Slightly off-topic but we paid off our house (and ALL other debt) and it feels great. I can't overstate how emotionally and psychologically freeing it feels to be debt free. I just wanted to encourage anybody who is considering getting aggressive with your mortgage to do it. (It took about 12 years from when we purchased the house.).

Friends often asked me should they get a 15 or 30 year mortgage, I often suggested a 30 and pay it as a 10 or 15 year. If they hit hard times they can always fall back to the 30 temporarily avoiding loosing the house if they can’t maintain the 10 or 15 year mortgage. Interest is a little higher but they have a safety net.

I paid my $225,000 mortgage in 6 and a half years making double monthly payments. One straight to principle and the other just regular interés plus principle. Plus once a year my tax return will put it all as principle payment. It’s been the best investment I made. Now I have a ton of leftover money which I’m rolling by maxing out my 401k. It can be done but it requires discipline

Some great advice here. My wife and I paid off our house 112k in seven years from 2002 to 2009. Good luck to all that are trying to make this happen. Just takes a lot of determination and thick skin when your coworkers clown on you for your flip phone and rusty ford fiesta.

There's no right or wrong way to do it. Everyone's circumstances are different. For me, I bought a house "late in life" and wanted to be mortgage free before I retired. I got a 15 year mortgage and paid it off in 8 years while still living comfortably. Now, in retirement, I don't have that payment hanging over my head. I only have to put aside enough for taxes.

My wife and I paid off a 200000 mortgage in 11 years by just doing the above. We had a 70000 income and put more than the minimum into the principle. We paid off our credit cards first, lowered our interest rate on credit cards and mortgage when rates went down and put bonuses, and what we were paying in interest to the mortgage. It took discipline but in a 11 years 3 months we paid off our house.

I paid off 3 rental properties in 7 years just by using any leftover income to aggressively pay down the principal. It got easier after the first property was paid off. My reasoning was that if I paid off a property I would not only save a huge amount of interest but I would always have a roof over my head. Peace of mind.

Whoever was doing the presentation to which Schmidt refers was paying THEIR mortgage off early (assuming they even had one!) with the fees people paid to see this debnked presentation!. Old school works best. Live within your means and put everything extra toward the mortgage. Not having a mortgage payment in retirement makes the effort worth every bit of sacrifice!!

I'm glad sombody finally shined some light on this topic. I have seen several of these videos on paying off mortgages and they never made practical sense to me. I paid mine off by adding principle payments each month, now that really works! Thank you!!

Right you are. Paid off a 30 year note on our acreage in 12 years by paying extra each month applied to principal. We purchased in 1985 at an interest rate of 11.25%, and at the time thought it was a great rate since it had been at 21% a few years earlier. When we first received the amortization schedule I looked at it and thought screw this when I saw how little was applied to principal, and how if I applied more to principal I could knock out months of payments with the extra I payed each month.

Thanks for putting the time to make a video like this. Hopefully your videos help others achieve more financial freedoms sooner.

Taking in a roommate is a great idea, but every time I bring it up I get the cast iron pan on the noggin. I hate that!

There might be an economical turmoil but there is no doubt that this is still the best time to invest.

I saw the presentation you're talking about, and afterward i recreated her method vs a traditional method (just making extra payments) using Excel and both options came out about the same (her method was a bit longer). The reality is that the only way to pay of your home early, is to make extra payments on the principal. The unfortunate thing about her method is that it puts you at risk by carrying extra unneeded debt. One slip up and you end up paying interest and fees. It's also confusing, so if you don't really understand it, you could definitely lose money in the process. Reminded me of gamblers math. Or even better - companies that like to rename job descriptions and office titles and do re-orgs. All the shuffling around feels like you're accomplishing something, but you're really not. Thanks for the video, just subscribed!

Great Idea. Thanks for all your time and effort!

Good video teaching people there is no financial magic. I've been in real estate for 17 years now and I've heard all the bull, this guy was preaching realism. I would even say it's not a great idea to have a $200K mortgage on a $60K annual household budget unless you have a very low interest rate and even then....I'd like to find that other video, it sounds like I'd be laughing the whole way through, LOL. Personally I'm a big fan of 15 year mortgages and I also pitch them as an option to my buyers. This may also require them to buy a cheaper house, but it sets them up for better control over their debts and finances.

