How to save Media Cache Files and Media Cache Database on an external SSD? Any consequences?

My PC has incredibly low storage, it's pre-built and didn't come with the most impressive specs. Meaning, media cache files fill up my computer like nothing else, which I already have very limited room for, which led to frequent crashes while editing in Premiere and AE. Having experience with the programs but never truly understanding how they work under the hood, I was wondering if it would be wise to move the Media Cache Database and Media Cache Files onto an external SSD. I did this for my previous project for both AE and Premiere, which was a video essay for Youtube with motion graphics and live action footage, and it was the first time I've ever encountered errors with .cfa files that creted conform issues and made the video impossible to export. Doing research, I learned the issue was with .cfa files, which are stored with media cache files, and the error could have been due to the changing locations of the media cache files and database. 

All of that being said, I was wondering if it is a good idea to keep Media Cache Files and Database on an external SSD, the possible consequences of doing so, and how I should set it up if it is the right course of action to avoid those conform issues I had in the past. Thanks in advance!