What are the benefits of being a Consultant/Contractor

First job or seasoned veteran deciding to be a consultant/contractor is a big decision.  It is important that you know your own personality.  Consultants don't have the security that you do in a permanent/corporate position (most of the time).  You are basically running your own business.  So if you fret a lot about your next pay cheque than contracting may not be right for you.  But if you are confident and secure in yourself than there are alot of good reasons for contracting over permanent employment.

• Most consultants are paid hourly wages/salaries that are higher than the permanent employees.  This is because you don't receive the benefits of full time employment, ie medical, dental, sick days, etc.  
• You are running your own business so you can decide where your money goes, ie if you are single then maybe benefits aren't that important whereas if you have a family you may want to sign up for a benefits package through a health provider.  There are no union dues. 
• There are good tax write offs, ie your car, your home office, entertainment, computers, printers, education, benefit packages, etc.  These can all become business expenses. 
• You may get to work remotely if that appeals to you.
• The chance of feeling in a rut is less likely in a contract position as you have the opportunity to work for a number of different companies on a number of different systems.  This will enhance your training and sale ability.  Big corporate companies tend to put you in a slot and then leave you there so your resume can look a little boring if you have been doing the same job, working on the same system for the last 5 years. 
• There is the opportunity to travel.  It is much easier to work in another country on a short-term contract than it is to try and get a work visa.
• If you want to take an extended holiday then just work your contracts around the dates you want to be away.
• Company politics - not your business, you don't have to get involved.
• If you find a job and a company that really interests you, and you are doing a good job then there is an opportunity to get in full time.

As the global economy has changed over the last thirty years, there is a need for both contract and permanent positions in nearly all companies.  If you decide to contract remember it's not cut in stone.  The important thing is to keep gaining experience and growing your network.

Let me know if in your experience you can think of any good reasons for chosing the consultant/contractor career path.