
Money doesn’t make us happy, but having money to spend on non-essentials allows us to do things that are enjoyable and fulfilling.
Vacation with family, traveling to visit grandchildren, and giving to charity are just some of the “non-essential” things we can do with discretionary income that make life more enjoyable.
Increase Your Discretionary Income
There are a lot of things people do to increase their discretionary income.
Increasing over all income by working more is one way to have more money to spend on non-essentials. A parent may work a part-time job to buy Christmas presents, a teacher may work in the summer to pay for a child’s summer camp, or a retired person may work part-time to for extra spending money. There are a lot of things people do to earn more money.
Another way to increase discretionary income is to cut expenses. Some people drive less by consolidating errands, some conserve on utilities, and some grow their own food. There are a lot of ways to cut expense and increase discretionary income.
Refinance Your Mortgage
Another way many people are increasing their discretionary income is by refinancing their home to reduce their monthly mortgage payment.
In a February 2013, CNBC reported that Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement, “On a $200,000 loan, that translates into saving about $3,600 in interest during the next 12 months.”
Refinancing your mortgage can save a lot of money every month that can immediately be added to your discretionary income, and give you many more options as to how you spend your time.
Can You Save Money By Refinancing Your Mortgage?
To find out if you could save money by refinancing your home, you can check these online resources:
- Refinance Mortgage Calculator | Can You Save Money By Refinancing?
- Refinancing Could Save You A Lot Of Money
- Refinance To Save On Your Monthly Mortgage
- How To Refinance Your Home Mortgage
If you think refinancing may benefit you, contact us for help. We’ll be happy to review your particular circumstances, and show you your mortgage refinancing options.

The Marimark Mortgage Newsletter will keep you informed with important events in the mortgage industry that could impact your finances.
We especially focus on ways to save money on your current and future mortgages. And, we continually share the information we share with our clients, because we believe informed consumers are the best consumers.
Real estate agents, and other professionals in the industry, will receive an ongoing wealth of information that will help them serve their clients.