It Doesn't Make Cents
It Doesn't Make Cents
Payoff mortgage early = bad?

Payoff mortgage early = bad?

We often hear about how important it is to pay off your mortgage ASAP. You might FEEL good by destroying that debt and completely “owning” your home, but does it make sense financially? Not always.

Paying off debt early is considered a “guaranteed return.” But what if you can get better returns elsewhere? Could you use the “extra” you’d put toward paying down your mortgage for other financial goals, like retirement, investing, saving for college, going on vacation, or reaching some other goal?

While paying off your mortgage early is a noble goal, it’s not the only way. In this episode, we tackle some of the realities—including the reality that not everyone lives in an area where home prices appreciate dramatically over time.

When deciding whether to pay off your mortgage early, remember to consider the emotional and financial aspects of this decision and be honest about whether it’s truly the right choice for you.

Here are sources for this episode on deciding whether to pay off your mortgage early:

Trying to decide whether to buy or rent? We like using the NYT’s calculator. If you want to avoid the signup requirements and potential paywall, also has a rent vs. buy calculator.

Thanks to J.D. Roth and Andy Hill for sharing on the podcast. Check out their stuff!

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It Doesn't Make Cents
It Doesn't Make Cents
Are you REALLY doing money wrong? Good news: you aren’t doomed to a lifetime of financial failure because you aren’t saving to buy a house, buy a TV with a credit card, or have student loan debt. Get away from all the “supposed-tos” and stop beating yourself up over perceived mistakes. Sarah Li-Cain, AFC® and Miranda Marquit, MBA, are ready to debunk prescriptive money rules and inject a little nuance into your financial life.
This season, we’re talking about the common misconception that debt is ALWAYS bad. We’ll dive into ALL THE THINGS. You don’t have to pay that mortgage off early. Go ahead and finance that car. We’ll also tackle the controversial aspects of debt. How much social debt are you carrying around? Are you really immoral if you have your student loan debt forgiven? We promise corny jokes alongside a whole lotta facts. We might even rant a little. Plus, we’ll show you how to use what you’ve learned to get your money to work best for YOU—no matter what some finance bro says.
Let’s talk about how money might not be what you think—and how you can use it to create the life you want.