Teaching a Debt Perspective to 12-Year-Olds

Excerpt :

Here’s a broader question. Why are we defining success so narrowly? Because it’s what we’ve been taught. We’re supposed to get good jobs and be really good at them and accumulate a lot of stuff and be happy.

Do you know what’s interesting? There’s a group called Alcoholics Anonymous designed to help alcoholics recover from their alcohol addiction. There’s a recovery group for almost every single type of addict. But there’s not a recovery group for wealth addicts, people whose every thought is consumed by the need to get richer and richer. Why not? Because our society embraces that kind of addiction. We think it’s a positive thing. So people who are literally suffering from this affliction are being lauded and praised by our society for their gumption rather than being treated for their sickness.

Let’s teach ourselves something different. If we were to put as much work into making a positive difference in this world as we do accumulating cool stuff, what kind of a world do you think we would live in?

How do you perceive success?

 
Excerpt :

Here’s a broader question: How do you define happiness? Studies have shown that lottery winners will experience elation when they win the lottery, but they’ll eventually return to their original state. Think back to this past Christmas about a month ago. You were probably super excited to open your presents. Remembered how happy you were to play with or use your gifts for the first time? Where are those gifts now? Are you as happy using them now as you were the first time?

No material thing can ever bring somebody a lifetime of happiness.

How do you perceive happiness?

No More Harvard Debt

A few weeks ago, my buddy and former HBS classmate, Allan, asked me if I’d like to give a talk about my debt pay-off to the youth group that he leads at his church. I was intrigued and asked who the audience would be. “About a dozen young men, ages 12 to 18.” I became both very interested and very intimidated at the same time. What a great time to talk to them about debt! Young people should hear this message sooner rather than later. But also, what a difficult time to talk to them about debt! Will they listen and pay attention? Can they relate? How the heck do I effectively talk to them about debt without getting too simplistic and general?

Well, I literally just got back from giving the talk, and I couldn’t be happier with how it went. The group of guys was extremely engaged and…

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