If you own a home, it’s likely that you’re still dragging the old ball-and-chain. No not that one – we’re talking about your mortgage. For many homeowners, 10, 20 or even 30 years down the road seems like an impossibly long commitment, which often means we slog along, and forget all about what it would be like to be mortgage-free.
And who can blame you? Assuming you have the average Canadian mortgage of about $280,000 at a 3.2 percent interest rate amortized over 25 years, if you make the monthly payments, you’ll likely be receiving a senior’s discount long before you pay off your home. So how can you pay down your mortgage faster? Check out some simple tips to help you break free in my new article on GoldenGirlFinance.ca: http://bit.ly/KII871