South Korean TV series “Squid Game” has been number one on Netflix since its release, making it one of the highest performing shows in Netflix history, according to Netflix co-CEO Ted Sarandos . The series has been buzzing online since its international premiere on September 17.
If you’re wondering what most people who haven’t seen the movie are talking about, the show is about hundreds of debtors who accepted a bizarre invitation to participate in a children’s game to win a tempting $ 45.6 prize. billion Korean won (approximately $ 38.6 million).
The film, without a doubt, was quite intriguing and just as steeped in suspense, anxiety and dread. Nonetheless, there are financial lessons absorbed from this series, and they are as follows.
Avoid the fast rich scheme (game)
It’s not news that many people have become compulsive gamblers and are willing to risk something they enjoy in anticipation of getting something bigger. This is an aspect that was seen in the movie because one of the main characters in Squid Game has an addiction to the game of horse racing. Most of the film’s contestants entered the game with the idea of getting rich quick with little to no effort. Squid Game reminds us that there is no such thing as rich quick schematics. Personal wealth takes time to grow. Authorize the process. Gambling can be detrimental to our lives, leading to losses, depleted savings, accumulated debt and sometimes leading to relying on theft or fraud to support one’s addiction.
Secure your financial information
Protecting your financial accounts should be your top priority. Remember, you worked so hard to make this money. This protection includes the following: not disclosing your financial information to anyone over the phone, email or in person; do not click on suspicious links or download attachments and applications from unknown sources; do not connect to unsecured wifi and finally avoid using important dates and personal phone numbers as a password. After watching Squid Game, you will notice a scene where a participant stole her mother’s vending machine card and entered her own daughter’s date of birth as the correct PIN code. This scene is an important reminder to trust no one and dearly protect all of your accounts / financial information. It is imperative to obtain a PIN code which makes it more difficult for anyone to steal your money. Create strong, separate passwords and store them securely to protect yourself from hackers online
Pay off the burden called debt
Debt in itself is neither an enemy nor a burden. Debt or borrowing that leads to debt becomes an enemy when you use it unproductively or when you cannot pay it back regularly when due. This usually leads to the accumulation of more debt because the interest keeps skyrocketing. Paying off the debt is one of the essential money lessons from the film. All of the players in the game were facing financial challenges due to debt.
One example was one of the gamblers who was a compulsive gambler who had won a huge amount of money by betting. Instead of using this money to pay off his debt, he decided to run away from his debtors. Assuming he was smart enough to pay off the debt he earned, he wouldn’t be keen on playing the game at first.
Favor health insurance
Health, they said, is wealth. No matter if you are struggling to survive in life, taking care of your health is crucial. This is why health insurance is essential. You might think you’re healthy today, but a health or life insurance policy can help pay for expensive medical services in an emergency. You have probably ignored auto insurance because you think you are a safe driver. Remember, you are only one bad day away from the worst case scenario. Consider protecting yourself financially with an insurance policy. This was seen in the movie when Seong Gi-hun’s mother had diabetes. The doctor suggested that she stay in the hospital for proper care. She had to leave the hospital, the reason being that they did not have insurance coverage. This is because her son canceled the insurance and spent the money wildly. This fight Seong Gi-hun had with his mother made him sad because he couldn’t help his mother get the medical help she needed. This is why insurance is essential, because it would have taken all that stress away from him.
A penny saved is a penny earned, so spend wisely
Squid Game tells the story of people struggling with finances due to bad choices in life. Spending wisely means having the knowledge and confidence to get the most out of your money. Regardless of the size of your income, not overspending is a critical habit to develop. If you spend wisely, you’ll find more opportunities to save and grow your finances instead.
Seek financial support
In Squid Game, many characters live in denial about their financial situation or try to solve problems on their own, only to dig a deeper hole for themselves. Most people don’t share their financial difficulties until it’s too late. Asking for help can seem difficult, intimidating, and embarrassing, but you need to know when and how to ask for help from those around you if you need help.
In conclusion, Squid Game showed us how your choices will ultimately determine your future, no matter how small. So, if you don’t want to be so desperate, consider changing your bad financial habits and start leading a healthy, debt-free financial life now.