If you want to seriously save money and increase your disposable, and more importantly your investable income, then pay off your mortgage...fast!
The good thing about paying off your mortgage early is that you are using the power of compound interest almost in reverse to how lenders want you too. Every dollar you pay off early in your morgage could be worth $20 or $30 over the life of your morgage. How is that for leverage.
So we recommend living tight for a few years, following all of our money saving tips to help you do that, and then enjoy the benefits of having a smaller mortgage, or better yet no mortgage at all.
We also recommend avoiding borrowing equity in your house, unless you are using that money for investment purposes (even then it is risky). You are better off saving up money seperately and investing it seperate. Investing alway has risk, and it is a even greater risk when you are using borrowed money. The most risk of course is when that borrowed money is linked to your house!
So be sensible and use your head, pay of your mortgage quickly and don't use the equity in your property to get into debt or buy into the latest hot investment you heard about!
If you want to learn how to save $1000s a year then check out or 1011 money saving tips ebook!
Cheers
Rusty O'Connor
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