It's not a hoarding of cash. It's living on a proper financial diet and it is crucial that you learn it early and abide by it because, when the money does start coming in, you don't get fat and slow, you stay lean and strong.
Also, it isn't all about interest rates. It's about opportunity. Having 100k and being able to borrow 100k are 2 completely different things and the first lends oneself to be much more flexible, opportunistic, and comfortable. (Also, if someone's paying you 3% or whatever, you can bet that their making more than that elsewhere.)
I completely understand what you're saying and there are many people pushing the "rice and beans" stuff. I think that's fine for getting out of a bad spot but not sustainable.
It may seem like an awful way to live, but I wouldn't have it any other way and, so far, it's paid off several times, both financially and through incredible opportunities I couldn't have otherwise taken.
It's not a hoarding of cash. It's living on a proper financial diet and it is crucial that you learn it early and abide by it because, when the money does start coming in, you don't get fat and slow, you stay lean and strong.
Also, it isn't all about interest rates. It's about opportunity. Having 100k and being able to borrow 100k are 2 completely different things and the first lends oneself to be much more flexible, opportunistic, and comfortable. (Also, if someone's paying you 3% or whatever, you can bet that their making more than that elsewhere.)
I completely understand what you're saying and there are many people pushing the "rice and beans" stuff. I think that's fine for getting out of a bad spot but not sustainable.
It may seem like an awful way to live, but I wouldn't have it any other way and, so far, it's paid off several times, both financially and through incredible opportunities I couldn't have otherwise taken.