Mortgage debt is the happiest kind of debt. At least that’s according to a survey conducted by the Motley Fool.
1000 people were surveyed about their attitude toward debt. Those paying off mortgage debt more satisfied about that kind of debt compared to other forms of debt, like medical bills, student loans, or credit card debt.
We know that debt can be very stressful. In fact, 97% of those surveyed said they would be happier if they had less debt.
Well, duh!
Who wouldn’t be happier with less debt or even zero debt?
Also, 71% of the people surveyed said they thought about debt more than they wanted. 28% said they worried or thought about their debt on a daily basis.
What is the kind of debt that makes people least happy? Medical debt. That makes sense. Who wants to pay off a surgery bill for 20 years or more?
Also least satisfying was paying off credit card debt, followed by student loan debt.
Those paying off mortgage debt were the happiest. That also makes sense. If you’re going to buy a home you most likely will use a mortgage. But your home is something that you love and enjoy. The home makes you happy, so you’re ok with paying off that kind of debt.
Hmmmm. I’m wondering something. If you were to buy a home in 2019, would that make you happier? Maybe you and I need to talk.
