3041: Sun Tzu’s Art of War Applied to Your Battle Against Debt by Simon Zhen with Financial Samurai

[00:00:00] Have you ever noticed how a calm mind can really set the stage for a good night's sleep? That's the idea behind our new podcast, Good Sleep. Greg, our host from Optimal Relationships Daily, is here to help ease you into a peaceful night's rest with some positive affirmations. And these affirmations aren't just comforting. They can help ease anxiety and nurture positive thoughts, setting you up for true good sleep.

[00:00:25] So press play on Good Sleep Tonight, because a good tomorrow starts with a good night's sleep. Just search for Good Sleep in your podcast app and be sure to pick the one from Optimal Living Daily. This is Optimal Finance Daily, Sun Tzus Art of War Applied to Your Battle Against Debt by Simon Zhen with FinancialSamurai.com. Quote,

[00:00:53] Every battle is won before it's ever fought. Sun Tzu This was the infamous line said by Gordon Gekko in the popular 1987 film Wall Street. Derived from Sun Tzu's Art of War, a 2400-year-old Chinese text on military strategy, the teachings of this tactical mastermind have proven useful in various aspects of present-day life besides warfare.

[00:01:22] Although Sun Tzu's Art of War is studied most religiously by military commanders, political leaders, and corporate executives, the concepts are scalable to conflicts as minuscule as your struggle with debt. Like in war, where the objective is to overcome the enemy resistance, it is everyone's goal to conquer their personal debt. Debt is the bad guy. We are the good guys.

[00:01:51] The road to financial independence is a righteous path where we'll have multiple encounters with debt, a merciless obstacle that seeks to consume us. Luckily, an old man from many, many years ago jotted down some powerful advice that might serve the purpose of securing a victory against debt. Universal Debt Teachings from the Art of War Debt is, without a doubt, a dangerous adversary.

[00:02:20] A vast majority of the American population acknowledges the risks of carrying debt, yet we peacefully welcome it into our lives. The failure to understand the depth of the matter is a major reason that so many of us become victims of debt. We must remain cognizant of the responsibilities of debt. Quote, It's a matter of life and death, a road either to safety or to ruin.

[00:02:50] Hence, it is subject of inquiry, which can on no account be neglected. Thus, it may be known that the leader of armies is the arbiter of the people's fate, the man on whom it depends whether the nation shall be in peace or in peril. End quote. Personal debt is influential in more than just our financial lives.

[00:03:13] It can alter lifestyles, sway career decisions, destroy relationships, and disrupt any sense of stability and comfort. Take it seriously because it truly could be a matter of life or death, not only for yourself, but also everyone around you.

[00:03:43] End quote. End quote.

[00:05:03] End quote. Now, in order to kill the enemy, our men must be roused to anger, that there may be advantage from defeating the enemy. They must have their rewards. End quote. You know the benefits of being debt-free. Fewer worries, less stress, and restful nights. To obtain these rewards, get angry at the very existence of debt. If you're keeping debt around, you don't hate it enough.

[00:05:34] Quote, Security against defeat implies defensive tactics. Ability to defeat the enemy means taking the offensive. Standing on the defensive indicates insufficient strength. Attacking a superabundance of strength. End quote. Progress is essential to the removal of debt. Minimum payments can only keep you afloat for so long.

[00:06:01] A defensive stance merely keeps debt from overwhelming you, which it will eventually do. Instead, tread forward. With every extra payment you make, you're taking back another inch of your life. Holding your ground against debt. Cheers to you if you've managed to defeat debt, but you're not in the clear just yet. We all know how easy it is to go on a reckless spending spree.

[00:06:30] The next thing you want is to have to repeat your hard-fought endeavors due to preventable mistakes. On future engagements with debt, Quote, The art of war teaches us to rely not on the likelihood of the enemy's not coming, but on our own readiness to receive him. Not on the chance of his not attacking, but rather on the fact that we have made our position unassailable. End quote.

[00:06:59] Keep your guard up, because debt remains a lingering opportunistic foe. You never know when an emergency brings debt back into your life. For most of us, it's inevitable that debt will crawl in and out of our lives. But in the end, with the right preparations, it will always leave. Quote, We are not fit to lead an army on the march unless we are familiar with the face of the country,

[00:07:28] its mountains and forests, its pitfalls and precipices, its marshes and swamps. If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained, you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.

[00:07:54] Thus, it is that in war the victorious strategist only seeks battle after the victory has been won, whereas he who is destined to defeat first fights and afterwards looks for victory. End quote. Know what you're getting yourself into. Know your financial habits. Know how evil debt can be. Take on consumer debt knowing that you have absolute confidence in your ability to kill it.

[00:08:24] Multipurpose Advice If you're thoroughly amazed at how a military text can be of such insightful relevance to your battle with debt, then you'd probably be interested in the entire text. The versatility of Sun Tzu's art of war can be extended to the other areas of our personal finances and the daily undertakings of our eventful lives. With an open mind and some creative thinking,

[00:08:50] you'll find even more precious wisdom that'll be advantageous to your war with debt, including more lessons applicable to many other situations. Sun Tzu wishes you triumph and glory on the battlefield. You just listened to the post titled, Sun Tzu's art of war applied to your battle against debt,

[00:09:17] by Simon Zen with FinancialSamurai.com. You sign up for something, forget about it after the trial period ends, then you're charged month after month after month. The subscriptions are there, but you're not using them. In fact, I learned that 85% of people have at least one paid subscription going unused each month. Thanks to Rocket Money, you can see all your subscriptions in one place and cancel the ones you're not using anymore, saving more money.

[00:09:46] Rocket Money is a personal finance app that helps find and cancel your unwanted subscriptions, monitors your spending, and helps lower your bills so you can grow your savings. See all of your subscriptions in one place and know exactly where your money's going. Rocket Money has over 5 million users and has saved a total of $500 million in canceled subscriptions, saving members up to $740 a year when using all of the app's premium features.

[00:10:16] Cancel your unwanted subscriptions and reach your financial goals faster with Rocket Money. Go to rocketmoney.com slash OFD today. That's rocketmoney.com slash OFD. rocketmoney.com slash OFD. Some people purposely take on debt for very specific things like investing in real estate or securing loans to start a business. But we're not talking about that kind of debt in this article.

[00:10:43] The vast majority of us get in over our heads with debt because we aren't that intentional about it. We don't understand the debt we're taking on, and we don't have a clear, well-thought-out exit strategy either. We're either living beyond our means with credit cards and don't have proper money management habits, or we took out student loans that we didn't understand at 18 years old.

[00:11:11] Student loan debt might be the type of debt that makes me the most sad, because many of us naively believed that we would be able to afford the payments from the jobs we'd get after college, and then later learned that it's not that simple. But nevertheless, it's still an issue that needs to be dealt with. And I think the thing that helped me squash my debt so quickly is that I started to see it as an emergency.

[00:11:37] In order to battle compound interest working against you, and this is specifically for credit card debt, you need to act quickly. Aggression is the name of the game here, because this is war after all. This article reminded me of Nesima McElroy, who has a platform called Financially Intentional. She refers to herself as a debt slayer, because in just three years,

[00:12:06] she dug out of a million dollars of debt. That should do it for today. Have a happy rest of your day, and I'll see you on the Sunday show tomorrow, where your optimal life awaits. Many of the families I want. You Thank you.