Financial Freedom Isn't Free

Why money will never satisfy.

Researchers have long tried to quantify the relationship between money and happiness.

Is there a certain amount of money that will make us feel content while giving us a sense of safety and security? 

Many have studied this topic, and for almost a decade, we thought we had a clear, conclusive answer—finally. 

In 2010, two economists published a popularized study showcasing how money could only improve happiness to a certain point. Their findings capped peak happiness at around $75,000.

But now, over a decade later, economists say it’s much higher. 

Blame it on the rising inflation, competitive housing market, or our post-pandemic reality. No matter your prediction, a 2023 study found that happiness plateaus around $500,000. That’s a significant jump. 

Yet you’ll still find researchers arguing whether $100,000 is a more accurate predictor of happiness. When I became an entrepreneur in 2015, this number would’ve resonated with me.

Photo Credit: Vitaly Taranov

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The six-figure frenzy 

I entered online entrepreneurship during the online course boom which touted the idea of making a six-figure income from your passion. At the time, this wasn’t just a goal; it was the goal of every small business owner.

We were told reaching six figures would be a rite of passage. Not only was it possible, but you could stretch and go for seven—heck, even eight figures if you’re lucky!

Throw in a flexible schedule, part-time hours, poolside work dates, and flashy conferences, and you’ve got yourself a dream job!

Inevitably, one by one, entrepreneurs flocked to Instagram as they crossed the threshold. They always shared the same battle cry: “I made six figures this year!” The proclamation was usually paired with photos featuring the number 100 in balloons or lots of paper confetti.  

Hundreds of likes and comments would naturally flow in, but then the dust would settle. Instead of feeling like they had finally made it—like they had arrived—they were filled with an insatiable hunger to hit the next milestone.

As a former Twitter chat host and community builder, I had many private conversations with six-figure entrepreneur friends who were breaking down behind closed doors.

While their stories were unique, they had a few things in common.

They couldn’t take the pressure. They were losing sleep and struggling with their mental health. They didn’t feel at all how they thought they would feel.

And they couldn’t stop thinking about money. 

Sneaky forms of idolatry 

Entrepreneurship is unique because there’s no glass ceiling, no limit to what you can earn. But limitations are healthy for us as followers of Jesus.

Without limitations, we may begin to worship little gods.

Most of us aren’t fashioning gods out of gold and silver like the Israelites did in Exodus, but we still worship other idols in our lives. We aren’t immune to its temptation.

This is why we’re instructed to “keep ourselves from idols” (1 John 5:21) and “put to death, therefore, whatever belongs to [our] earthly nature.” (Colossians 3:5) And greed is certainly on that list.

We must heed this warning because Psalm 115:8 tells us “Those who make [their idols] become like them; so do all who trust in them.” This convicting truth should cause us to approach money differently than the rest of the world.

You may be reading this thinking your desire to make six- or seven-figures to provide for your family and bless your community doesn’t fall into the category of greed. You want to work diligently and give generously, and you know it takes money to accomplish that. 

I agree that we must not make an enemy out of money but rather resist the love of money. This means attaching our happiness to earning a certain amount of money is probably tied to a false sense of safety, security, and contentment—an idol.

There’s a reason why we’re called to manage and steward our money, not worship it. 

Paul plainly states, “The love of money is the root of all kinds of evil” in 1 Timothy 6:10. Jesus also warned against the love of money in 11 of his 39 parables, making up 15% of his recorded teachings.

And in the Sermon on the Mount, Jesus refers to the love of money as “mammon.” 

Understanding mammon

“Mammon” is a Hebrew word translated from the Aramaic word “mamon” and the Greek word “mammonas.” It’s been used to describe anything that promises material wealth, a love of riches that is opposed to the will of God.

In modern Biblical translations, we’ve been taught that “you cannot serve both God and money” (Matthew 6:24), but this verse really comes to life when you replace “money” with “mammon.”

You can’t serve these two masters because mammon will always distract you from becoming who God created you to be. It will distort your vision of God’s goodness and steer you toward a modernized definition of “financial freedom” which isn’t freedom at all.

As an entrepreneur, mammon can look like…

• Accepting a project that promotes something that goes against your values and beliefs because of the financial payoff.

• Being anxious about your financial future instead of putting your trust in the hands of your provider, your Jehovah-Jireh.

• Not paying a living wage to your independent contractors so you can profit more. 

• Promoting a low-quality product you don’t believe in because it was gifted to you.

• De-prioritizing rest without limiting work hours because you don’t have “enough.”

We need to ruthlessly eliminate the love of money from our lives.

Or, as Paul would say in 1 Corinthians 10:15, “Therefore, my beloved, flee from idolatry.” 

We can start by giving generously, praying consistently, and surrendering completely.

Consider where mammon may be tempting you.

Maybe it has tried to threaten your identity in Christ. Has it changed the way you view yourself and your ability to provide and invest in your family and community? Does it tempt you to put your value in what you earn?

Mammon is deceptive in nature, so take this moment to reflect and repent in the loving presence of Jesus.

When it’s brought into the light, that’s when we can experience true freedom in Christ—freedom beyond what the world (and mammon) could ever offer.

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A moment to reflect

In what ways does money try to rule your thoughts, decisions, and actions? How can you healthily resist the temptation to put money first in your life?