The first one is simple and you should already have bi-weekly or weekly amortization to reduce the number of years it takes to pay off your mortgage but increasing your monthly payments may not be that easy for you.

You are already strapped for cash and when you actually do have some money left at the end of the month you spend it on something else.

What if I showed you a way YOU can pay off your mortgage in less than 10 years - Would you be interested?

OK, here are the steps to take...

1) You must review your credit report before you apply for a mortgage. Most lenders use Equifax credit reports so make sure you purchase your credit report with a credit score from Equifax.

2) Refinance your mortgage to lower your interest rate, pay off credit card debt and change your payment frequency to accelerated weekly.

3) Transfer your credit card balances. If you are not able to consolidate all your credit cards into your new mortgage then transfer your remaining balances to Capital One Platinum MasterCard at Prime - 0.9% (limit up to $50,000).

4) Your payments are now be lowered by as much 50%. Take most of your savings and contribute it to your RRSP on monthly basis. Each year you will receive a huge tax refund from your tax man because you invested into your RRSP. Use your tax refund to down pay your mortgage using lump sum privilege. Don't use it for anything else!

5) Start this home based business so you can enjoy all the tax saving benefits self-employed people do like deducting your mortgage interest, property taxes, utilities, maintenance, car expenses and other business expenses to further reduce your income taxes in order to increase your tax refunds. Use your extra monthly income from your home based business to increase your mortgage payments by at least 15%.

Follow these 5 simple steps and you will pay off your mortgage in less than 10 years and you will create $250,000 + in your RRSP at the same time.