Pay off mortgage or invest in VAS/HIBL? Also, buy a ute now or later?

B

BluetwoDemon

New Member
Hello everyone, thanks for reading.

I’m 21, bought a house two years ago, paid $375k altogether, now have $240k left on the mortgage. My payments are $380 a week, and I’m a third-year apprentice working full-time.

I just started investing on Pearler—currently have $665 in VAS ($40 weekly, could increase) and $1100 in HIBL.

My questions are...

Should I put everything in VAS and stop trying for,quick profits from HIBL?
Note: I’m new to investing—only played the ASX share market game a little (not sure about long-term goals yet).

Should I invest my extra income or put it all into the mortgage?

Or should I put it in a bank with a lower interest rate and an offset account?

I also want to buy a single cab ute for weekend pressure washing, mulch reselling, and maybe lawn mowing. Should I look into that now or wait? Having trouble finding something affordable that can also tow a car trailer.
 
I understand that getting a single cab is really important to you right now. Once you've set aside an emergency fund that covers 3–6 months of living expenses, it’s a great idea to invest 10% of your income in a few simple, broad global ETFs like A200, IVV, or NDQ.

After that, you can start saving for the single cab. Use your offset account as your savings account it helps lower the interest you pay while you build up the,money for your goal.

These are solid plans, and I truly hope you follow through carefully so everything works out for you and you don’t end up making things harder for yourself.
 
Chat GPT excels at calculations and quick comparisons.

I prefer offset accounts. You pay less interest. Yet you keep your cash accessible. It’s there when you need it for a vehicle, for example.
 
Debt recycling, right? Honestly, my returns on my investments have totally blown my mortgage rate out of the water, so yeah, I’d definitely invest. And debt recycling? That just cranks the numbers even more in favor of investing like, why wouldn’t you?
 
Put most of your funds into the mortgage, continue learning about stocks, and you won’t need to work weekends.

A wise person once shared, If you don’t find a way to make money while you sleep, you will work until you die.
 
Back
Top