🏘️PAY DOWN Your Mortgage 😍 OWN YOUR HOME and be DEBT FREE! πŸ’ƒπŸ½ (Personal Finance UK)

Published on May 24, 2022

Trending vids related to debt Consolidation Loans, Debt Tips, and Are You Considered Debt Free if You Have a Mortgage, 🏘️PAY DOWN Your Mortgage 😍 OWN YOUR HOME and be DEBT FREE! πŸ’ƒπŸ½ (Personal Finance UK).

Should we pay down our mortgages? When owning our home mortgage free outright makes sense?! Bit of a contentious issue with our homes being our castle and financial experts saying mortgage debt is good debt… but mortgage free is also nice, here’s why!!
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Time and time again, and in my own family and friends we see our homes being used as a cash cow. The leveraged returns are a beautiful thing for an investor and homes have been a great provider of this to home owners. However, the temptation to re-finance an extract equity as cash to then pay for extensions, holidays and cars is omnipresent and few people are in their homes the entire term to pay off their mortgage!

Now universally we can agree that holding high interest rate is daft. Credit cards, consumer loans and store credit come into this category make total sense. Likewise, in the UK not contributing to your pension and matching employer contributions and tax efficiencies is again silly. However, once you’re out of debt and have a nice strategy for retirement investing, there is the conception that rather than paying down mortgage debt we should put every dime into investing. The argument being that mortgage financing is cheap, and with a stock and bond portfolio we can generate 2-4x on money paid towards your mortgage vs investing.

Should you pay down your mortgage? Now the contra argument is after you have paid off your debts, have a plan for retirement then pay that mortgage debt down. If you can do it twenty, fifteen, ten, five years – do it!

Why should we pay off our mortgages? – well the arguments are more than pure financial ones…

πŸ“š Books Mentioned πŸ‘“
Grant Sabatier – Financial Freedom: Great book for us millennials to read 😎 https://amzn.to/3k5bbog
Yuval Noah Harari – Sapiens – Honestly such a great book and makes you think https://amzn.to/3l9dJTs

πŸ’° Finance Apps I Use πŸ’°
Trading 212 – UK Based Comms Free Trading Platform – we both get a FREE share when you sign up:
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YNAB – You Need A Budget – By far my favourite budgeting tool:
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πŸ“½οΈ Highlights πŸ’›
Renting vs Buying Your Home https://youtu.be/YjSsmgd_9eM
One from the Cringe Binge – DONT pay off your mortgage https://youtu.be/v-lq4-YsJo4
A collab with the 😍Anna 😍 on the Housing Market https://youtu.be/oje8r3xqJ4c

#PayOFFMortgage #Homeownership #UKHousingMarket

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Who is Fifi? πŸ’ƒπŸΎ
Hiya – I’m an engineer, consultant and mum to two toddlers living in London. I make video on personal finance, the economy and how to make better financial decisions!

Disclaimer:
These videos are provided for information and entertainment purposes only. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy.

Are You Considered Debt Free if You Have a Mortgage

Are You Considered Debt Free if You Have a Mortgage, 🏘️PAY DOWN Your Mortgage 😍 OWN YOUR HOME and be DEBT FREE! πŸ’ƒπŸ½ (Personal Finance UK).

How To Be Debt Free In 6 Months Or Less

Stage 1: You will be required to provide and carry out a contract permission to the company to act on behalf of you.
With the secured financial obligation consolidation loan, you can make your life debt-free.

🏘️PAY DOWN Your Mortgage 😍 OWN YOUR HOME and be DEBT FREE! πŸ’ƒπŸ½ (Personal Finance UK), Search most shared full length videos related to Are You Considered Debt Free if You Have a Mortgage.

The Method To Debt Relief Can Be Easy

This could be the loan on your house or vehicle. Owing money is like having an anchor connected to your ankle and dragging it around. Something as easy as an inaccurate credit line could be harming you.

There are two types of financial obligation the secured and unsecured loan. The protected loan are the for which you have to offer security to the bank. The financial institution can settle the arrearage by selling your collateral. The unsecured loan is the financial obligation in which financial institutions do not take the interest however any collateral rate charged is very high. The unsecured debts can be gotten rid of easily due to lack of authority for the creditor to recuperate their cash. This brings the negotiation part. Then lender can not do much lawfully to recuperate their money, if you are not willing to pay the entire amount. If you submit for personal bankruptcy lender still have alternative to auction your collateral and recover their cost, in secured debt. This part is missing in the unsecured debt.

So we understand that having unSecured Debt is not such a bad thing when compared to Secured Debt, however how do we tackle lowering eliminating it. Well, the single most reliable method is through financial obligation settlement.

The very first thing to do is make a list of all your monthly earnings. You require to consist of whatever so you have an honest idea of what you have to deal with.

Oh, oh, that is simply what I stated it is coming out of the pockets of the resident. Who would have believed that the basic public would be paying off the financial obligation of individuals that they do not even understand? Ouch, that hurt. Do not misery now, everything is going to be all right. Those in charge know simply what they are doing and they intend to keep right on doing it. They are offering away complimentary cash to those that they believe deserve it. Free government grants for debt relief are intended to make life easier for a picked couple of by providing an easy method of ending up being Debt Free.

Secondly, this kind of financial obligation most affects your credit history adversely. Since this kind of debt is most harmful and unpredictable – it’s called Revolving Debt due to the fact that it can change from month to month – it can really sink your credit rating. This can be a huge issue for your credit score if you have a high balance on your credit card.

Some may think about a “quick-fix” in the kind of consolidation. This involves taking a number of debts and integrating them into one big debt, typically collateralized with a home loan to enable a lower interest rate.

The truth is you will never ever become debt free unless you have the right path to successfully participating in the bankruptcy procedure. This is why it is so important to deal with a legitimate insolvency attorney. This would merely be the finest path to follow.

Taking a look at what your next-door neighbor has and wanting the very same for yourself. Remember, the objective here is Debt Free in 5 years, not 5 minutes. This may take this amount out in simply a couple of months.

If you are finding most engaging videos about Are You Considered Debt Free if You Have a Mortgage, and managed Debt, Good Debt, Unnecessary Debt please join for email list for free.

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