College students paid $10 to avoid getting health test results. Many homeowners do the same with their mortgage — they'd rather not know how it really works.

Burying Your Head in the Sand

In a 2013 US study, college students were offered free, confidential health testing. When given the option to opt out of receiving certain results, 5.2% chose not to learn their oral herpes status. A whopping 15.6% declined their genital herpes results. Some even paid $10 to not find out.

This is the Ostrich Effect — the human tendency to avoid information that might be unpleasant. It shows up everywhere in financial behaviour. People don't open bills. Investors avoid checking portfolios when markets drop. And homeowners? Many never learn how their loan actually works.

Why This Costs You Money

A home loan is the biggest financial commitment most of us will ever make. Yet most borrowers feel powerless watching their bank balance drain each month, hoping they're making the right decisions. Understanding how your loan works could save you tens or even hundreds of thousands of dollars. But learning about interest calculations and loan structures is, let's be honest, about as exciting as watching paint dry.

Eat the Frog

Mark Twain is often credited with saying: "Eat a live frog first thing in the morning and nothing worse will happen to you all day." The frog is the hardest task — the one you're most likely to procrastinate on, but that will help you most.

Learning how interest works on your home loan? That's the frog. It's not glamorous. It involves maths. But once you understand it, every financial decision you make about your mortgage will be better informed.

Kill the ostrich. Eat the frog. The payoff is worth it.