You may consider paying off your mortgage as a wise financial move when you have extra cash.  Before you do that, consult a financial counselor or tax advisor.  Two things to do before paying down a mortgage would be to pay off credit cards and to contribute to a 401 (k) plan.  Then homeowners should evaluate the tax effect of your home mortgage.  Key factors are: future home ownership plans, tax bracket you are in and need for near and long term liquid assets.