Pay Off Your Mortgage in 4 Years or Spend It on Takeaway

Описание: In this video, financial advisor Phil McGilvray shares an insightful discussion he had with two of his clients about the importance of aligning your spending with your priorities.

Phil walks through the clients' budget and spending habits, highlighting how their unintentional overspending on things like takeout and coffee could be costing them the opportunity to pay off their mortgage years earlier and save tens of thousands in interest.

He encourages the clients to have an honest conversation about what they truly value - whether that's paying off the mortgage faster or enjoying more lifestyle expenses. The key is creating a realistic budget that supports their priorities, rather than mindlessly spending.

Phil demonstrates how the clients could pay off their $170,000 mortgage in under 4 years by redirecting their surplus cash flow towards the loan, saving over $60,000 in interest. This powerful example shows the life-changing impact of intentional financial planning.

If you're looking to get your spending under control and achieve important financial goals, this video provides practical advice you can apply to your own situation.

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0:00 Introduction
0:52 Client's Financial Journey
2:42 Increase in Spending
4:22 Setting Realistic Budget Goals
6:18 Impact of Extra Payments on Mortgage
9:26 Creating a Debt Repayment Plan