Quote:
Originally Posted by Toefur  ...I hate the pressure of owing money... having a significant chunk of money in the bank makes me feel comfortable, and secure in my situation in life. |
Which weighs on you more? You don't really 'owe' the money as you have the financial cushion to cover it with one check if you choose. Owing (in my opinion) is only when you have no money and you're depending on cash flow to cover the expense each month.
So, which is more important to you? Cash in the bank to allow you to feel secure? Or the idea that you have a paid off hard asset?
Me personally I'd rather keep savings liquid to me in case I really need it in the event of unforeseen consequences. I'll choose taking on some reasonable debt to ensure a safety net. Cash available to me immediately matters to me more than a hard asset that I could convert to cash if needed, but would be a hassle.