The less bills we have the better.  Although, there is usually that one bill that will stick with us for years – mortgage.  Our mortgage payments are what keep us strapped for cash, working more hours, and put of saving even more money.  There is a debate as to whether you should save money or pay off your mortgage and can be looked at by both sides as positive.  Although, lets take a look at what the benefits are of having no mortgage payment.

The Benefits of Paying Off Your Mortgage Early:

Less stress – First of all, you’ll have a lot less stress in your life.  Knowing that you’ve worked hard to pay off the house you’re living in is a great feeling.  This is probably the biggest bill we’ll ever run into. 

Freedom – Not only will you have less stress but now you have more freedom.  You’re not strapped for cash because of your mortgage and now you can probably cut back on a few hours without having to worry so much about pinching pennies.

More money – You now have more money!  That $1,500 (or whatever you had as a mortgage payment) is now $1,500 for you.  Now, you can choose what you want to do with it!

More opportunities – Not only do you have more money but you have so many more opportunities.  You can save that $1,500 and put it in a money market, CD, retirement fund, stocks, bonds, college fund, pay off your other debt, or to spend.  It’s your money now, what are you going to do with it?

You’re safe – You are also safe now.  You have a place to come home to as long as you pay your taxes.  This is something that will always be yours, and you can use as an investment.

Less money – If you think about it, you will be spending so much less if you pay it off early.  They say that sometimes people will end up spending almost double in the long run after they pay off all of their interest.

The benefits of paying off your mortgage early are endless.  You will feel so much more secure, better of financially, and will end up paying a lot less in the long run.  You will also have so many opportunities for the future and your money!