Reduce high-interest debt first

The Central Bank is forever warning about crippling levels of mortgage debt, and papers are littered with accounts of banks sometimes lending people up to ten times their salaries.

6th May, 2006

The Central Bank is forever warning about crippling levels of mortgage debt, and papers are littered with accounts of banks sometimes lending people up to ten times their salaries.

So what could be more sensible than using some or all of your Special Savings Incentive Account (SSIA) lump sum to pay off your mortgage? Or increasing your mortgage payments by the amount you had been contributing to your SSIA?

Apparently, lots of things.

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