Thirty year old Canadian Sean Cooper paid off his mortgage in three years and although he is debt-free he has gained a lot of criticism, according to news.com.au.
Cooper told CBC that he paid off his mortgage so fast just by living frugally (meals mostly consisting of mac and cheese “Kraft dinners”, but also skipping on fun and renting out his home while living in the basement.
Plus he worked three jobs; full time at a pensions consulting firm; at a “no-frills” supermarket as a clerk and doing freelance writing on weekends and at night.
“So while people were out having a good time I was usually inside on my computer working,” he said.
But after living this lifestyle for three years and two months he is living it up now and free of his $255,000 mortgage.
But after hearing his achievement some are criticising his method to a quick mortgage free life.
“Upstanding citizen works his life away, lives in miserable squalor and forgoes human relationships for years. How is this an inspirational story?” one man said on the CBC Facebook page.
Even his work ethic was targeted: “So he took three jobs when people are struggling to get one, so that he can pay his debt off faster, while others trying to find a job struggled,” one woman wrote.
Others just felt sorry for him.
“If he hopes to woo a mate with whom to enjoy his financial standing, he isn’t going to need applause — he’s going to need something to talk about, like a person, besides *work* or ‘frugal’ ways to gussy up Kraft dinner,” one man said.
But many were positive about his achievement, with one saying “I applaud this young man for making a plan and sticking to it ... three years in his life working hard and living frugally and now look what he has to offer when he does take a wife, a debt free home. Bravo!”
In a follow-up interview with The Globe and Mail, Cooper explained that he had saved a $170,000 deposit on his own and pointed out that the sacrifice to his social life was probably not worth it.
“Paying off my house this quickly, I realised I made a mistake working 80 to 100 hours some weeks. I’d rather I paid it off in five to six years and had spent more time socialising with people.
“I’m going to loosen up and enjoy some of the things I’ve been depriving myself of.”