You're correct. Keeping cash on hand and paying down debt is healthy. A high savings rate encourages investment, which encourages productivity increases, which increases quality of life.
It's hard to think clearly against the blizzard of noise which says savings are bad, consumer spending is good and economies only grow when everyone is in debt. But the opposite of all these things is true, you've just got to ignore all the talking heads that want you out of your house and wasting your saving on consumer trash.
It's hard to think clearly against the blizzard of noise which says savings are bad, consumer spending is good and economies only grow when everyone is in debt. But the opposite of all these things is true, you've just got to ignore all the talking heads that want you out of your house and wasting your saving on consumer trash.