Be wealthy and smart, episode 383.

I'm gonna live no rich life.

Rich life.

I'm pulling that's life.

If y'all know what I mean, put your hands up and declare with me

Yeah, I'm full of back time I'm gonna live the good life I'm gonna live the good life

and you're gonna glorious like Step into a world of wealth and financial freedom without budgets, boredom or bosses on be wealthy and

bosses on be wealthy Wealthy and Smart. And now here's your host, Linda P. Jones.

Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's Wealth Mentor,

Empowering women and Men Worldwide to Financial Freedom.

On today's show, we're going to talk about how to determine what debt to pay off and what

debt not to pay off.

I'm going to share with you a listener question and

this actually came to me on Instagram when I made a short post about debt.

Here's what I said. Use debt to your advantage. A mortgage can be a powerful tool to help you finance a home or investment over time.

If you itemize, the interest is a tax deduction for you. Here's a tip. Pay one twelfth extra on your mortgage every month. It's

the equivalent of paying one extra payment per year. That will save you thousands of dollars

in interest and help you pay it off several years early.

For example, if your mortgage payment is $1,200 a month, $1,12 is $100, pay an extra $100 or $1,300 a month, and at the end of the year, you'll have made one full

extra payment. There's no charge to do this, and you'll often cut your 30-year mortgage down by

about seven years and save thousands of dollars in

interest. So that was my post over on Instagram and Sarah from New Zealand

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