My general rule of thumb is I want 50% of my yearly income in available cash which is split up with 75% of that split between two banks, the balance in my hand. On top of that I keep some precious metals around as an insurance policy, I usually keep that in gold eagles and silver eagles.
The only things I will borrow money for is a house to live in and a vehicle to get to work. Other than that, if I can't pay cash for it, I don't buy it.
I agree with Dave Ramsey on some things but not others. Where I disagree is with credit cards and FICO score. I travel quite a bit so credit cards help keep my from carrying so much cash, but the credit cards are paid in full every month. FICO scores affect more than a persons ability to borrow money. What you pay for insurance, among other things, is affected by your score.
And I am very lucky, my wife and I agree on how to handle finances.
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Today's Featured Article - The Ferguson System Principal An implement cutting through the soil at a certain depth say eight inches requires a certain force or draft to pull it. Obviously that draft will increase if the implement runs deeper than eight inches, and decrease if it runs shallower. Why not use that draft fact to control the depth of work automatically? The draft forces are
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