In an era of extremely low interest rates, is paying off the mortgage early a mistake? Or could it be a wise financial decision to be completely debt-free?
I think most of us would agree that money gives us security. With enough money, you don’t have to fret about the little things, and you can freely make spending decisions.
Shortly after I graduated from college, I felt ready to buy a house. I was earning a decent paycheck, I planned to stay in the area for the foreseeable future.
If you’re thinking about taking on a few roommates, especially if they are all men, I’d encourage you to contract a regular cleaning service. Otherwise, you run the risk of your place morphing into a frat house.
It was an easy decision for me. I have always hated debt, so I wanted the shortest loan possible that I could afford. Plus, I had plans to make extra payments each month to pay it off more quickly.