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It is, especially once you have kids and you need to spend a lot of money on nappies, childcare, school fees, etc etc etc. All adds up. Without strong discipline on finance it is very easy to spend it all. Of course for people without kids, they can still spend it all anyway on different...

We have P&I with offset for our PPOR. Sure IO would be better for cashflow for future IP purchases and better in taxation when it gets turned to IP, but both my better half and I think it is wise to have forced savings to our own home as it is easy to spend our offset money.