This video is so sorely needed. I have commented on several of those shills' videos, asking them to spreadsheet it out, show the actual work. Of course they don't respond, and their videos never do such a thing. Most maddening, is their use of scary phrases and misapplied terms to make it sound like a mortgage is some mysterious devil out to get you. "They front-load the interest," e.g. One of my other favorites is when one of them claimed a HELOC uses "simple interest," like that made it superior (not only is that no true, but simple interest is most definitely a tool used to make a loan more expensive, or at least, makes the borrower less able to reduce it (which is what makes a mortgage able to be overpaid/paid off early). In the end, they're just absolute crooks taking advantage of people's lack of knowledge.

I wasn’t aware that the greatest benefit of paying the extra principal is had in the beginning years of the mortgage. Great video.

I started making my mother's mortgage payment a few years ago. Step one - round up. I made the payment 67 dollars more make it a round number. Step two, make extra payments. In the three years I have had it I have paid more principal then she paid in the previous 10. 94k left to go. My home is paid for. Hopefully hers will be soon as well.

I really appreciate that my mortgage lender lets me preview altered amortization tables projecting the impact of additional principal monthly payments

I love this guy's dry bitting wit. Best video I've seen on this subject.

The richest 5% don't do stupid financing tricks, That's how they got to be in the top 5%.

I'm closing this Friday, and while I knew some of this, a lot I didn't fully understand. This is definitely very helpful knowledge to come prepared with. Thank you!

10%+ inflation. 3.5% mortgage. It is totally foolish to pay off a mortgage and you lose money every single day by doing so.

Thanks for this! These things are not taught in school🤦🏾‍♀️🤦🏾‍♀️. This might just save me years of wasting money 🙌🏾🙌🏾🙌🏾

Excellent information, the only thing I would add is simply that as you search around and as you take your time to make the final calculation, you might as well just throw some money in right right away. That is if it's going to take you 6 months or 3 months to finally make a final decision, take an amount that you're comfortable with right now and throw it against your mortgage payment this month and next month and the month after until you lock and load. That will cause you to become motivated to come up with a better number, and it will get you off the dime which is probably the biggest point made in this video. Start it now!

My goal is to pay off my 30 year mortgage in 3 years. I made my first mortgage payment on 2/1/21 and am on track to have paid off 11 years when I hit the one year mark. I'm fortunate because I've done some things that have made this possible. I got rid of my car in 2008 and ride a bike everywhere including to work. This allowed me over the course of the next 9 years to pay off all my debt before buying my home. The next thing I did was buy a small home which means a much smaller mortgage as well as smaller utilities and property tax. With a small mortgage every bit of extra paid in has a bigger impact. I view most things in term of mortgage payments. When I am considering buying something I think about if it's worth a month of mortgage payments. Sometimes I chose to buy the item anyway but if I decide to not buy it, then I put the money I would have spent towards my mortgage. I'm frugal but not excessively so. I just keep very focused on my goal and know that when three years is up I'll have more money to spend without a monthly mortgage.

A friend of mine that bought her house in her 20’s fell trap to these “methods” the guy here is talking about. She thought she was so smart, but after 6 MONTHS of doing this, her credit card company drastically reduced her credit limit, and since she was at a consistent 100% credit utilization, her credit rating was in the tank. She couldn’t refinance. She wasn’t listening to us when we told her instead of taking vacations every few weeks, put that money towards her principal of her mortgage. New home owners eventually figure this out.

I'm lucky and happy to say that I've already paid off my mortgage. 👍👍👍

If you pay towards Principal, make sure you are clear that it's a Principal payment. You can write it on the check or in the payment notes. Banks will apply your additional payment to the loan, if you don't say anything. This is not the same as paying down Principal. Also, go to an amortization website to check the bank's math. They're usually correct, but I have had the bank make a mistake (they applied the payment to next month's mortgage instead of to Principal). Once I pointed out the error, the bank corrected it immediately.

Good info & well presented! I spent 40+ years in accounting & mortgage finance. I have watched on KZfaq several of these pay off your mortgage in rapid years type of presentations. Most are (as you pointed out) not reality. They really have no idea what they are talking about. I hate seeing so many people getting not just bad info, but false info. I show my clients the power of adding just $25 a month can take ~18 months off the length on a 30 year mtg. Add $100 a month and you'll take ~ 5 years off. (based on a 30 yr fixed @3.5% on $200k ). Also by adding $25 per month in yr 1 and another $25 per year every year for 5 years ( take small steps) you eliminate a fair number of years as well. Continue if you can but make your dent in the beginnings.

