Money magazine Comments - Ask Paul: Should I save for a house or pay off my HELP debt? Should Josh focus on saving a house deposit, contributing extra to his super balance, or paying off his HECS balance? https://www.moneymag.com.au/feed/latest?story=179801997 Wed, 08 Nov 2023 09:45:47 +1100 Wed, 08 Nov 2023 09:45:47 +1100 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - Ask Paul: Should I save for a house or pay off my HELP debt? https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by Money magazine ()

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]]> Money magazine () Wed, 08 Nov 2023 09:45:47 +1100 Comment by kay lloyd ()

Yes Paul did answer a question of mine and he was right, the shares did start to pay dividends again!

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]]> kay lloyd () Wed, 08 Nov 2023 16:46:02 +1100 Comment by Mandy Higgins ()

Josh, what Paul said is technically right (regarding HELP debt being the best loan debt you could possibly have). But having a large debt is still a debt nonetheless - and those big numbers staring at you on every pay slip (like it did for me) really bugged me out. So I did a part HELP payment and saved for a deposit as well. I know some uni mates who saved for a deposit only. Somehow we all ended up getting a house around the same time or even later! Turns out while I was paying my HELP debt, they were going on holidays and buying big ticket 'feel good" items. So while they still have their HELP debt even to this day, I don't. That 'paying debt off early mentality' I learnt then actually helped me to also pay off my home loan off faster than my mates could. I guess it's different for everyone.

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]]> Mandy Higgins () Fri, 10 Nov 2023 14:55:57 +1100