Title: How to Pay Off a Loan Faster: 3 Key Strategies
Headings: How to Pay Off a Personal Loan Faster
How to Pay Off a Personal Loan Faster
Jump ahead
1. Cut a few small expenses in your budget
2. Boost your income with a side job
A note of caution
3. Use windfalls to your advantage
It pays to knock out that loan principal sooner
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Content: Terms may apply to offers listed on this page. Whether you owe money on a personal loan, an auto loan, or a different type of loan, the sooner you pay it off, the less you'll spend on interest. And those savings can really add up over time. Plus, there's something to be said for shedding your debt and not having another monthly payment hanging over your head. Most lenders don't charge a prepayment penalty for paying off a loan early (though some might -- be sure to check with your lender). If you're looking for how to pay off a loan before the end of the loan term, even by the end of this year, here are some tips for speeding up your repayment plan. Jump ahead
On this page: 1. Cut a few small expenses in your budget
2. Boost your income with a side job
3.