J
jsalama
Guest
Age (Montreal)
Myself: 29
Spouse: 25
Employment
Myself: Sales Engineer
Spouse: Pharmacist
Gross Income
Myself: 80k
Spouse: 125k
Property
Family home: worth 350k, @ 2.65% weekly payments
Borrowings: None. 2 credit card paid in full each month
Savings
10k money market spouse
20k in emergency funds myself
My Question/s:
My wife loves shopping!!! Therefore i advised to her that we need a system to pay lump sum of 10k down every 3 months. She has been doing very well! I pay all the expenses with my salary and she saves the lump sum.
My question is: Is it a good idea to put all our savings to paying the Mortgage quicker? Should we be diversifying? We are not putting money in RRSP because of our new lump sum system.
Thanks for your input.
Myself: 29
Spouse: 25
Employment
Myself: Sales Engineer
Spouse: Pharmacist
Gross Income
Myself: 80k
Spouse: 125k
Property
Family home: worth 350k, @ 2.65% weekly payments
Borrowings: None. 2 credit card paid in full each month
Savings
10k money market spouse
20k in emergency funds myself
My Question/s:
My wife loves shopping!!! Therefore i advised to her that we need a system to pay lump sum of 10k down every 3 months. She has been doing very well! I pay all the expenses with my salary and she saves the lump sum.
My question is: Is it a good idea to put all our savings to paying the Mortgage quicker? Should we be diversifying? We are not putting money in RRSP because of our new lump sum system.
Thanks for your input.