CMT Team·Mortgage Tips & Advice·August 30, 2011An Interest-Saving Meal Plan 47% of Canadians say eating out less would help them save more.¹ Sounds logical. Frequent diners can drop $100+ a pop at a decent restaurant. But what if that same $100 was redeployed, once a month, as a mortgage prepayment? The result is appetizing in its own right. A standard $200,000 mortgage is paid down 13% quicker—in just 21.75 years instead of 25 years. Of course, once you pay off the mortgage you can take your payment savings and eat out 10 times a month if you really want to…or not. ¹ Source: ING Direct Poll. ING’s survey also included a few other sobering statistics: 36% of adults state that they don’t save any money on an annual basis. 54% claim to live paycheque to paycheque. If this is you, rent till the cows come home and save up a 4- to 6-month emergency cash stash (not to be used for a down payment!). Your dream home will wait for you. Rob McLister, CMT Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.