No Brainer YNAB serves a great purpose, Free up some Extra cash!
Whether you are an aspiring Landlord, a novice in landlording or you are a seasoned real estate tycoon, YNAB, would suit your purpose in all the three scenarios.
|You are an aspiring investor||You need a budget to save or add to your down payment for your first property|
|You have just become a landlord||You need a budget to start saving for your next project|
|You are a seasoned landlord with big portfolio||You still need a budget for your vacation and leisure activities!|
I’d strongly recommend this tool. Everone loves Extra Cash. I can’t think off any way this won’t help to you free up some extra cash month-by-month. It costs you just $7 a month which is superbly cheap against the potential savings which you are going to make!
Go for it! It’s free for first 34 days…Try it out.
However, bear in mind, When we get something for free, we tend to take it casually. Refrain from doing that in this case, because you’d lose a great opportunity for lot many things which may come your way because of this one app.
Lend the extra cash, freed up by YNAP use, to your own property!
This is a great way to save even more than what you would save by keeping track of your expenses.
I am suggesting you to keep paying money created by checking your expenses towards your existing mortgage. Most of us don’t know the power of pre-payment and how much interest one can save by doing so.
For an example, if you keep paying $100, freed up cash, along with your installment, towards your existing mortgage of $300K (borrowed at 3% for amortization period of 25 years)
What would happen?
This action of yours would save you more than $12000 in total interest cost and your amortization would be reduced by more than 3 years!
We have also discussed some other programs on the subject of personal finance.