Did you know that Dave Ramsey and Jim Cramer agree?  Both extol the virtue of cash, albeit for different reasons. 

As you may know, the tag line for Dave Ramsey's show is, "where debt is dumb, cash is king, and the paid-off home mortgage has replaced the BMW as the status symbol of choice".  Thus, Dave Ramsey emphasizes that we pay for our everyday purchases using cash, instead of using credit cards.

Cramer praises the value of cash for a different reason, related to your investing activity.  For those of you who do not know about Jim Cramer,  he is a former hedge fund manager who is host of 'Mad Money" on CNBC.  Most people want to be fully invested at all times in their 401(k) or IRA accounts.  However, if you are fully invested, you do not have any funds available to take advantage of opportunities that arise from time-to-time in the market, due to downswings or irrational selling.  Thus, Cramer recommends having 5-10% of your holdings in cash at all times.  To read more about Cramer's cash recommendation, click here.