Dad, can I lease this new car for $250 a month? No.
Why not? You have the money. Yes, I do. I'm going to use that money to pay down our mortgage early.
How much does that save you?
If I put an additional $250 a month towards the principal, I will save about $50,000 and take seven years off the mortgage.
What will I drive? I heard e-bikes are very popular these days and good for the environment.
And where did you learn this?
Just follow Social Cap. He makes complex finance seem easy.