Totally get what you're saying about lump sums feeling more satisfying psychologically—seeing that principal drop is a huge motivator. Have you considered splitting the difference though? Maybe bumping your monthly payment by just a small amount consistently, while still throwing in those bigger chunks when bonuses roll in? I've seen people shave years off their loans just by adding an extra $50-$100 each month...might be worth crunching the numbers to see how it looks for your situation.
I see your point, but honestly, I've found that psychologically, those small monthly bumps don't always feel impactful enough to stay motivating. A friend of mine tried adding just $75 extra each month, and even though the math worked out great on paper, she said it felt like barely a dent in her loan. Eventually, she switched back to lump-sum payments from her tax refund or bonus checks because seeing a bigger chunk disappear all at once gave her more momentum. Different strokes, I guess...
Yeah, I get that. I tried the small monthly approach for a bit, but honestly it felt like tossing pennies into a wishing well—didn't really feel like progress. On paper, sure, every penny counts, but psychologically, it's a drag when you're barely seeing the needle move. Now I just stash away cash whenever I can and drop bigger lump sums once or twice a year. Feels way more satisfying to see chunks vanish instead of trickles, haha. Whatever keeps us sane, right?
Totally feel you on the lump sums. I remember when I first bought my place, I was doing the whole drip-feed approach too—felt like I was barely denting the thing. Then one year after a decent bonus, I dropped a bigger chunk, and man, seeing that principal number actually budge was so motivating. It's funny how much of this is psychological rather than just numbers, huh? Whatever works to keep the momentum going, I say.
Yeah, lump sums definitely help psychologically. When I first bought my place, I was stuck in that interest-only rut too—felt like throwing money into a black hole. Once I started making occasional bigger payments, it finally felt like progress... totally changed my mindset.
