Indeed. I read somewhere in the Wall Street Journal this week that the Millenial generation is the most debt-laden generation ever. I don't know if that cuts across all economic strata of their generation or if it includes the average younger HN reader but your suggestion is a solid one and will leave you on much firmer ground if things go south in the future.
It only makes sense, with how cheap debt is right now. E.g., 0% auto loans.
Yep, makes perfect sense.
I personally have five figures in credit card debt. yet I have enough liquid funds in the bank to pay them off today.
The interest I'm paying on my debt is 0%, it's my third fee free balance transfer.
Best answer. The best hedge against a crash is to not owe anything and be ready to buy when the crash does come.