Lexington, KY - Books on personal finance bore most of us to death. So, why not use a figure raised from the dead - the zombie - to teach us how to resolve financial problems?
Lisa Desjardins and Rick Emerson's Zombie Economics: A Guide to Personal Finance advances the metaphor that dealing with financial problems for many of us is parallel to surviving a zombie invasion. Their goal is to help "Slay Your Bills, Decapitate Debt, and Fight the Apocalypse of Financial Doom."
Between battles, they do a superb job of entertaining. This Night of the Living Dead approach to finances is probably unlike any you've ever read - and perhaps more effective.
The authors define zombie economics as the theory that every skill needed to survive a financial downturn is the same needed to survive a zombie apocalypse. While apocalypse may include recession and world economic collapse, it also applies to any personal financial situation. A zombie economy can happen with the loss of a job, too much credit card debt or other financially related events.
Each chapter opens with a compelling narrative: You are one of the few survivors of a zombie invasion. You must urgently build a skill set to do battle with the enemy, with your very survival at stake. No one is coming to save you - you must save yourself.
The first crisis is the zombie on the back porch - that pile of bills, including every debt, loan and missed payment. Like zombies, if ignored, they attract more of their own kind. Next, you must arm yourself and block all the windows by painstakingly identifying all your debt and income. You must face the zombie hoard by using the weapons of budgets and income statements.
The best line of defense against the financial zombies is to have a basement full of ammo - money in the bank. Savings is your ammunition stockpile. While it sounds boring to follow the adage of "pay yourself first," life can become very exciting when you have an emergency and no money. This kind of excitement, the authors suggest, is overrated.
The authors' advice may go against some of your ideas of work. In the chapter "Don't Go in the Graveyard," they suggest keeping a job no matter how much you hate it. In the best of economic times, finding a new job takes 16 weeks on average. During a recession, it averages 34 weeks to a year. Stay until something better comes along.
"They'll Eat the Fat Ones First," is a novel approach to fitness as a financial imperative. "If you smoke," the authors state, "you're doing the zombies' job for them." The same is true if you abuse drugs, alcohol or Twinkies. Your finances and health are intertwined. Loss of health equates to loss of finances.
The zombie economy is infectious. You need to be aware of people in your life who are financial zombies, lest you become infected as well. These are the individuals who continually shop, buying the latest phone or gadget, and yet are in a precarious financial state. If you are living with or even married to a zombie, you need to consider some solutions. You cannot be responsible for the behavior of the infected.
In your battle against the zombies, "never give up, never give in." Remember that no one is coming to save you. There is no quick fix for your financial security; it takes years. Following zombie economics means fighting. It also means living for tomorrow while focusing on today. While there is no escape from the zombies, there are definite tools that can help ensure your long-term survival.
In particular, the authors focus on debt as a major problem of the zombie plague. "Remember: Debt is a rusting hinge. Debt is a broken window. Debt is how they get in," the authors note.
Zombie Economics is an insightful baseline look at dealing with the uncertainties of finances. The ingenious narrative of battles with zombies juxtaposing financial directives is fun and compelling. The book offers simple guidelines and techniques for creating strategies for financial success. It seems particularly timely for Millennials, who understand the zombie metaphor well and are just beginning to face their own financial realities.
It is also a terrific read for anyone wanting to understand the real cost of financial carelessness. Remember, the zombies are coming - and you must save yourself.