Edited sentence: (It may be argued, however, that Micawber's "happiness" is a net saving of sixpence per annum.If you eat into your savings , it will make you miserable eventually.If you have no savings, then exceeding your annual income, will result in debt, which is at the heart of the meaning of the principle.It does hold a nuance in that it ignores savings.Keith Richards' main Telecaster guitar is named Micawber.The avoidance of debt, especially over a span of years is essential to long term happiness.This quote appears at first glance to be very simplistic