Finance and Economics > The Money Board

My free debt elimination website

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ladieu:
In general that is the case that is is treated as less objectionable.

If you view the interest your paying vs the tax your saving, here in the U.S. at least, it is better to pay off the house.

The main benefit is the freedom it creates in your life, and no investment chart of graph that says otherwise can trump the intangible benefits of being out from under mortgage... it is a dream of mine to be free in clear in 5 to 7 years

-nick


--- Quote from: JiB on January 04, 2011, 09:19:01 AM ---I guess in America you also treat mortgage debt as being less objectionable than other forms, i.e. credit cards etc.?
Here in Switzerland virtually no one fully pays off debt on the residential property they live in. It wouldn't be tax efficient to do so.


--- End quote ---

DUX4LIFE:
Is the site down?  I am having trouble logging in.  The site does not recognize my email address as being that of an active member.

imatter2:
The site looks like a great help.  However, wouldn't it be most advantageous in the US to pay off all debt outside of student loans and mortgage payments first (so focus on credit cards first), since the interest is tax-deductible.

I am a recent college graduate, with a modest amount of debt. Mainly student and car debt.  I am trying to focus on my car debt first - which has no tax deductible interest, and I am then taking my tax return from the student loan interest that I write off at the end of the year, and putting that entirely toward the principle on my student loans.  Any thoughts on this strategy?

Thanks from a new prepper.

ladieu:
it does pay them off in that order. Unless of course your credit card payments are larger than you mortgage. The debt "snowball" pays off the smallest first and then rolls it up into the larger debts with the mortgage being last

BetaDee:
I saw this post so decided to check out the website... LOVE IT!!  Much easier to use than my complicated excel spreadsheet... According to the calculator I could be out of debt much sooner than I ever immagined!  I am definitely using this!    ;D

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