This presentation is sound in principle, but it’s been a hot minute since 30yr mortgages were 6%. Especially after you figure in that the interest paid is tax deductible, and mortgage rates are more like 3%, there are better things you can do with that extra money.

I pay my 19 year mortgage into 5 years, 19yrs principal left divided by 5 = $$$ ...then I work two jobs and live super frugal to come up with that $$$ plain and simple, no magical tricks, this is how you do it.

Realistic advice. Thank you.

Hmm, looks like we did it the hard way: 2 full time salaries, no cable, no internet, no cellphones, no vacation, no lattes, no restaurants, brown bag lunches, public transport and only one car. My wife’s salary paid for the daily expenses, my salary went into the mortgage (all of it). Paid a $200,000 mortgage in 4 years, 7 months. The last payment 25 years ago. It was a variable rate, no maximum payment on principle. Started at 7.75% and actually went down to 4.5% by the time we were done.

I do the credit card strategy, but only when offered a balance transfer at 0% interest for 12-18 months, with only a 3% transfer fee. I’m able to do this in 20k chunks. Plus I pay 1k a month extra into principle on the mortgage. I divide the credit card balance by 12-18 months and make sure I pay at least that amount every month in order to pay off that balance by the end of the year. I’ve been doing this for about 2 years. This method helped me pay down ALL my debt and I should be done with my mortgage in abt 3 more years. I only use that one card for balance transfer and I use another card with great rewards for purchases.

The last 10 seconds of this video are a HUGE deal. The extra payments at the beginning make a lot more impact than later. An extra $100 in the first month can save multiple hundreds over the life of the loan. One way I've motivated myself is to divide the interest I pay each month by the days in the month, so you can see how much interest you're paying per day. As you make extra payments, you see that number drop, and you feel like you're losing less per day. On one of my car loans (which is similar, at a smaller scale), I eventually paid it down where the interest was less than a quarter a day, which kind of killed my motivation to pay it off any quicker, because I knew I was losing so little to interest each day.

great info thanks

Actually, my credit cards will not charge you interest if you pay it off in full each month. But, the version of this program I saw (and use) uses a HELOC, not a credit card to do this. Take half of you HELOC and use the money to reduce the principal on your mortgage. Deposit your paycheck to reduce the HELOC balance. Use your credit card to pay your monthly expenses. When the bills come due, pay them IN FULL (no interest) from the HELOC. As long as you are making more than you're spending, you will reduce the HELOC to zero, at which point you can start over again. Take half of the HELOC amount and pay off some of the principal again. We used this method to pay off a 15 year mortgage in 10 years.

Great video , thank you . If you showed some before , during and after's using the on line calculator ( video) , the savings !!!!! It might encourage a greater number of family's to step into debt free housing , way before retirement :)

We paid the mortgage every 2 weeks, payday, and paid only $12.00 extra principal each payment. However, paying every 2 weeks meant 13 payments per year (instead of 12). In addition, bonus or tax returns went to principal. A 22 year mortgage was changed to a 10 mortgage after 10 years (cut 2 years) and then we paid the newest 10 mortgage in 7.5 years. Debt free now.

About 3 years ago we started putting an extra $700 a month towards the principle. And looking back at where we were until today the snowball has grown and still rolling baby! Hopefully a few more years and we should be done

Jeff, very informative and made easy to understand. Thanks!

Everything he is saying makes sense. There are a lot of " gotchas" when it comes to finances. Credit cards, refinancing mortgages etc. Credit cards are not necessary. To live within ones means it takes discipline and a plan. Anytime someone giving financial advice to use credit cards for financial planning RUN away. Having a comprehensive financial plan that addresses retirement and insurance planning, debt elimination and provides financial coaching from start to finish is the biggest foundation for financial freedom.

That first example he gave is absolutely insane. That would never work

My mom and dad paid off their mortgage in less than 8 years. My dad was cheap (vice) and my mom was thrifty (virtue). She scrimped and saved and made either double or triple mortgage payments until it was paid off. Meanwhile, my next older brother and I were born, so there were four child mouths to feed. The purchase was back in 1950, paid in February 1958, and my dad had a stroke the following month. He was able to return to work for another 10 years, which was very fortunate for our family.

