Gift Card Resellers. Buy discounted Home Depot gift cards through resellers like Raise.
  • Cash-Back Apps. Find unique coupon codes or cash-back opportunities from popular cash-back apps like Ibotta, Honey, and BeFrugal. For best results, install the apps’ browser plug-in and shop online to get a reminder to activate them while shopping.

Final Word

Finding what you’re after in a mammoth Home Depot store isn’t always easy.

Paying less after locating it than you would at another home improvement superstore? Comparatively, that’s a snap.

With so many reliable ways to save money at America’s largest home improvement superstore, it’s a wonder DIYers shop anywhere else. As you plan your next home remodel project or seasonal appliance purchase, don’t forget to look for the savings opportunities.

Source: moneycrashers.com

How the New Tax Law Affects Vacation Home Rentals

The new tax law that took effect in January includes several changes that have a significant impact on owners of second homes, including vacation homes. It’s a good idea for current owners and those who are thinking of buying a second home to familiarize themselves with the new law now. It’s not too soon to plan for your 2018 tax returns.

The news isn’t so good for families that don’t rent out their vacation homes because they probably won’t be able to deduct as much as they have in the past. However, those who use their second homes only or mostly for the rental income may do better than they did under the old law.

A luxury home sitting on a lake shore.A luxury home sitting on a lake shore.

Deducting state taxes

The new law limits the total amount of state and local taxes you can deduct to $10,000 on a joint return for single and joint returns. The new limit covers sales, occupancy, income and property taxes, including taxes paid at closing on a new property. If you own a primary and secondary home, you will almost certainly exceed this limit. You will be able to deduct less-perhaps a lot less in property taxes than you did last year. The new limit on state tax deductibility will affect homeowners in high tax states more than others.

Mortgage interest deduction

Despite attempts to eliminate or seriously reduce its value to homeowners, the deduction for mortgage interest survived largely intact in the new law. The most significant change was the lowering of the limit on total amount of the cost of mortgage debt for all homes owned by a taxpayer.

The new law “grandfathers in” or exempts mortgage interest on homes purchased before December 15, 2017. Homes purchased after that date will come under the new lower limit for the mortgage interest deduction. Thus, homeowners who already owe $750,000 or more in mortgage debt and buy a second home this year, they can’t deduct any of the mortgage interest incurred in the new purchase.

The new law increased the standard deduction to $12,000 for single filers and $24,000 for joint returns. Because of the changes in the deductibility of state property taxes and mortgage interest, homeowners who have little or no mortgage interest and buy a moderately priced second home this year on which they pay less than 12 months of mortgage interest may find that they are better off taking the standard deduction on their 2018 taxes.

Incentives to become a landlord

For owners who want to use their second homes only for the use of their family and friends and not to rent out, the new tax law will create a disincentive to buy a home. For those who plan to rent out their property, if only for a few weeks during the year, the new law may be a boon.

Most landlords “pass-through” rental income so that it’s taxed as personal income. According to the Nolo website, if the rental activity qualifies as a business for tax purposes, as most do, you may be eligible to deduct an amount equal to 20 percent of the net rental income. If you qualify for this deduction, you’ll effectively be taxed on only 80 percent of your rental income.

Second, rental properties (even a vacation home used by the owner for several weeks a year), may not fall under the limits on deducting state taxes and the cap on mortgage interest.

Friendly realtor or landlord talking showing modern luxury house for sale to young couple customers, real estate agent discussing rental home with renters tenants, planning property purchase concept.Friendly realtor or landlord talking showing modern luxury house for sale to young couple customers, real estate agent discussing rental home with renters tenants, planning property purchase concept.

“On a rental property, you could have a mortgage of $10 million and deduct the full amount of the interest. If the property is part rental and part residence, you can deduct the mortgage interest without limitation for the period of time that it’s a rental property — provided it rented for 15 or more days,” said Robert Gilman, a partner at New York-based accounting firm Anchin, Block, & Anchin LLP recently featured in the Wall Street Journal.

If so, an owner of a vacation home that’s rented out for two weeks or more can write off on a pro-rated basis all mortgage interest and state taxes along with all other operating expenses incurred by owning and renting the property, including maintenance, advertising, and repairs.

