> Being unemployed for several months is way less scary if your monthly expenses are lower and you have cash in the bank.

I call this being "Dave Ramsey Debt-Free" - and everything you say is true. There's a lot more to it than that (how to properly pay down debt, how to properly use credit cards, buying vs leasing automobiles, plus buy used only, etc) - but the "debt free" part of it is spot on.

The money in the bank? That's f-u money, meaning you get tired of things, tell yer boss to take the job and shove and walk out the door. I've done this a couple of times, and both times it was ultimately worth it, and wasn't scary because I knew I had enough saved that I could keep going at my expenses level for a couple years or more if I had to.

It's a very freeing position to be in.