Pros:
- You will sleep much better at night.
- Your marriage will improve; the #1 reason given for divorce in the U.S. is money arguments.
- You can take advantage of good deals or investments that arise. Chicken breasts on sale for $1.69lb? You’ve got the funds to buy a few hundred pounds if you want.
- More freedom to move or change jobs if you want/need to.
- Graduating with now student loans will enable you to start saving sooner and investing in your future.
- You are not paying interest to The Man on stuff that you probably can’t even remember purchasing.
- You will be able to establish an emergency fund and start saving for retirement, vacation, new home or car etc…
- You will be able to help others more easily, Donate to your church, favorite charity etc…
Cons:
- Since you will be sleeping better you won’t be able to watch all those late-night infomercials. How will you know which new product will be the next Pillow-Pet or Snuggy?
- With no money problems, you will have to find something else to fight with your spouse about…maybe he/she squeezes the toothpaste tube in the middle.
- You will no longer get to keep eating non-sale $5.99lb chicken.
- You won’t have an excuse to keep living in that house you are upside-down in and keep working in that sucky job you hate.
- Since you didn't borrow for college, you won't get to pay back $50,000 in loans over the next 20 years.
- You won’t get to pay 18% to Visa and MasterCard for those carbon-fiber golf clubs that are gathering dust in your garage, sitting next to a financed sports car.
- You will have to find your excitement elsewhere since you will be missing out on the excitement of living paycheck to paycheck and being on the financial edge.
- You will have to say yes when someone knocks on your door collecting for the Association to End Cat Juggling
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