Most of us have been in debt at some point in our lives.
Student loans, home loans, car loans, business loans - debt seems like a normal part of the 21st Century life.
Despite that, debt is still associated with shame.
We’ve been socialized to believe that our debt is something we need to be ashamed of, that there’s something inherently wrong with us if we have to pay off loans.
Which means we treat debt like a dirty secret. And it’s something we never talk about.
Today, we want to break free of those shackles and discuss, demystify, and unpack the concept of debt.
We got the idea for this episode when we were speaking with a client of ours who was in debt from a previous business. It was extremely hard for her to not only bring this up in the first place, but to also continue talking about it.
Why?
Because the mere mention of her debt made her feel inadequate. She was making her debt mean a lot of negative things about her and her capabilities as an entrepreneur.
This is why we want to say something loud and clear:
There is NOTHING wrong with you if you’re in debt.
In fact, you’re not alone.
When you genuinely accept this, you’ll find that your mindset towards debt begins to change.
You’ll start seeing debt for what it is - a neutral concept where you buy money to pay for something of value to you.
That’s all.
Once you make this mindset change, not only will you be happier, but you’ll also have the confidence to make some important decisions that involve parting with your money.
But, we know it isn’t easy to undergo this massive mindset shift.
Which is why in today’s episode, we’re sharing our own experiences with debt, what we learned from having to pay off 6 figures in student loans, why we think debt can be a good thing, and more!
Here’s a peek at what else we discuss:
- Jeni'ss journey with educational debt and how it informed everything she did
- Why you need to look beyond debt to make important decisions for yourself and your business
- Why it’s so important for women to unpack their thinking around debt
- How to consider value and opportunity cost when you decide if your debt is worth it
- The connection between privilege and debt
And so much more!
We believe talking about money and debt is a crucial part of attempting to demystify it. So, we’re taking the first step, but we’d love to keep the conversation going! Find us on Instagram (@heymarvelous) and talk to us about your experiences with debt and what your mindset around it is currently.
Resources
- Hey Marvelous - Website
- Hey Marvelous - Instagram
- Women À La Mode: A Memoir Of Writing A Book About Feminists In Paris by Augustine Blaisdell
This week’s Joy:
We love a good book, and Women À La Mode by Augustine Blaisdell is a great exploration of feminism in Paris, the conflict between feminism and falling in love, and the difference between American and French life. Reading about feminism through different perspectives is always a huge joy!
This week’s Hustle:
If you’ve been listening to us for long enough, you already know that our business grew exponentially in 2020. And as our business grew, we found that we had to do more high-level work, like managing systems or training employees to handle this new workload.
This podcast is brought to you by the Marvelous online teaching platform.
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