Pay Down Mortgage or Invest
CRAFTED Millionaire
Cayla Craft
4.9 • 1.3K Ratings
🗓️ 1 July 2022
⏱️ 9 minutes
🧾️ Download transcript
Summary
When it comes to your money, where is it best spent? Is it better to pay down your mortgage or invest? This episode was inspired by a recent Instagram question and Cayla is obsessed with talking about investing and finances. So today’s Mommy Millionaire Minute is all about leveraging. What would Cayla do? While tempting to pay that mortgage down, what does that actually get you in the end? Listen to find out Cayla’s take on investing and why you should have money work for you.
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You will learn:
- [1:40] - This episode was inspired by an Instagram question.
- [3:35] - What happens when you pay your mortgage down and you own the house outright? It’s not going to make you money.
- [4:32] - Put your money where it can be multiplied.
- [5:29] - While not giving financial advice, Cayla shares what she is focusing on with her investments.
- [6:51] - In times of economic stress, there are still things you can do. Listen to Cayla’s plans for herself and see what works best for you.
Find Cayla:
Transcript
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| 0:00.0 | If I had the option of paying my mortgage down or investing, no, absolutely, I'm investing. |
| 0:04.9 | I'm not going to pay my mortgage down as long as I have a really good interest rate. |
| 0:08.7 | So three percent or less, that's basically like, hello, duh. |
| 0:12.3 | I'm just going to keep paying that mortgage on that. |
| 0:14.3 | That's a no-brainer to me taking my cash, putting it somewhere where it can be multiplied for me. |
| 0:20.8 | I don't believe that owning a home is an asset because it appreciates in worth over time. |
| 0:26.2 | But it costs you money over time. You have wear and tear on a home. |
| 0:29.2 | You know, things break in the house. You're going to have to fix it. |
| 0:31.9 | Owning a home costs a lot of money. |
| 0:36.4 | Hello and welcome to the Mommy Millionaire Show. |
| 0:40.0 | This is your host, Kayla Kraft. I am a mom of three. |
| 0:43.8 | Multi-millionaire master life coach and money mindset queen. |
| 0:48.8 | I am so happy and thankful that you're here. |
| 0:51.8 | I am actually on a mission to help one million women make a million dollars or more a year. |
| 0:57.9 | That could be you. Every week, I'm bringing you inspiring stories to help you feel empowered |
| 1:05.6 | to broaden your horizons, to gain clarity and strategy on living your best life. |
| 1:12.3 | Over at Mommy Millionaire, we pursue our lives with purpose and love and the riches always |
| 1:18.4 | follow. So stay tuned because I'm bringing you episodes twice a week. |
| 1:22.7 | I believe you are your biggest asset. So let's build you up today. |
| 1:27.2 | Let's get into it. |
| 1:36.5 | Hello, my beautiful Mommy Millionaires. |
| 1:38.7 | So in today's episode, we're going to talk about love bridging. |
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