<prompt> Human: Context: This is being asked by someone living and working in the Philippines. So for example you have a housing loan, maybe 15 more years to pay, it eats up maybe 40 of your net salary per month, and has a remaining balance of roughly 2M. Your monthly budget is tight, but workable. If you get 2M for whatever reason, is it better to pay off that loan so that you can free up your monthly earnings? Or just continue with your monthly routine and use the 2M for another purpose?  <response>: Pay off the mortgage. It sounds like it significantly reduces your free cash flow, so youll be better up saving the money.Or if the bank allows to pay half at once, you might do that instead to bring the mortgage down to manageable levels while investing the rest its nice to have a cushion to fall back to in case of issues. 