I recommend you watch some videos on the topic, but here are the pros:
Health, animal products are really unhealthy:
I recommend Forks Over Knives (can find it on Netflix)
https://www.youtube.com/watch?v=F-OzTWY2J8E
Also, on the topic of health, you can look up some of the work of people such as Micheal Greger, and John McDougall as examples. Or reading up on The China Study
https://en.wikipedia.org/wiki/The_China_Study
Environment, it's great for the environment:
I recommend you watch Cowspiracy to find out more (available on Netflix)
https://www.youtube.com/watch?v=nV04zyfLyN4
Ethics, I recommend Earthlings (on YouTube)
https://www.youtube.com/watch?v=C3j0LyysECA
And
From Farm To Fridge
https://www.youtube.com/watch?v=tzrRmB40l00 (A 10 min video)
And make sure to watch Gary Yourofsky's speech
https://www.youtube.com/watch?v=es6U00LMmC4
Also price shouldn't be to big of a problem, a lot of the cheapest foods are vegan, rice for example. I think it's mainly the gourmet vegan foods that would be pricy.
Cons:
You may want to spend a little extra time researching how to get some nutrients, when not eating meat (and possibly not dairy and eggs)