Video of Woman Showing Mzansi How Paying Extra R500 Monthly on Home Loan Can Save Years of Money and Interest

• A woman has inspired many in Mzansi by demonstrating how a simple strategy can help pay off a significant loan faster
• By making small additional monthly payments of just R500 or R1000, she saved years of money and interest
• Netizens were intrigued by her game-changing repayment method saving thousands of rands

A woman has shared an effective cost-saving method to help South Africans find financial freedom.

Woman shows how to pay off a loan faster with small monthly increases

TikTok user @soulfairy3 posted a video of how to be financially free from years of debt. According to News24, financial freedom is managing your money instead of letting it control you.

Financial freedom is not owing the bank anything

This is why the woman says instead of paying only the minimum required amount each month, increase monthly payments by R500 or R1000, depending on an individual's financial capacity. Although it may seem like a slight difference, this additional contribution can make a significant impact over time.

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Watch the video below:

Netizens astonished by woman's game-changing debt repayment method

By adopting similar strategies and increasing monthly payments, others can also experience the joy of becoming debt-free sooner than expected. As well as saving a boatload of cash.

People flocked to the comment section to ask a range of questions regarding being financially free:

@ShirleyNdaba said:

"May we have this Excel spreadsheet."

@RodneyRalulimi commented:

"This knowledge is worth millions, thank you very much."

@Rhistohz said:

"Thanks. Can I do the same on a personal loan? Does it apply?"

@Thembani comment:

"Where can we get the template?"

@mattyschmid7 said:

"Where does one get a sheet like this?"

@Motswana21 commented

"When making extra payments, can you ask your bank to recalculate or leave it as is?"

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Woman shares genius money-saving hack on how to save R10 000 in 6 months for December, Netizens weigh in

In similar stories, Briefly News, a young woman shared a genius money-saving hack on how to save R10 000 in 6 months just in time for the festive season.

Her clever strategy shows people how they can find ways to stop spending unnecessarily and save where they can.

Netizens weighed in on her saving methods. While some praised her, others wished they had the extra money to save.

Source: Briefly News