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More Debt or More Happiness?
Posted on April 10, 2008It is so easy to get caught up in the American lie that possessing more stuff gooses up happiness. Advertising relentlessly bombards you with this same lie: Hey, you're not yet satisfied. So, no matter how much we may accumulate or spend, we always crave more.
But more things in of themselves does not make a man happier (Luke 12:21). While it's true having a warm home, ample food, and some extras makes life easier, if debt is in the mix, then the more stuff becomes a living curse.
The constant craving of pleasure fuels the temptation to nearly max out credit cards. The faulty reasoning goes like this, if my friend has the latest TV, a newer car, and latest gear for (YOUR HOBBY), why shouldn't I, too? But the real bottom line is: why should I want to buy a bunch of stuff I don't need, with money I don't have in order to impress people I don't even like? (Thanks financial counselor Dave Ramsey for saying it so well)
Did you know financial woes trigger more divorces than anything else? (Even more than sexual issues) It is because that the borrower is slave to the lender who created us) stresses to the max. (Proverbs 22:7). And slavery to anything or anyone (except to the One who created us) stresses to the max.
The stress spills destructively over to all your relationships - especially to your spouse and kids. It puts you at one another's throat.
But guess what brings the most happiness? Not more stuff, and along with it, debt. Instead, it's relationships, relationships, relationships! Calm, loving relationships with close loved ones.
More stuff and mega-debt are short on happiness and long on misery.
Less stuff and little debt are long on happiness and short on misery.
A man with debt up his neck is wise to start down-sizing immediately before his misery literally makes him want to slit his own throat. First, sell the wheels or pad you cannot afford. Second, do whatever else it takes - to curtail debt and its choking interest rates. The only debt to have is a house that fits one's income.
Here are some ways to start controlling debt. But beware! These suggestions are tough as nails (well, at least from an American viewpoint) but well worth the sacrifice.
- An economical car
-
Eating mostly at home -- whatever's healthy and affordable
- Like-new clothes from second hand shops
- Vacations within a few hours' drive during off season lower rates
- Eliminating the smokes
Something that gets people into financial difficulty is not having an emergency fund. You need about $1000 set aside for emergencies. (Ideally about 3-4 months of living expenses.) Emergencies are going to come -trust me.
And a most effective way to avoid grief and stress and to embrace peace of mind is to work a simple budget between you.
One of the most freeing, liberating feelings on the planet is coming into being debt free except for a modest home. It's like being on crutches for a long time, and then the feeling you have when you can walk without them.
Getting the debt monkey off your back is a man who wins.
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