Let’s say you have some extra money available each month. Should you pay down your mortgage more quickly, or invest that surplus? Or maybe you have an inheritance coming – should you pay off your mortgage or invest it? It’s a question which isn’t easily answered, because maths and emotion are often at odds.
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In this session you will discover:
- The pros and cons of paying off your mortgage early
- The pros and cons of investing for the future!
- How inflation works both for and against you
- The one big argument in favour of NOT paying down your mortgage
- And the one big counter argument to that!
- How much I am paying against my mortgage and paying into long-term investments
- Why you should be glad you're not like Mr Spock
There are lots of elements to this choice, and many you may not have thought of. We tend to get swayed either by our innate desire to pay off debt, or by our desire for adventurous, unknown futures. Well, some of us anyway! For the full run-down, click the blue button below.
Resources mentioned in the show
Getting Started pages here on MeaningfulMoney
Learn How To Budget course on MeaningfulUniversity
Pay off mortgage early or invest post on FinancialMentor.com
For the cheatsheet I mentioned in the show which summarises the pros and cons of each route, click the big yellow button below:
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My thanks to Chance Last AKA Ruth for her review this week!
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