Overpaying Your Mortgage Is A Big Waste Of Money

A lot of people excitedly talk about the concept of being mortgage free, but the truth is that for many people chasing this goal ends up losing them a huge amount of money.

It sounds nice not having to pay a monthly mortgage and live in your house completely for free, but if you do have a mortgage, is making overpayments a good idea?

For many people the answer is a categorical no.

If you have any other forms of debt that cost more in terms of interest percentage than the mortgage (and that is likely to be almost every kind of debt out there), you will actually save more money and be in a better net financial position if you repay the highest interest rate debt first.

Even if you have absolutely no other debt, there are a number of ways you can invest your money to get a much better rate of return on it than the amount you'd be saving by repaying your mortgage so you would net be making more money by doing that instead.

I cover a few other interesting things to think about throughout the video - let me know if you have any comments or questions below!

Here's the link from the Robert Kiyosaki video that I briefly included:
https://www.youtube.com/watch?v=A8vD_XO0vUU

Видео Overpaying Your Mortgage Is A Big Waste Of Money канала Sasha Yanshin