Clear my mortgage with poverty or leave it for no...

[ukonlineshopping]

Been saving to pay off my mortgage for 4 years now and have £40,000 left. If I save £1k a month, which means I will have to live extremely frugally for 3 years I will have it paid off in full.

Why am I doing this?

-To be financially free
-To be able to go part time if I want to
-To prepare on what I think will be a very hard few years coming in the economy

It has been hardwork and I have put most of my time into my home business and trying to build it up.

Is it time to live a little and take a break on saving or push on and get it paid off?

[ineed]

Hi, I'd personally save up to pay it off, I can't wait for the day I'm finally mortgage free. But it depends, you don't want to work yourself into an early grave. Maybe aim for paying off in full in five years rather than three? That way you have a bit of spare money from your wages if you should need it and it's only two extra years.

[Beckyy]

If £1000 a month would be a struggle then aim for say £800, and add anything you have left at the end of the month. Although you want to get rid of it asap, there's no point living on the breadline, you still need to enjoy life a little!

[hkminca]

Depends on how old you are! If you're still going to be young enough to enjoy yourself when you've paid it off, then maybe extend your deadline by a year or two. Or don't make overpayments for 2 months and use the money to go on holiday and have a bit of fun - 2 months extra is nothing on the mortgage.