“In managing your own finances, try to look at the situation as a company would. Don’t starve yourself for working capital, for cash. All that does is increase your default risk, not decrease it. Instead, strike a healthy balance between maintaining a cash cushion and taking on debt.  The unexpected will happen. And when it does, what matters then is not whether your payments are a few points lower. It’s whether your capital reserves will last for two months or two years. The more time you buy yourself to react, the more likely you can land on your feet.  What yields more peace of mind: paying a few bucks less each month or knowing you can weather a storm?”

http://www.caseyresearch.com/cdd/the-worst-investment-advice-ive-ever-heard

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