Good point, C.Ann. I do worry about things like that (or losing my job) and feel very ill at ease not owning anything. I just got the first car loan I've ever gotten, and I don't like NOT owning it downright. Yes, I could have "afforded" (by some people's definition) a $40K car, but instead I bought a $10K car and could have it paid off within the year if I weren't saving for this down payment. It feels so good to have a big cushion in case of emergencies, but some cushions will never be big enough for some emergencies.
I guess I'm sensitive about this subject because I see on a weekly basis people who DON'T live below their means and don't have the funds when it is literally a life and death situation.
And this is in a neighborhood that looks upper-middle-class by all appearances, average $250K house, when you can buy an older (but same size) house in the less trendy neighborhood down the road for $150K.
I guess I'm sensitive about this subject because I see on a weekly basis people who DON'T live below their means and don't have the funds when it is literally a life and death situation.

And this is in a neighborhood that looks upper-middle-class by all appearances, average $250K house, when you can buy an older (but same size) house in the less trendy neighborhood down the road for $150K.
