Would add to your point that having money also allows you to paper over any mistakes that you make using the above strategy. I was discussing this with my wife

Would add to your point that having money also allows you to paper over any mistakes that you make using the above strategy. I was discussing this with my wife with respect to a vacation that we are taking. After noting that the airline (which we booked months in advance) rejigged the flight and we had to pay extra for seats in better locations on the plane, I said "how about next time we wait until the last minute (or week before) and book the trip?" My bet is that by waiting we will save money with both the hotel and the airplane. I could be wrong of course. But my point is that if I bet wrong I can easily cover the extra cost of both items. So I can afford to take the risk whereas someone not in the same financial situation can't afford to do that or it might have a bigger impact on them.