Currently one of the Netflix series that stirred the world of Squid Game, a series from Korea. Squid Game itself is a survival thriller genre that gives us many important lessons about finance which we can apply in life.
What financial lessons can we take from the Squid Game series?
Here's the full explanation!
1. The Importance of Having Insurance
No wonder there are still many people out there who are not insurance literate. Even for them insurance is not a top priority even though it is clear that if we have insurance it will really help us cover unexpected costs for example hospital treatment costs, vehicle repair costs, and others.
Like the Squid Game series, Gi Hun's mother urges him to go home because he doesn't have enough money to pay his hospital bills. Gi Hun knows that insurance can cover medical expenses at the hospital but is unable to pay premiums regularly.
You need to know, to have insurance you have to pay a premium every month. Who said insurance premiums are unaffordable? Super You is here as a digital insurance solution with affordable premiums. Starting from only IDR 30 thousand per month you are already protected!
Remember, insurance is important. Not to burden our finances but to guarantee our future.
2. Invest Wisely
In one of the Squid Game scenes, a friend of Gi Hun's said "don't put your eggs in one basket". Nowadays people can invest in various instruments, but there are also those who only invest in one instrument. The most important thing in investing is that we must understand well what the risks are.
Investments can be in the form of gold, property, stocks, mutual funds, and others. If we take an investment instrument that is too high, the risk we have to face is also higher. We may lose our investment capital and not get any profit. You must have said in the investment world "high risk, high return".
In the Squid Game series, we can learn from Sang Woo, not to suffer losses because he was the one who lost his investment and embezzled company funds. So, be wise in investing. Insurance is also one way of investing for our future, you know. We know how to manage finances well.
3. Don't Get Stuck in a Momentary Desire
You must have heard of "distinguish between wants and needs". Yes, not even a few of us are more concerned with wants than needs. So we are not wise to manage finances. For example, Gi Hun is addicted to gambling because he thinks gambling is a way to overcome financial problems. Losing gambling actually made him into debt.
Instead of gambling, you can try investing in the right instrument, right? according to the condition of your pocket. If a loan shark approaches you because of a debt that you can't pay off, it will definitely trouble you. Also read, 11 ways to pay off accumulated debt.
4. It is important to have sufficient income
The first episode of the Squid Game series, Gi Hun asks his mother for money. Gi Hun's money is not used to buy gifts for his son's birthday but is used for gambling. From this case, we learn that if we are experiencing financial difficulties, never spend money on useless things. We must be wise in managing income and earn income in the right way, not by gambling.
5. Don't be greedy
Greed doesn't make you calm. For example in the Squid Game series, in addition to having difficulty managing finances wisely, Squid Game players must also be able to survive for the main prize of tens of billions of dollars.
In the end, the winner of the game was not happy even though he came home with billions of dollars. The spirit to get money, but if in a way that is not right and makes us greedy, it is not happy but not calm. In fact, many players were eliminated because of the motivation of greed.
6. Stable finances need a long process
Everyone dreams of having a stable financial condition, not being trapped in debt, being able to have investments for the future and of course living happily because of sufficient savings for daily needs. Also read, 5 saving tips for those of you who have difficulty saving.
But in the Squid Game series, it teaches us that getting financially stable is not an overnight job. It is a long process and hard work. You can watch many games that require them to work as a team, not be greedy, work hard, and wait patiently for the process.
7. Appreciate the hard work
Even though Gi Hun looks unhappy when he wins the game and has billions of dollars, there is something else we can learn. What Gi Hun does is one of the ways he tries and works hard to earn money. When we get some money from our work, we should be able to use it for our lives, for example buying insurance products, investing, building a business, or other things. Don't forget to do charity too, guys.
Another thing we can learn is that money is not everything. There are many things we can do to be happy in life. It's not just about money. For example, at the end of the episode, when Gi Hun has a lot of money, he doesn't feel happy.
Those are some important things that we can learn from the Squid Game series to help us become aware of good financial management.
This October, we are also commemorated as Financial Inclusion Month (BIK) where we are encouraged to be wiser in managing finances towards good financial system stability and contribute positively to supporting economic growth. This BIK also aims to reduce inequality and the rigidity of the low income trap, so as to improve people's welfare which ultimately leads to a reduction in poverty levels.
