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Debt killed intentional actions
I cannot stand debt. There is no doubt about it – I cannot stand it.
I personally think that having debt controls you to the point that you can’t live the best kind of life you can live. I don’t live on planet Mars so I understand that in some cases, you are going to have to go into debt, but I think it should be a rare occurrence. Meaning, other than a home, you really should practice having the money to pay for most things with cash.
The only time I would suggest taking a loan out is when it’s for something that would save you money overall – for example; solar panels or doing a 0% interest-only loan when you have the cash to pay it off. For some reason, people are under the impression that they need to spend more to be happier but this couldn’t be further from the truth.
I’ve heard it all
I have to buy a new car so that I won’t have maintenance problems
I have to buy quality so that it will last
I got it on sale so I actually saved money
We just have to remodel our bathroom or our kitchen
When you go into debt buying these things it limits your intentional actions.
Intentional actions Armond? Why are you in my airspace about this? Who cares about intentional actions and what the hell does that even mean?
Intentional actions have a huge impact on whether or not you are happy. Studies have shown that if you make less than $50,000/year this affects your overall happiness. However, if you make over $50,000/year extra money doesn’t buy you extra happiness. Digging into this deeper is Kim Petch in the article Does Money Reduce Stress.
We are the happiest when we are making intentional actions towards a goal. Intentional actions are learning something new or deviating from your routine. Intentional actions are getting out of our daily cruise control routine and doing something different. The happiest people on earth are the people who can recover the quickest from adversity.
For example, if an NBA player wins the NBA championship, he doesn’t go through the rest of his life fulfilled.
No one goal can do that for you.
The fact is, you also recover from achievement too. We are actually happier when we are working towards something or being able to experience new things. However, living beyond your means actually kills your intentional actions like an episode of CSI. Yep, the next time you receive your credit card bill, there it is….Intentional actions lined in chalk.
It had so much life ahead of it. So young, so fragile.
The things that will actually make you happy are actually free.
Some of the happiest people on earth are the people who exercise believe it or not. Happy people tend to spend time outside being one with nature. They are also grateful for the things that they have. The small hugs that they get from their children. Happy people are able to laugh in the face of sadness. They are grateful that they can help their loved ones through very hard times in life. Happy people actually enjoy the grind that they have to put in to raise their children because they get to be a part of something that is bigger than themselves.
I believe debt is a killer of all that.
Like a Mass murderer with tagged on interest payments. Debt causes you to have to work more and deters you from being able to pay for some extra tutoring your children may need to catch up in school. And even if you pay for the extras you need anyway, a little piece of you is pissed off about doing it.
Being in debt causes you to have more negative thoughts about hard times.
Not only are you frustrated with not being able to come up with the money when your family needs it, but Charles Manson is also showing up at your home collecting payments. You are trying to figure out a way to be there for the people you love and handle your responsibilities at the same time. Trying to choose between putting a roof over their head or giving them your full attention and time.
I know if hard times fall on my family, I already have a plan in place.
Depending on the complexity of the issues, I don’t need ANY material thing to put myself in the best possible position, because I am a Financial Leader. I would turn in to that asshole who loves you. It would turn into an Oprah episode in reverse.
- Sell current house for a more affordable house – Done!
- Public schools instead of private schools – Done!
- Find an area outside of the San Diego area that is cheaper to reside in – Done!
- Cut cable and any subscription of any kind – Done!
What about that Disney Land vacation we were planning on? Time to view that park down the street as the happiest place on earth because we are not going to Disney Land nor any other type of vacation unless that vacation is completely free. We can drive to the beach and sit on the sand all day and play. That is a great vacation, don’t you think?
In all seriousness, we get all wrapped up in trying to maintain a lifestyle and we do it in the name of our family. If we are able to do that easily and still focus on doing things that make us happy, then sure, I say ‘do it!’ If you are able to get out of your routine and focus on a new goal, then do that.