According to Stephen Fishman on the Nolo site, “Thus, the portion of a rental host’s mortgage interest and property tax allocated to the short-term rental activity don’t come within the limits. These are rental deductions, not personal itemized deductions.”

Finally, the new tax law includes a new tax deduction for individuals who earn income from businesses owned individually or by pass-through entities like limited-liability companies or partnerships.

Family of four on wooden jetty by the ocean.Family of four on wooden jetty by the ocean.

“During 2018 through 2022, hosts will be able to use 100% bonus depreciation to write off in a single year the full cost of long-term personal property they use for their rental business. Bonus depreciation may now be used for both new and used personal property. It may not be used for real property,” writes Fishman.

Some economists forecast a drop in demand for vacation properties as a result of changes in the tax treatment of vacation homes. However, demand has remained strong in most of the nation’s vacation destinations.


Steve Cook is the editor of the Down Payment Report. He is a member of the board of the National Association of Real Estate Editors and writes for several leading Web sites, including Inman News. From 1999 to 2007 he was vice president for public affairs at the National Association of Realtors.

Source: homes.com

How to Determine What You Can Afford for a Car

How much can you afford for a carHow much can you afford for a carYour dream car and the car that you can realistically afford can be two totally different things. If you are paying cash, then your car choice may not be a complicated one. However, if financing is your only option then how to determine what you can afford for a car becomes a crucial undertaking.

Ideally, you should go for a car whose monthly payments do not exceed what your income can handle. Your calculations also have to factor in the extra costs that go into buying a car as well as the operational expenses that you will encounter on a daily basis.

What’s an affordable car? How do you go about the calculations? Let’s find out.

Breaking Down your Car Budget

Apart from the price listed on a car, there are other costs that you should consider. These are expenses that you find out on your own and plan for; the car salesman won’t reveal them to you!

Up-sells and Cross-sells: The dealer will try to increase the displayed price, a strategy known as upselling. You will be enticed with features like extra body kits, chrome wheels, warranties, etc. Another common trick is being led to buy a different and more expensive brand or model; cross-selling. Avoid these extra costs by sticking to your first choice.

Dealership Fees: There will be registration fees, sales tax, and documentation fees. These are for you to bargain with the dealership. Such fees can drive the price up by around 10%.

Ownership Expenses: Once you own the car, other expenses start: insurance, maintenance, repairs, annual registration fees, depreciation and the like.

Gas is another major ownership expense that most people neglect to factor when making a purchase. Let’s use a Toyota Prius, a favorite for first-time owners as an example; it goes for around $20k plus a possible 5k to cover the other costs.

The car consumes about 44 miles per gallon. Data from Federal Highway Administration show that on average a driver covers 13,476 miles per year. This translates to around $907 per year at $2.96 per gallon (13,476 miles x $2.96 / 44 mpg).

True Cost of Owning a Car

After you have calculated the expected cost of the car you are looking for (plus the extra costs), your budget starts to take shape. Using the above example, you are looking at around $25,000 for a new car with a 5-year (60months) car loan. However, for the true cost of owning you need to factor gas expenses for the loan duration;

True cost of owning = Purchase + Other costs + Gas = $20,000 + $5000 + ($907 x 5) = $29,535

Can your Income Sustain the Monthly Payments?

With car financing, you will be repaying the loan on a monthly basis. So what’s the optimal percent of your monthly income that should go to the car? There is no specific answer to this since budgeting depends on your priorities.

Most experts, however, recommend that transportation should cost 10-15% of your net pay. This follows a 50/30/20 rule where 50% of your income goes to living needs, 30% to flexible spending and 20% to investments and other long-term financial goals. Your car is included in the ‘living needs’ category with the remainder of the 50% going to mortgage and utilities.

It’s upon you to ensure that your car loan repayments fall within the 10-15% range. For the Prius, the monthly cost will be around $493 (the total cost of owning/ 60 months). Hence your take-home pay should be at least $3290 for you to afford this car.

