Title: Why Pay off Loans Early? Savings and Peace of Mind
Headings: 
Why Pay Off Loans Early?
Benefits of Reducing Debt
Save Money
Improve Financial Strength
Peace of Mind
When to Not Pay Early
How to Do It
Article Sources

Content: Some people choose to pay off loans as soon as they possibly can even if they know it doesn’t make the best financial sense. That’s fine, as long as you’re mindful of what you’re doing and why. You can’t put a price on happiness. Perhaps you want to reduce debt before retiring, you’re sick of making monthly payments, or you hate the idea of paying interest to lenders. Evaluate the pros and cons of using debt, and make an informed decision that you can live with. When to Not Pay Early
Paying down debt early leaves less money in your pocket for other things than if you paid only the minimum amount due each month. That might mean you enjoy fewer luxuries in your monthly budget, or you make do with a smaller cash cushion, making it more difficult to pay unexpected expenses. What's more, you pay an opportunity cost: You'll have to come up with additional funds to put toward other goals, such as retirement or a down payment on a house, for example. Only you can determine whether your money is better spent paying down debt or using it to invest in retirement, a new home, or education expenses.