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83. Iron Fisted Lucy

The Happy Saver Podcast - Personal Finance in New Zealand

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The Importance of Slowing Down Your Mortgage Debt

When John and I had a mortgage and a house that we wanted to do up because our mortgage had a floating component to it which is a portion that we could redraw on. Over the course of a couple of years eventually realized that we could save up and cash flow work so they ended up both getting out of a hundred and twenty thousand dollars of mortgage debt. Lucy's situation was a little different although even now they think they should or could have been mortgage free by now continuing to redraw on their lending instead of saving up.

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