Smart ways to pay off your mortgage faster

No matter what phase of life you are in, there is always a desire to save money and pay down debt faster. Financial expert Kelley Keehn shows three viewers how they can change their financial reality and save money for a rainy day.  

A single person who purchased their first condo should consider the follow moves to save money:

  • Cut expenses
  • Add a roommate
  • Consider short-term rentals
  • Increase salary (through side-jobs or raises) 

A new family now looking to save for their child's education need to take different steps:

  • Hire a professional to crunch the numbers
  • Pay off high interest debt first
  • Establish an emergency fund
  • Invest in an RRSP to boost tax refund

And pre-retirees who are carrying debt into retirement need to make some important decisions:

  • Downsize
  • Work part-time for added income
  • Consider a reverse mortgage