The percentage of homeowners taking steps to get their mortgage paid off sooner has been steady since 2000. But the way people are attacking their mortgages has changed in a way that highlights the heavy load of paying a mortgage and all the other costs of everyday life.

The latest mortgage market survey from the Canadian Association of Accredited Mortgage Professionals shows that 15% of homeowners have been increasing the amount of their payments in recent years, down from 19% in the 1990s and early 2000s. Instead, owners are increasingly paying down their mortgages with lump-sum amounts. Sixteen per cent of owners did this in recent years – a rate that has crept higher since the 1990s.

Few things in life are free. Sure, there are free samples of protein bars at grocery stores and free hand-me-downs from grandma, but it costs you time to wait in line for the snack and effort to drop unwanted items off at donation centres. ‘p” So it should come as no surprise that it costs you money to manage your money – whether it’s banking fees, ATM fees or mutual fund fees. Or maybe it is a surprise to you. ‘p” Many mutual fund investors don’t know what they’re paying or even that they’re paying anything at all. According to a 2013 study by Environics, of Canadians over 25 years old and with more than $25,000 in investable assets, 25% said that they did not pay their advisor either directly or indirectly. ‘p” It’s important to understand what you’re paying and what you’re getting in return – then you can decide whether it’s worth it and whether you should take steps to minimize fees.