Monthly income= $493 x 100/15 = $3290 (assuming 15% of your pay is the car budget)    

Final Thought

Before you walk into a car dealership, do your homework on all the costs that will go into owning a car: Make use of free online calculators to get a rough idea of which car you can afford and understand all costs that may come with other deals like trade-ins. Lastly, negotiate your car loan for cheap rates, keep in mind that a longer loan term could mean a lower resale value by the time you have paid off the loan due to depreciation.

Source: creditabsolute.com

7 Times When It’s Smart Not to Pay Off Your Mortgage Early

Couple in front of home
Monkey Business Images / Shutterstock.com

There are plenty of reasons to pay off your mortgage early — chief among them being the many thousands of dollars in interest you stand to save.

At the same time, there also are benefits to not paying off a home loan ahead of schedule.

Which approach is the better one depends on your financial situation and goals. If one or more of the following situations applies to you, you may benefit from sticking to your mortgage payment schedule and using any extra cash for other purposes.

1. You lack emergency savings

Financial ups and downs are inevitable. The best way to ensure you can cover an unexpected expense or weather a job loss — without having to take on new debt — is to set aside some spare cash as an emergency fund.

“If you don’t have any emergency savings, work on that before paying off your mortgage, as the extra equity doesn’t benefit you like cash does,” says Pamela Horack, a certified financial planner with Pathfinder Planning in Lake Wylie, South Carolina. “If you need new tires on your car, you can only spend cash.”

For help fixing that issue, check out “9 Tips for Starting an Emergency Fund Today.”

2. You want extra liquidity

Paying ahead on your mortgage locks your extra cash in one place. In other words, by using extra cash to pay down your mortgage faster, you effectively convert a liquid asset (cash) into an illiquid asset (home equity).

Once you do that, you have only two choices for getting money out of a home: Sell it or borrow against it.

During the housing bubble a few years ago, Money Talks News founder Stacy Johnson found himself glad he had kept a good chunk of change in the bank. He was able to use it to buy the house next door cheaply and flip it for a big profit.

He explains:

“Theoretically, I could have borrowed against my house to raise the cash, but I probably wouldn’t have. Because I had the cash and it wasn’t earning much, I did something with it that earned a lot. In short, having money in the bank can really be an advantage if you’re planning to use that money.”

3. You can earn a better rate by investing

If you have extra cash to pay off a mortgage with a low interest rate but you know you could earn a higher rate of return by investing that cash, it is best not to pay off your mortgage.

“If you make a higher yield from your investments than your mortgage interest rate, you will likely be much better off in the long haul,” Abel Soares III of Hui Malama Advisors in Honolulu tells Money Talks News.

4. You want lower taxes

If you invest extra cash in a tax-advantaged account such as a 401(k) or individual retirement account (IRA), you have another reason not to funnel the funds into your home loan: lowering your current tax bill.

“Paying off a mortgage early competes with priorities that can help lower taxes, such as funding a 401(k) plan up to the maximum amount,” says Patrick Whalen, a certified financial planner at Whalen Financial Planning in Los Angeles.

A mortgage payment can also lower your taxes because mortgage interest payments are tax-deductible. But due to the significantly higher standard deductible that took effect in 2018 — a result of tax reform — fewer homeowners are likely to benefit from deducting interest.

5. Your mortgage is a hedge against inflation

A mortgage with a fixed interest rate can be a hedge against inflation, Whalen tells Money Talks News. This is because the amount of the mortgage payment is the same every month, but the value of the payment decreases over time due to inflation.

Andy Tilp, a certified financial planner at Trillium Valley Financial Planning in Sherwood, Oregon, explains it this way:

“As all your homeowner costs — such as maintenance, utilities, repairs, property tax, etc. — rise each year with inflation, the mortgage payment stays flat, assuming a 30-year fixed rate. Thus, in 30 years, what seems like a large payment now will seem relatively much smaller.”

6. Your job is uncertain

If you think you will be leaving a job and it may take some time to find another one, hold off on paying ahead on your mortgage. You might need that money to get by until your job situation settles out.

7. You have high-interest debt

If you are also paying off debt that has a higher interest rate than your mortgage — such as credit-card debt or student loans — it is technically better to put any extra funds toward that debt instead of your mortgage.

The debt with the higher interest rate is costlier. The sooner you pay it off, the more money you will save on interest over time.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Source: moneytalksnews.com