interest rates

why i'm choosing not to pay off my mortgage early

Exactly 4 years ago around this time at the ripe old age of 26, I was smack dab in the middle of house-hunting. I had been saving for a down payment for a few years and had finally hit my goal, so off I went into the world of starter homes and cute bungalows to find a house for this single gal that would be mine and all mine.  Well, mine and the bank’s.  At least for 15 years.

Luckily I didn’t have to deal with some of the house-hunting nightmares that others have had to endure, and I found a cute little place in the area I wanted for a great price.  We were still coming out of the recession so it was a buyer’s market, and with interest rates so low, I jumped at the deal.

how to cut your student loan payment in half

Guess which generation has been burdened with the most student loan debt in history? Yep, we millennials.  And it’s not getting any better.

We owe $1.3 trillion in student loans alone (and that’s not even getting into auto or credit card debt) with an average balance of $28,400 per borrower.  60% of all students who graduate college do so with student loans to repay.  And 11.8% of us are defaulting on those loans[1] (which, by the way, you have to repay no matter what – bankruptcy can’t even get you out of those). Even for those of us blessed with graduating without any, we see the strain on the people we date, our best friends, our family members and feel the pressure to save for the ungodly amount our children will undoubtedly need. How’s that for a positive outlook?