Money Can’t Buy Happiness (But Debt Will Make You Miserable)

The other day, my twitter friend Ed posted this:

https://twitter.com/EdLatimore/status/912439406530662400

I responded

Money won’t make you happy.

But debt, debt will make you miserable. https://t.co/PieLaFOjtj

— Joel Runyon (@joelrunyon) September 25, 2017

Here’s the thing

Money won’t bring you happiness. (You’re free to try, but there’s a lot of people that have gone before you that say otherwise).

Still – no matter what – most people don’t believe that. Mainly because – if you’re in debt SOME money actually WILL buy you happiness.

But, there’s a catch. The precise amount that brings you happiness is exactly the amount of debt that you owe (plus a couple thousand dollars).

Here’s why:

If you’re rich, you can avoid inconveniences, but you still have to deal with the bigger life questions.

If you’re poor, you can learn to be content with a little. You can also make some risks here and there to gain status and money because you don’t have that much to lose. You can even learn to enjoy a simple life – minimized distractions and things that you simply can’t afford.

BUT, if you’re in debt, then you’re stuck. Because you’ve already got what you wanted (and you’re still not happy). The “you” of 1, 5, or 10 years ago, mortgaged your future for something you may or may not even wanted.

And now your’e stuck. With a big bill of obligation that stresses your present self and constrains your future self.

In your default state, you can do ANYTHING you want. Debt changes that. It holds you back and chains you to your past decisions.

If you’re free, avoid it like the plague.

If you’re in it, get out now.

It’s the one thing that can hold you back from pushing your limits..

Kill it and don’t look back.

///

These tweets sparked quite the conversation. Here were some of the follow-on comments from it.

“If Only”

What I would give.

— Ryan McRae (@TheRyanMcRae) September 25, 2017

Cut expenses
Cook your own food
Stop spending money on stuff you don’t care about
Replace entertainment with cold calls
Start a side hustle. https://t.co/Hf5bMlXFY5

— Joel Runyon (@joelrunyon) September 25, 2017

“But Money Brings Comfort”

https://twitter.com/stillglomar/status/912448808000290816

Disagree.

Most people think they want comfort. Then it slowly rots them from the inside.

Discomfort forces growth. Growth brings meaning. https://t.co/X2bDNsR8RX

— Joel Runyon (@joelrunyon) September 25, 2017

“Debt = Poison”

https://twitter.com/prophoenixsophy/status/912453494967341056

Debt is like quicksand. The more you get in, the harder it is to get out and eventually you’re swallowed whole. https://t.co/2DS4iXVEfI

— Joel Runyon (@joelrunyon) September 25, 2017

Speaking of side hustles, my good friend Chris Guillebeau, just came out with his book about building one this week. Check it out.