Wise & Wealthy: Paying off debt and Nietschze on purpose

Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.

#107 – January 22, 2024

My online class ‘Effective Writing’ opens on January 28, Sunday. Learn more here: dariusforoux.com/effective-writing

Wise: The purpose of writing

In the following excerpt from Friedrich Nietzsche’s book, The Gay Science, two characters are in a dialogue about why character A (which represents Nietzsche himself) writes:

“A: I am annoyed by and ashamed of my writing; writing is for me a pressing and embarrassing need, and to speak of it even in a parable disgusts me.

B: But why, then, do you write?

A: Well, my friend, to be quite frank: so far, I have not discovered any other way of getting rid of my thoughts.

B: And why do you want to get rid of them?

A: Why I want to? Do I want to? I must.

B: Enough! Enough!”

Writing for Nietzsche is a means to articulate and clarify his thoughts, a process that he finds annoying but vital for his life and sanity.

That’s something AI can’t do for you.

This is why we must keep writing because it’s what keeps us human.

↳ Why Do You Write? “Because I Must!”

Wealthy: Paying off debt

Debt can significantly destroy your potential to build wealth.

Here are 6 quick strategies to pay off debt if you have it. AND make sure you remain debt-free.

  1. Know your numbers — To keep it simple, stick to the 3-account strategy. So you won’t have to overthink your budget or work on a spreadsheet.
  2. Take a temporary “consumer sabbatical” — Avoid dining out, spending on gifts or fancy clothes, and so forth. The keyword here is temporary. Don’t deprive yourself forever.
  3. Learn personal finance — Having the right knowledge is indispensable when it comes to your money.
  4. Avoid credit cards. And never get a car loan — This one speaks for itself. It’s just not worth it.
  5. Start investing slowly — Long-term investing is all about building your retirement fund. So you don’t have to be debt-free to start investing. You can start with $50 a month, just to build the habit.
  6. Pay off your high-interest loans first — It’s simple math. High interest means more to pay. Tackle these loans first to stop the debt from growing.

Also, debt is a personal thing. I know an entrepreneur who has less than 10% of his own money invested in his business, the rest is debt. He has no problem with that.

I just don’t like the feeling of owing someone money.

Maybe I can grow my business faster with debt, but at least I can sleep better at night knowing I don’t have to answer creditors.

↳ 6 Strategies to Pay Off Debt and Retain Your Financial Freedom

One interesting thing

Here’s a truth you don’t often hear: Everything we do starts with writing.

That’s something I learned for the first time in 2015. And once I started writing daily, my life instantly started to change.

A year later, I started teaching the principles I learned in my course called Effective Writing.

8 years and 3,000 students later, we’re still at it! I just finished updating the course with new material for writing in the age of AI.

But ultimately, writing is thinking. If you want to improve your life, start with writing.

Registration for Effective Writing opens this Sunday, January 28.

You can learn more about the course here: dariusforoux.com/effective-writing

Thanks for reading! I hope you found this edition of Wise & Wealthy useful.

All the best,


Join the 5-day Financial Freedom Challenge

I created a 5-day email course you can do alone or together with a group. It’s called the Financial Freedom Challenge. And it will help you to gain control over your finances.

Most people try to calculate their way out of poor finances. But money problems aren’t rational. They’re emotional. Manage your emotions well, and you’ll manage your finances better.

Financial Freedom Challenge

How to Unlock the Financial Freedom Challenge

You can join the challenge for free. For five days, you’ll receive a short email with a small challenge that inspires you to improve your relationship with money.

I highly recommend sharing it with your friends/family so you can go through the program together. It helps bring perspective. And it’s more fun that way too.

Join here for free: dariusforoux.com/financial-freedom

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