{"id":55591,"date":"2017-07-07T02:42:34","date_gmt":"2017-07-07T09:42:34","guid":{"rendered":"http:\/\/erickimphotography.com\/blog\/?p=55591"},"modified":"2017-07-07T02:53:13","modified_gmt":"2017-07-07T09:53:13","slug":"debt-is-slavery","status":"publish","type":"post","link":"https:\/\/erickimphotography.com\/blog\/2017\/07\/07\/debt-is-slavery\/","title":{"rendered":"DEBT IS SLAVERY"},"content":{"rendered":"
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MATISSE REMIX<\/figcaption><\/figure>\n

PHOTOGRAPHY ENTREPRENEURSHIP 101 by ERIC KIM<\/a><\/em><\/p>\n

One key to wealth: avoid debt like the devil.<\/p>\n

Download PDF ><\/a><\/p>\n

<\/p>\n

One. Don’t go to art school<\/h2>\n

If you’re reading this, don’t go to art or photography school, if you’re going to go into debt.<\/p>\n

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?<\/p>\n

2. How to game the system<\/h2>\n

Another fun strategy:<\/p>\n

\n Rack up student debts, but declare bankruptcy after you graduate to absolve yourself of responsibility.\n<\/p><\/blockquote>\n

Bankruptcy will fuck up your credit, prospects of buying a house, car, credit card, renting an apartment, etc.<\/p>\n

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.<\/p>\n

Three.<\/h2>\n

In life, avoid debt like the devil.<\/p>\n

Debt will force you to make life decisions that will restrict your freedom.<\/p>\n

The easiest way to become wealthy:<\/p>\n

    \n
  1. Increase income <\/li>\n
  2. Decrease expenses <\/li>\n<\/ol>\n

    1. Increase income<\/h3>\n

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

    Cindy has done a great job building HAPTIC, increasing our “passive income.”<\/p>\n

    We’ve also put money into real estate, to gain more “residual income”.<\/p>\n

    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<\/em> workshop experiences, I’m making each workshop more valuable.<\/p>\n

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

    2. Decrease expenses<\/h3>\n

    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:<\/p>\n