I’ll agree about the wisdom of having cash on hand (or, at least, in highly liquid investments).
I was never much of a debtor or saver in my twenties. I tended to live exactly within my means.
When I got wiped out during the dotcom crash in 2001 I ended up about 20k in debt via credit cards while recovering over the next few years. I’m still paying it off :(.
The point is something will always come up and its cheaper to pay for it in cash vs. financing it. Btw, I have a feeling many of the families buried in debt in the country are exactly in my situation, not tooling around in Hummers and wearing a Rolex.
