Best-Selling Author, Shereen Reeves: Dropping the Bomb On Debt

Debt is such an ugly word, haunting more than 80% of the United States population. From credit cards to student loans, most people spend a lifetime climbing their way out. If you really want to get out of debt, there is now a way to not spend a lifetime doing it. Just ask the best-selling author of “Drop the Bomb: A Guide to Get Out of Debt and Stay Out of Debt,” Shereen Reeves.

A native of Michigan City, Michigan, Shereen Reeves found a way to get out of debt and remove debt from her personal vocabulary. And yes, while that seems impossible since having credit is vital to the credit score, her book breaks down debt in such a way to shift the way you spend, the way you prioritize your finances, and redefines financial freedom.

I had the pleasure of speaking with Shereen Reeves and picked her brain a little about financial literacy. I was so moved and inspired that it made me look at debt from a different angle. May you find the inspiration through her words to not just purchase her book but change your life.

I am so excited to be speaking with you today. What made you decide to become an advocate on debt?

Growing up, I would have never imagined how my upbringing would play a role in what I have become today. I have been around people who had very little, and I have been around very wealthy people. The similarity of the two types of people is that each arrived at a place financially based upon decisions made or circumstances they were exposed to (whether good or bad, seen or unforeseen). I have learned that both groups of people think very differently, and therefore have received different results.

You are the Best-Selling Author of “Drop the Bomb: A Guide to Get Out of Debt and Stay Out of Debt” Do you think there is a systemic bias on how we spend in the black community? If so, how do we address what we have internalized as a potential spending problem in the black community?

I have often asked myself why we as a community have a mindset for faddish and name brands. I have prayed about it because I had a yearning desire to know and eventually found a short movie clipped that answered my question. The movie was titled “How to Sell to the Negro.” It was made in the 1950s, and I believe it is still relevantly true today as it pertains to the way I use to shop. When I was delivered from what other people thought, my family became debt-free.

To address what we have internalized as a potential spending problem in the black community, we must educate people by being transparent and letting them know your true struggles, and then giving them the road map on how this can become a reality.

What inspired you to write this book and what do you hope people would learn most from it?

Before I became an author, I was already giving classes educating on financial freedom and being debt-free under the umbrella of a renowned financial advisor. People would text, call and email me just to share their financial stories. I had more stories than I knew what to do with.

My husband and I desired to become debt-free so bad, we sold our BMW. I wanted to sell the Infinite as well, but my husband said no. I appreciated him stopping me in my tracks because it was an awesome experience and process during our debt-free journey. My husband and I began to pray, and when we had finished, I shared with him what God had placed in my spirit to make additional payments towards our mortgage each week. We did just that, and it resulted in changes that affected our lives and generations to come.

How can we empower the next generation to be more cognizant about debt and financial management?

The way we change the next generation is through education. Educating the entire household and not just the parents (adults). Our children should be educated on financial management early on in life to help them prevent financial errors that we have encountered.

How does the fact that you are from a minority community help you in assisting others to overcome debt challenges?

Because I can relate to and identify so many people on many different levels, I believe they will look at me and tell themselves, “if she can do it, I can do it too.”

What is the one thing that you wish the Black Community understood about building wealth?

You cannot build wealth if you owe everyone and their brother. Think about a water hose to water your grass. Each bill you have is a knot in the water hose. If you cannot water the grass, then it will die. If you cannot put money away, place it in a 401 K or invest it, you will wake up one day and wonder what happened. As you pay off your debt, the knots in the water hose become unraveled. Once they’re all paid off, you can water your grass freely, preventing it from dying.

What is next for you?

I want to travel all over the world hosting conferences, workshops and retreats as I continue to motivate people to live this life called DEBT FREEDOM!!!!!

Want more information? Connect with Shereen Reeves at: debtbombdr@gmail.com