Find out your financial personality type.This may be the least obvious money lesson in Squid Game, where in the first episode the game’s salesman makes out that a simple phone call and a love of games are all Gi-hun needs to make serious money and clear his debts. Huge, guaranteed or easy returns on a particular fund, stock, cryptocurrency or property do not exist. When it comes to investing, if it sounds too good to be true then it probably is. It can certainly give you a better chance of outperforming inflation and growing your money. This is why investing money you don’t need (remember, money you need is in your rainy-day fund) in the stock market might be a good option. According to the 2019 Barclays Equity Gilt Study, the stock market has outperformed cash in 69% of two-year periods and 91% of 10-year periods. Keeping too much money in a low-interest savings account will be erode d by inflation. Once you are in a position to build wealth, it is necessary to take some risk. Get support from one of the free debt charities such as StepChange and the National Debtline. In Squid Game, we see several characters being harassed by all means about their debts and how scary it is, at one point discovering a torrent of phone texts from the authorities. Remember, debts cost more in interest than savings earn in interest.ĭo not suffer in silence about debt. While it is important to have rainy-day savings, it isn’t usually a good idea to prioritise additional savings over reducing debts. Gi-hun, for example, wins big after betting on horses but decides to run away from his debt-collectors - only to have his winnings stolen. All the players choose to return to the game because they are in debt - and have missed opportunities to pay it off. Second, prioritise paying off any credit card debt or unsecured loan - probably the most obvious money lesson in Squid Game.
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