<prompt> Human: I am 22 years old, currently studying and working part-time in a job Ive had for 4 years. I earn approximately 450 per week after tax, plus make a bit extra maybe 5k per year on freelance graphic design. I have no other debt but also no other assets. I am wondering if I am wise in directing every possible cent to my mortgage as I have read some articles to the contrary.My grandparents decided instead of an inheritance to give me 100,000, but not all at once. As a result I purchased a 275,000 property including stamp duty with my parents as guarantors. I made this decision as my parents live in the country and therefore I was renting in the city near university anyway. I put down a 55,000 deposit leaving me with a 220,000 mortgage. With the remaining money from my inheritance, my grandparents are paying my mortgage until I graduate in early 2016. The minimum repayment is 300pw and the interest rate is 5.5. I am comfortable that even in the event that I do not get a graduate job, I can pay this with the help of housemates my current job.In addition, I have previously contributed 100 per week and have two housemates - one paying 150pw my boyfriend and one 200pw. Usually I have put 150 pw into long term savings however I have now decided to direct this to my mortgage payments instead. Therefore I am paying an extra 250 per week on the mortgage as well as what my housemates are paying. In total therefore I am paying off 900 pw on the mortgage.This leaves me with ample to pay for groceries, bills, etc. I dont spend a huge amount of money but I do wish to visit my boyfriends family who live overseas and I have never met at the end of this year which is where anything left over from living expenses is going. That will cost me about 4,000 but I think is unavoidable.There are no penalties with the bank for paying the mortgage off earlier and I can withdraw overpayments at any time in bundles of 500.My question is, I have been reading that some sites advise AGA paying off your mortgage too quickly. This seems odd to me. I just want to be free from the mortgage as soon as possible. That said, I am 100 aware of what an incredible gift I have been given with this money and want to use it to set myself up for life and not reflect on it and wish Id used it differently.So... am I doing the right thing in paying back ASAP? Or should I be thinking differently in order to maximise the benefit of this money?Any advice gratefully received! :  <response>: It is a very wise course of action for an Australian.The sites you are reading are probably targeting readers in other countries. The US, from what I understand, lets you claim a tax deduction on interest on your principal residence much the same way as you can do for investment properties in Australia. This, obviously, reduces the incentive to pay down your debt quickly - since your effective tax bill will increase at the same time. 