bluesince76
Well-Known Member
But not the mortgage, he's talking about credit cards, pay day loans etc.Biggest debt you will ever have , you are paying huge interest on it , pay it off asap , huge weight off your shoulders and you can save the same amount each month instead, martin lewis always says get rid of your biggest debt first
In pure economics terms and over a long enough timeframe, you're almost certainly going to be better off investing than paying off the mortgage, even at current mortgage rates. But pure economics ignores that we're human with feelings. I'd therefore say balance it - you don't either have to just pay it off or just invest, but for most people paying it off will make them feel a lot better.
Below is a view from an actual qualified financial planner to add to the decision.