Jaws, Sharknado & Debt
What do Jaws, Sharknado & Debt Payoff have in common? So glad you asked!
I’m reading Alter Egos by Todd Herman; and loving it. Heather Alice Shea recommended it to me and let me borrow it right off her bookshelf. There is soo much good stuff in this.
Today I am going to talk about what this book has to do with debt.
You may be aware of my ability to make anything a metaphor about money management and this is no exception.
Chapter 7 of Todd Herman’s book talks about the enemy and how the enemy, your enemy, draws its power from the shadows. That the problem comes from been unseen and unnamed.
He gives a great analogy of the movie Jaws and how the audience is scared and never sees the shark. You have the music build up, you see the woman in the water thrashing around and then she is gone. Never seeing the shark. And THAT is what makes it so scary. Think about sharknado was not as scary, right? We saw those things everywhere in that movie.
What if your debt is the same way? You ignore it because of fear, but you are giving it power because it is unknown.
There might be $15,000 in credit card debt or there might be $55,00 in credit card debt; not knowing is scary. You might be paying $300 a month in interest, or you might be paying $1,300. Not knowing is scarier; I promise you.
Once you bring your debt out of the shadows, name it (or in this case monetize it) you can start facing it.
Herman says that once you give something a name, an identity you then give it something you can defeat, something to overcome, something to battle against.