You’ve paid off all non-mortgage debt, saved a full emergency fund, you're investing for retirement and maybe even saving for your kids’ college. Now it’s time for the next big milestone: paying off your home early.
Why this step matters
Baby Step 6 is all about eliminating your biggest remaining debt, which is your mortgage. Once that is wiped out, your income is fully yours to build wealth, give generously, and live with financial peace. Imagine what life would feel like with no mortgage payment. No debt. Just freedom. Sweet, right?
What does “early” mean?
With intentional focus, many people pay off their home in 10 years or less. It’s not a fantasy. It’s what millionaires do. You’ve already built financial discipline through the previous Baby Steps, and now you can use that same focus to tackle your mortgage.
How to get started
Continue budgeting and tracking every dollar.
Apply any extra margin, bonuses, raises, or side hustle income directly toward your mortgage principal.
Consider refinancing only if it shortens your term or significantly lowers your interest rate.
The road to becoming a Baby Steps Millionaire
Paying off your home early is a major step toward becoming a Baby Steps Millionaire. With no debt and no house payment, your ability to build wealth and give generously goes into overdrive.
With EveryDollar, you can stay on track by setting goals, tracking progress, and staying motivated along the way.
Pro Tip: Keep paying off the house as its own Baby Step instead of lumping it in with your consumer debt. If you try paying it off along with the credit cards and student loans, it will hold you back from creating your fully funded emergency fund as well as investing.
Next Steps
Learn more about life will be like when you hit Baby Step 7 and can live and give like no one else!