It'll only cost you a latte a day, says Tina Law in today's Dominion Post.

Christchurch mortgage broker David Tillman says that paying an extra $3.50 a day off the mortgage (coffee must be cheaper in Christchurch) will save $44,00 in interest by paying it off early.

Research apparently shows that if you are paying the minimum payment over 30 years, every extra dollar you put on your mortgage will save you $4.00 in interest!

So why aren't we jumping at this chance? According to one financial management consultant, it's because kiwis have a bad habit of living beyond their means.

New Zealand has one of the worst rates of financial literacy in the world, they report, with kiwis on average spending $1.20 for every $1.00 they earn.

The answer to our woes? Invest in your mortgage, make small adjustments, and use a broker or financial adviser to help you plan.

The full article is available on page C2 of the today's Dominion Post.