"We now have an extra €1,150 a month in our budget and we don't know how to spend it"
"Through various strategies including overpaying, switching banks and being quite frugal, we have managed to clear our mortgage."
"It was our goal to get it cleared as early as possible when we bought the house so we're feeling quite chuffed with ourselves. We (my husband and I) are still in our early 50s and child-free."
A child-free couple in their early 50s have cleared their mortgage by overpaying, switching banks and living frugally. The mortgage payoff was an explicit goal completed as early as possible after buying the house, and the couple feel proud of the achievement. Paying off the mortgage has freed an additional €1,150 per month in their household budget. The couple are now considering how best to use the extra monthly funds, weighing options between saving, investing, spending on lifestyle improvements or other financial priorities.
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