If you pay half the amount every two weeks, by the end of the year you'll have made 13 full payments rather than 12. [substeps] Talk to your bank or lender about setting up a bi-weekly payment plan.
[header] How to pay extra toward the principal of a loan [title] Switch to bi-weekly payments. [step] Talk to your lender about possibly switching to bi-weekly payments rather than making full payments every month. Bi-weekly payments take advantage of the fact there are 12 months in the year but 52 weeks.