Monday Night Finance- Volume 85


Is it worth paying off your mortgage early?

Ah, the age-old debate: pay off your mortgage early or invest that extra cash? It’s like trying to decide between avocado toast and pumpkin spice lattes. Both are appealing, but which one is the wiser choice? Paying off your mortgage early can provide peace of mind and save you money in the long run. But investing that extra cash can potentially earn you even more in returns. So, what’s it going to be? Time to put on your thinking cap and crunch some numbers. Or you know, just flip a coin and hope for the best. If you want to know what other people think on the topic, you might enjoy this topic from “My Own Advisor”, a Canadian money website.

Probably the single, biggest, apparent reason to prioritize paying down your mortgage (vs. spending money on other things, investing your money in parallel, other) is that it saves you money. 


Mark from discusses the question of whether it is worth paying off your mortgage early. The article starts with some suggestions on how to lower mortgage costs, such as maximizing your down payment, getting the best rate and terms, and accelerating your payments. The article also mentions that not all mortgage costs are created equal and some are tax-deductible. The author then shares his own experience with mortgage debt and how he and his wife approached it. He concludes that personal finance is personal, and there is no right or wrong answer. The article also touches on various topics, such as the pros and cons of hiring a financial advisor, and the importance of keeping investing simple and goals-driven.

Think You Don’t Need Life Insurance? Think Again, and Here’s Why

We all know we should look into life insurance, but let’s face it, who has time for that when we’re busy binge-watching the latest Netflix series or scrolling through TikTok? It’s like trying to convince ourselves to eat more vegetables instead of pizza – we know it’s good for us, but it’s just not as enticing. However, just like a balanced diet, life insurance can be a crucial ingredient for a healthy financial plan. When was the last time you thought about life insurance? And if you’re on life-insurance-autopilot, is your plane headed in the right direction? If you need a fresh look at your life insurance situation, you might want to check out this article by Gary Weiner of a Wealth of Geeks.

When you’re young, single, and healthy, your mortality (and therefore life insurance) is something you rarely think about. After finishing school, you usually focus on your employment and career, perhaps marriage and family, rather than what may be a basic cornerstone of your financial plan.

Gary Weiner, Wealth of Geeks

The article emphasizes the importance of life insurance, even at a young age, as it provides financial protection for loved ones in case of death. The reasons for buying life insurance are simple, such as paying off debts, maintaining the family’s standard of living, and establishing a college fund or special needs fund for family. The article also discusses the three major types of life insurance, namely term, whole life, and universal life, along with their varying features. It is suggested that people should establish some kind of life insurance policy as soon as they can afford it, as it becomes costly and difficult to obtain as one ages and their health declines.

What Do Fitness and Finance Have In Common?

We all know that we should hit the gym to get our bodies in shape, but let’s face it: Netflix and pizza are way more tempting. Similarly, we know that we should have our finances in order, but that cute new sweater and fancy brunch with friends seem to take priority. However, just like exercising regularly, taking small l steps towards financial fitness can lead to big gains in the long run. But what small steps should we be taking? That’s where this article from Financial Pilgrimage comes in!

One reason we do not change our habits is that solutions are made overly complex. Many genuinely try to make changes, but we give up when things get too complicated.

Remember when eggs were bad for you? Everyone with moderate to high cholesterol used to eat egg beaters (and probably still do), which is a gross substitute for real eggs. Fast forward a few years, and now eggs are a power food that increases good cholesterol.

Financial Pilgrimage

In this article, the author draws parallels between physical fitness and personal finance, highlighting the importance of building habits in both areas for long-term success. The author notes that like physical fitness, financial fitness requires discipline, patience, and persistence. To achieve financial fitness, the author suggests creating a budget, setting financial goals, and regularly tracking progress towards those goals. By establishing healthy habits in both physical fitness and personal finance, the author argues that individuals can improve their overall well-being and achieve greater financial freedom.