It’s Shark Week this week! Can you believe that Shark Week has been in the running for 25 whole years? Me either! We Americans have been absolutely fascinated by sharks, especially the Great White Shark, ever since the debut of the movie Jaws and we still have a great deal to learn about these mysterious creatures. And it turns out that sharks can teach us a thing or two as well about how to approach our finances when getting out of debt.
Use your senses – Great Whites have very excellent senses which make them very effective creatures in the water. They can detect sound waves, sense vibrations and smell blood from miles away. And when they’re close to their prey, they use their sense of taste to determine if indeed, the prey is worth consuming in its entirely. That’s why shark attacks on humans often consist of only one or two chomps — we’re not their natural prey!
Just like sharks, we humans need to have our senses about us on our journey out of debt. You know that ad on late night TV that promises to cut your debt in half if only you pick up the phone and dial the magical number? Or how about that investment scheme that let’s you double your money in just weeks? Learn to trust your senses and know that if a financial offer seems like it’s too good to be true, it probably is.
Don’t be intimidated – The Great white shark is one bad lean mean killing machine. It is arguably the world’s largest known macro-predatory fish and it is one of the primary predators of marine mammals in the Ocean. It is not scared of anything. Anything at all. Well, except, maybe killer whales. It’s a little scared of those. So the next time you look at the amount of debt you have to pay off and find yourself a little weak in the knees, channel in your inner Great White and don’t be intimidated by it. Do something about it instead. Sign up for ReadyForZero (if you haven’t already done so) and get a personalized debt payment plan to pay off your debt once and for all.
Keep moving forward – The Great white needs to constantly keep swimming in order to breathe and live. It is an ‘obligate ram ventilator’ fish. That means that it’s necessary for them to keep moving forward so that they can ‘ram’ oxygen containing water through their mouths and over their gills to keep breathing. Take a cue from the Great White and internalize that it is crucial for you to keep moving forward and get out of debt to build wealth and ensure the security of your financial future.
Always have an emergency fund - Great white sharks, like many other sharks, have several rows of serrated teeth behind the main ones. If, during an attack, they lose some teeth, they don’t sweat it. They simply reach back into their emergency fund (of teeth), let the back up teeth replace the lost ones, and go about their business. When you’re trying to attack your debt, the last thing you want is for a financial emergency to get you deeper in the hole. That’s why most financial experts encourage you to build up a small safety net of savings comprised of a few months of living expenses before you start to seriously tackle your debt. That way, if an emergency happens that sets your finances back a bit, instead of getting further into debt, you can fall back on your savings and keep fighting on.
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When you woke up this morning, I bet you probably didn’t imagine that you’d be learning important financial tips from sharks! But that just goes to show the power of Shark Week.
Can you think of any other tips we should learn from Great Whites? Let us know in the comments below!
Image by hermanusbackpackers