The amortization process has to be in the top 5 most important things that is taught in schools. Do not sleep through that topic.

We pay about an extra $300 each month on our mortgage. I did not check to see what the result would be. I just know it is the smart thing to do. Thanks Schmidt.

Paying off a mortgage early when the average loan is at 3.5% really depends on your age. If under 45 years old, it's wiser to put the money in the market and benefit from compounding interest. If over 45 years of age, it starts to make more sense to start making payments to principle, and time it so you don't have a house payment in retirement. I bought a house for $200k at age 53 and paid it off in 7 years. I never stopped putting cash in the market also, just decreased it. Now I am back to maxing out my Roth 401k. The strategy really depends on your age.

Yep..started aggressively paying it off in year one. Bought in 2020...End of 2021 I have 14 years left on a 30 year...I plan to be done mid to late 2023. You have to start within the first 5 years in my opinion.

We did triple monthly payments for the first year, then tapered to double payments for the next couple years. Always paid extra on monthly payments. Got mortgage gone in 6 years. Not buying a 1/4M dollar house also helps too.

The number one topic that should be address is, if you only make $60k a year... Don't buy a $200k mortgage!!! Also, "snowball" your debt, AND save 20% down before looking and buying a home. When looking for a home, although the mortgage company and realtor will encourage you to buy a larger, more expensive home with a large mortgage. But consider your down and how much you can afford each month × 12 months =____. X 7-years to consider how much you can afford in order to pay your home off in 7 year.

I am about 5-6 years from retirement. Recently bought out my former spouse from our home. Had to refinance to do so. Took no cash out, lowered the interest rate .5%. I am making an extra $1000/month payment (picked up a part-time job) and will have it completely paid off in that time frame. Won't be a millionaire when I retire, but I will be COMPLETELY debt free. So, I am putting in the extra $$$ and time now to be able to live comfortably later.

At today's interest rates, it doesn't make sense to pay off your mortgage early. You are much better off taking the extra money you would use to pay down principle and invest that into your retirement account. If you are paying 3% interest on your mortgage and you are earning 9% on your retirement account, you are netting 6%. If you pay an extra $500 per month to pay off your mortgage in 15 years, on a $155,000 mortgage, you will save a little over $50,000 in interest. If you invest that extra $500 per month at 9% earnings, after 15 years, you will have about $190,000. You are gaining $140,000 by investing it rather than paying off your mortgage early.

Money saved on interest is money earned. In other countries there are double digit mortgage rates, so you get to redeem your capital sooner when you pay extra.

I paid off my 30 year mortgage signed in 2011 in 8 years. Side-gigs brought in extra income that I plowed into principle. I understand the argument about putting the money into the market but that's like the lottery. Back in 2011 there was no idea if another 2007/2008/2009 kind of collapse wouldn't happen again. I invested plenty in the market regardless through my primary job and employer contribution and now I am putting 17.5% of my base salary into my 403b.

This video was inspiring. Thank you. It gave me some ideas. Room-mate, extra job, some of emergency fund towards principal maybe. I need to do the math. Thanks, Connie Smith in Salt Lake City, Utah👍🏡 I enjoy your videos.

I looked at all of the pay off your mortgage in 5 years videos with all of the credit card and secondary loan tricks. They didn't add up. It did get me to start researching mortgages, how they work, and how they can be paid off faster. I refinanced my mortgage in 2011, and without realizing, pushed my mortgage back out to 30 years. It was a mistake I made being ignorant as to how mortgages work. I was blessed with extra income late last year. Instead of absorbing that money into my budget, I decided I was going to pay off my mortgage in 5 years. I spent weeks researching and calculating. I made the decision that I was going to do it. I started using that income and tightening up my existing budget a LOT to start making principal payments. I avoid unnecessary shopping. I go to the store with a list. I never go to the store when I am hungry. This cuts down on impulse buying. I started this plan in October. I am happy to say that I am currently at 3 years and 9 months left on my mortgage! I am still living comfortably, and STICKING to the plan. It CAN be done the RIGHT way. No smoke and mirrors, just make a plan, and stick to that plan. Thank you for your informative videos.

I'm not an expert by any means. But when your interest rate is super low like they have been, it make no sense to pay off early. It's basically the cheapest money you'll ever be ever be able to borrow outside of maybe a vehicle. You'll get a much better return on investment putting extra money in the market, generally speaking.

