One key to wealth: avoid debt like the devil.

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One. Don’t go to art school

If you’re reading this, don’t go to art or photography school, if you’re going to go into debt.

Why? The chance of making a living from your photography is very low. If you fail to make a living from your photography, do you want to be a wage slave for 30 years to pay off your debt of $200,000?

2. How to game the system

Another fun strategy:

Rack up student debts, but declare bankruptcy after you graduate to absolve yourself of responsibility.

Bankruptcy will fuck up your credit, prospects of buying a house, car, credit card, renting an apartment, etc.

But it can be a good way to take advantage of the banks. Also, if you plan on living at home, and working under the table, or dealing business in mostly cash, this might be a good option.


In life, avoid debt like the devil.

Debt will force you to make life decisions that will restrict your freedom.

The easiest way to become wealthy:

  1. Increase income
  2. Decrease expenses

1. Increase income

To increase income, I work harder (hard work is a virtue). I try to produce and create more. And build more value for others.

Cindy has done a great job building HAPTIC, increasing our “passive income.”

We’ve also put money into real estate, to gain more “residual income”.

I can earn more money by charing more money for workshop experiences, by building my value. I gain more wisdom, expertise, and knowledge in photography, and there becomes more valuable to my students. Also by teaching fewer workshop experiences, I’m making each workshop more valuable.

Also, to promote myself more, I just blog more. And continue to drop golden nuggets, that hopefully will increase the value for my readers.

2. Decrease expenses

I talk a lot about luxury and high quality goods, but if you examine my real life behavior, this is what you’d learn about ERIC KIM:

  • Uses $600 Digital Ricoh GR camera
  • Doesn’t own laptop. Just uses old iPad air
  • Shares dinner with Cindy (usually 1 appetizer and 1 entree). When we get home, I have an “egg snack” of 6 whole eggs to fill my stomach.
  • Wears same (expensive) outfit everyday.

I am averse to spending money for the most part. I hate wasting money on what I don’t think has value.

I’ll spend $3,000 on a computer, but I refuse to spend more money than necessary on a fancy dinner.

I also love fast cars, but I know cars are the worst waste of money. And spending a lot of money on rent.

As a fun game, I try to see how little money I can live on, on a daily basis.

Therefore to reduce expenses:

Don’t think that you’re lowering expenses against your will. Instead, treat the idea of lowering your expenses as a fun game.

This is why camping is so fun: you live in “simulated poverty” and realize how little you need to survive.


To conclude, avoid debt like the devil. Delay upgrading your camera and digital tools as long as possible.

Don’t upgrade your lifestyle. Rather, upgrade your mind.



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