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Do you count mortagages against your home as debt or a home expense?

+8 votes
by (230 points)
Do you count mortagages against your home as debt or a home expense?  
Do you count mortagages against your home as debt or a home expense?

5 Answers

+10 votes
by (670 points)
 
Best answer
You should count your monthly payment as an expense and then if you plan to pay any extra payments in the month you put that on the debt section
by (5.9k points)
Agree! Mortgage or rent it doesn't matter. We all need somewhere to live. Any extra payments are great but do come off overall debt. No one should be making extra payments on their mortgage until all their consumer debt is paid.  
+6 votes
by (7.5k points)
In the expense tracker, I count it as debt. It is something I am paying towards to get rid of, it will not be reoccurring forever.  
+6 votes
by (8k points)
My mortgage is considered a bill and then once we start to make extra payments the payments will be considered debt. Also because not all of your mortgage payment is going towards your “debt” a big chunk of ours goes towards escrow that pays our home expenses.  
+9 votes
by (2.7k points)
House but extra payments pn it are debt
+5 votes
by (6.2k points)
Are you talking about for a debt calculation of net worth or expense?  
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