Excellent advice. Please emphasize that the extra payments should clearly state that they are for Principal payments only. If you don’t make that clear to your mortgage holder, they will apply to the interest as well, which is not helpful.

The perso that drives around in a 20 year old car is a smart person.....Remember that

"The richest 5%" probably do not carry balances on 21% credit cards. There are schemes presented that claim that multiple balance transfers can be kited from one credit card to another to another ad. infinitum at zero interest but I think the banks would get wise to that.

This appeared in my home feed and looking at just the start I swear this guy is gonna start saying 'better call Saul!'

There are first position HELOCS that don't do the credit card merry-go-round but you certainly need a positive cash flow and strict discipline to make it work. These HELOCS work like a gigantic credit card so you need to pay interest (higher than traditional mortgage) plus principal. The more principal you pay off the less compounding interest is on it. 1st position HELOCS have a built in checking account. Problem with these are higher interest rates and banks can freeze them as Wells Fargo and BOA has done, and banks can call them. Most are variable and tied to Prime so you will see increase of P&I.

Paid off our home in 2 years. Lived on my wife’s paycheck and all of mine went toward the mortgage.

We paid ours off in 10 years. We had a 15 year loan and paid extra

No No No No!!!!!!! Just like all the other commenters I paid off my mortgage by aggressively paying extra on my mortgage principal. Never use credit cards!!!

You can use a credit card to pay down your mortgage. However, it would be better to pay that credit card off. If you can get a personal line of credit, you can use it to chunk down or completely pay that credit card off instantly. Credit cards and lines of credit use simple interest which is calculated daily. All loans use amortized interest in which the majority of that interest is paid up front, so even though that interest could be 6%, in reality it is more like 120%. By using lines of credit you save thousands in interest. I have personally saved over 100k in interest and reduced my loan term by 10 years in 14 months. Don't let no one tell you it can't be done because they don't know what they are talking about. You can do it and still enjoy your life.

When you pay off a 30 year mortgage, you feel like a member to an elite club!

Paying off a 3% interest loan early is just poor financial management. Just about any investment will net you greater than 3% yearly and you get the mortgage interest tax deduction on top of it.

Using a HELOC is doing with Velocity Banking and paying off your mortgage faster. But again, what it really takes is large free cash flow after expenses. As you have said 3 - 2 always = 1

In today's world of 50 % divorce rate, paying off house early can also expedite the divorce. The spouse paying the mortgage, once the mortgage is paid in full, this spouse is no longer needed especially in 2 income households. If children involved the custodial spouse gets the free house to live in with children , her salary from her job, child support and the idea of income from a future boyfried she may all ready have in the wings. Sorry to say this is not hypothetical.

Paid off my mortgage last week! One thing to remember on extra payments - make sure the entire extra payment goes to the principal. For example - I had my mortgage payment pulled automatically from my account. When I made my extra payment, I chose an amount just under the regular payment amount. This way, that amount all went to principal. The mortgage company didn't think I was making another monthly payment - and disbursing that amount into my escrow account, etc. Just my experience.

What if you pay your mortgage plus principal or interest? So each month, you pay your monthly plus whatever the principal or interest is for that month? Wouldn't that be an easier way to pay it off faster?

Great information, Geoff! Using your method, my husband and I paid off our 30 year mortgage in less than 15 years. Thank you!

We pay about 8 or 9 hundred extra each month against principle. May not pay off in five, but should pay off in ten or twelve.

How can I make a spreadsheet like the one you have in the video? I would love to get my numbers organized to try this out! Thanks

$45k/30 years @6.25 %. Paid off in 11 years by adding $200 to principal monthly from day 1.

Most loans are designed to work for the bank. I have a very specialized 1st position Heloc on my home that’s tied to a zero balance sweep checking account. Every dollar I deposit sweeps directly towards my outstanding balance, I’m charged simple interest based off my daily balance, so month over month the loan gets cheaper and cheaper. It’s by far the most efficient and flexible way to finance a home that I’ve ever seen. Beats extra payments on a conventional mortgage, because you get a snowball effect and you retain access to every dollar. It allows you to be hyper aggressive, but it just feels like you’re doing your regular banking.

