Five words that would make my heart skip a beat are ‘Honey, our mortgage is paid.’ Spare me the 150-dollar bunch of roses because hearing that we no longer have debt would be the most romantic thing – ever.
Considering prices are jacked up to the hilt on this most commercial of days, the real cost of Valentine’s Day is more than you think. At myrate.com.au, they crunched the numbers and found that if the $300 normally spent on typical romantic gestures are redirected to paying off a home loan instead, it’s a saving of more than $19,000 over a 30-year loan or can shave one year off the loan.
Want to save more? Further calculations showed that sacrificing a night out each month and putting $150 into your home loan instead would save almost $97,000 over 30-year loan or reduce it by about five and a half years.
It’s no wonder home loan specialist Kevin Sherman from Myrate.com.au wants people to boycott the “ridiculous spending” on this day.
Call me the Valentine Scrooge but, I’d rather own my home sooner than get an overpriced bunch of flowers that wilt in a couple of days.