What would you do with the money?
Answered 2 months ago
I have a $340,000 mortgage. Sometime in the future I have $200,000 coming my way. I want to pay 175k straight off the mortgage and use the rest for a family holiday. My husband would rather spend it on holidays and Reno’s we don’t really need. Just wondering what others would do? Save or splurge? I’m a saver.
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Do a mortgage principal reduction as well. It reduces your mortgage balance by removing some funds in advance (doesn't have to be all). Otherwise the funds will be available for redraw from your mortgage & you'll still be fighting him.
Definitely majority into mortgage.
Where is the 200k coming from? I realise you are a partnership but if it was coming from family/would be solely mine if I were to be single I would definitely be the one to decide