Tuesday, December 11, 2007
Paying off my Mortgage
Last night I sat down with my husband and we did lots of calculations to work out the best way to pay off our mortgage quickly. We have a stocks and shares account that pays good interest (over the last 5 years has paid 18%, 14%, 23%, 18%, 10%). We have calculated that if we invest £585 a month and we get 10% interest we will pay it off in 7 years, if we get 18% interest we will pay it off in 6 years and if we get 23% we will pay it off in 5 years. It will be interesting finding the money to pay it off but as long as I keep earning and we are careful we should be able to do it.