According to Ted Sarandos, Netflix’s co-CEO, the South Korean TV series “Squid Game”, has been at the top of the Netflix charts since its release. This puts it on track for being one of the most successful shows on Netflix. Since its September 17 international premiere, the series has been a hit online.
For those who aren’t familiar with the film, it’s about hundreds of debtors who accept an invitation to play in a children’s game for a chance to win a prize of 45.6 billion Korean Won (approximately $28.6 million).
It was a fascinating movie that was equally filled with suspense and anxiety. There are some financial lessons to be learned from this series.
Many people are compulsive gamblers. They will risk anything they love in the hopes of winning something more. One aspect of this was clearly shown in the film when Squid Game’s main character has a gambling addiction to horse racing. The majority of the contestants in the film gambled with the intention to quickly get rich. Squid Game reminds us of the fact that there are no quick riches. It takes time for personal wealth to grow. Let the process unfold. Gambling can have a negative impact on our lives. It can lead to loss of savings, accumulation debt, and even lead to an addiction to theft or fraud.
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Secure your financial information
Your financial accounts must be protected as your first priority. You worked hard to earn this money. These protections include not sharing your financial information over the phone, email, or in person; not clicking suspicious links or downloading apps and attachments from unknown sources; not connecting with unsecured wifi; and finally, not using important dates or personal phone numbers for password. Squid Game featured a scene in which a contestant took his mother’s ATM card, and used his daughter’s birth date as the correct pin. This scene is an important reminder to not trust anyone and to dearly protect all your financial accounts/information. It is essential to obtain a PIN to make it more difficult for someone to steal your money. To protect yourself from hackers, create strong passwords and keep them safe.
Get rid of the debt
While debt is not an enemy or a burden, it can be used to help you. When you borrow or have debt, it becomes an enemy. Because the interest keeps rising, this often leads to more debt. The movie teaches us a lot about money, including how to pay off our debt. All of the players were faced with financial difficulties because they owed debt.
One example is a player who was compulsive gambler and had won a large sum of money betting. He decided to flee from his creditors and instead of paying off his debt. He would not be interested in playing the game if he knew how to pay the debt he won.
Prioritize health insurance
They said that health is wealth. No matter how difficult it is to live a normal life, it’s important to take care your health. Health insurance is crucial. Although you might believe that you are in good health today, a life or health insurance policy can pay for expensive medical care in an emergency. Because you believe you are safe, you probably didn’t get car insurance. You are just one bad day away of the worst-case scenario. You can protect your financial future by purchasing insurance. This was shown in the movie because Seong Gi-hun was caring for her mum who was suffering from diabetes. She was recommended to stay in hospital so she could be properly cared for by the doctor. They did not have any insurance so she had to leave. His son cancelled his insurance and spent the money lavishly. Seong Gi-hun was sad that he couldn’t help his mother receive the medical care she needed. Insurance is crucial because it would have taken away all the stress.
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Every penny saved is a penny spent, so choose wisely
Squid Game is a story about people who are struggling to make ends meet because of poor decisions in their lives. Being able to spend wisely is about having the confidence and knowledge to get the most out of your money. It doesn’t matter what your income, it is important to avoid overspending. Spend wisely and you will find more ways to save money and grow your wealth.
Request financial assistance
Many characters in Squid Game live in denial about financial situations or attempt to solve their problems on their own, only to find themselves deeper into debt. Many people are reluctant to share their financial difficulties before it is too late. Although asking for help can feel intimidating, embarrassing, and difficult, you should be able to communicate your needs with the people you trust.
Squid Game demonstrated that your decisions will ultimately affect your future, regardless of how small they may seem. If you don’t feel desperate, it is worth changing bad financial habits to live a debt-free and healthy financial life.
Darrent is a digital marketer, tech enthusiast & blogger.