Mortgage Account Finances

I've come up with a brilliant idea. So I started the refinance process on my mortgage to bring down my monthly payments. I'm pretty happy with where they'll be for the next 30 years. But I've come up with a concept, at least, according to my outside influence, I've come up with it on my own, but it could be a concept already.

If I'm generally tight on finances, even with considering my mortgage payment is a lot less than it was, if I saved up in a dedicated account, enough for one mortgage payment, it would be like, after months of saving, it would be a huge release of pressure on the burden of paying mortgage that month.

If my mortgage payment is (fictitious amount here) $1200 a month, which includes all taxes and escrow, etc. Let's say I want that magical burden-lifting event to happen twice a year. I guess logically (although I came to the number in a different way) you'd multiply that mortgage by 2, to get $2400. Then divide that by 52 weeks in the year. I simply did $1200 / 26. You'd get 46.16, rounded up to the nearest penny.

$46.16 is the amount that you have to put away each week in order to have $1200 in a savings account after 6 months, that you can transfer over to your checking and use to pay your mortgage that month. Then it's like getting a cash injection. As a bonus you'd also have some extra cash in there due to interest accruing on that account over 6 months!

Obviously this isn't a long term savings plan. You'd be doing those as well on the side. I've got betterment for that. This would just be an extra account in my bank that I auto transfer $46.16 to every Friday (in my case). But I'm also transferring money to my investment accounts at the same time. It might be the reason I'm a little tight in finances, but in 6 months, that will be amazing to have that extra injection of cash!  :)  I don't do finance, just computers, so I don't know the terms for this type of financial strategy, but there probably is one.

Happy Saving!