People cannot compute interest and compounding. This is why so many fall for higher-rate line of credit as a way to pay the mortgage.

We lived on wife salary and put my whole salary on the house.Home is paid off no bills at all.Nothing fancy or complicated team work and determination.

Paid off house in 5 yrs and built new one .Using paid off house for Airbnb and some extra income

Paying it off is good, but a mortgage is still theft.

Paid off a 30 year mortgage in nine years, made a 200 Dollar principal payment each month.

First thing to do is CUT UP THE CREDIT CARDS!

I am in the middle of refinancing my home I am currently in a 30 year fixed @5.25% 10 years down, and down to 124k... looking at a refinance at 15years fixed rate of 2.37%, adding closing costs to the mortgage bring my total up to roughly 129k... now nearly every spring I get roughly $4-6k in tax returns back.. with the old mortgage I was looking at a $6000 in interest per year.. with this new refi.. I'm looking closer to $2000 or so... would making a one time $2000 payment at the beginning of the year toward the interest make that much of a difference in my term? or help me knock down my principal faster, thus reducing next years interest, and lowering my principal faster? I had always though doing biweekly was the faster way to knock down a mortgage, and any extra you could add would help later on... I am looking at retiring from my job in less than 16 years, and would like to have my mortgage paid off ASAP to make those final years all about putting into my RothIRA, and Deferred comp 457k plan. my other income will be state retirement.

Velocity banking actually does work because when you're using a credit card and you put your income on the credit card to hold it there instead of your checking account you're keeping your interest down on the credit card until you gradually take it out for your expenses. As long as you have a positive cash flow you had on the credit card and on the mortgage. I've used it to an extent to keep my interest rate down credit lines and it absolutely is helpful. Besides a 21% interest credit card is actually less expensive than a 6% mortgage because the mortgages amortized. You're not paying 6% on that mortgage you're actually paying at least 50% sometimes more! So you are in essence buying a second house by the time you're done paying off your thirty-year mortgage unless you pay itoff early ! So you are in essence buying a second house by the time you're done paying off your 30 year mortgage unless you pay it off early. Additionally the point of velocity banking is that you don't have to come up with that extra $2,000 a year to put on your principal. You're using a credit line to do it instead of changing your lifestyle scrimping and saving, eating rice and beans, taking in a roommate getting a second job. Etc etc.. the strategy was actually developed in Australia we're people would use their home equity line of credit books of money on their mortgage and pay it off early. It's a pretty standard thing there that once you have equity in your home you get the home equity line and you paid on your mortgage. People in Australia on their homes much sooner less expensive than Americans do because of this.

I watched that lady’s presentation. I couldn’t comprehend it.

By living cheap, I’m able to do additional principal payments each paycheck. Got a late start because I didn’t want to overextend. But it should result in a 9.5 year payoff.

You are a great presenter, thank you, you always make sense to me. I really appreciate your knowledge and your willingness to share. For normal people, who don’t have a lot of money, I thank you.

Who has an emergency cash fund???? Most people who have a mortgage have it because they can't afford to buy a house. The only way to pay it off early is to make more payments, which most of us cannot do.

We refined our MTG at 10 year term forced savings was best decision ever!

I actually have a friend that got roped into this and tried to "convert me". He lost his house and I paid mine off in 16 years.

Question when you use the mortgage Calculator and get the amount you pay. This that your new payment or is it add to your old payment?

That whole credit card thing is just STUPID.

Do pay off credit cards and car payments first. Then pay off the house.

If you're paying credit card interest, you're not doing it right. If your total spending is more than 90% of your income, you'll never get there. Pay off highest interest 1st! Period. Only then, start paying additional amount on the mortgage principle. If you can make more by investing that extra amount than the int rate on your mortgage, invest. I've been using a similar spreadsheet for years. If I'm thinking about making a change, I plug it into the spreadsheet and see how it affects the total interest.

We have a 30 year mortgage. Our plan is just to put our tax returns on it every year. We won't be starting that until next year though because this year we are building up our emergency fund. Based on mortgage calculators we have used, it looks like we can pay off our mortgage 16 years early this way.

The first thing to do is get rid of the balance on your credit card.

Borrowing on a credit card can be very risky. I've charged large expenses 3 times on 0% intro cards. 2 heat and air units and a roof. It took me 4 months of working overtime to pay off the roof. I got very tired and it's not something i want to do again.