5 finance lessons to learn from Game of Thrones
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5 finance lessons to learn from Game of Thrones

  • Highlights

  • Trust your financial advisor or the scheme implicitly

  • Don’t let emotions influence financial decisions

  • Be financially prepared for the worst situations

  • Create a will so only the right people can claim your wealth

As you wait for the penultimate season of this epic saga, it’s only natural to want to revisit the past seasons of Game of Thrones, analyse the character arcs, brilliant performances and clever plot points. While you take a trip down memory lane, here’s something you probably didn’t know: Since Game of Thrones is all about strategising and playing your cards carefully, it has got some great financial advice to offer you too.

So, take a look at the 5 financial lessons that Game of Thrones has for you.

1. Don’t undervalue trust

Watching even a few episodes of Game of Thrones will tell you that betrayal and deception are themes that you’ll spot in every episode. Unfortunately, it is possible to be swindled out of your hard-earned money in real life too. So, it is imperative that you don’t trust anyone or anything without conducting a thorough check. Be it a savings scheme, investment instrument or the policy document of a loan—always be sure to do your own research and ask plenty of questions to verify the authenticity of the scheme that you’re signing up for. The same rule applies to financial advisors too. You must do your due diligence to ensure that this advisor has your best interests at heart and is qualified to manage your finances.

2. Keep emotions at bay

If it’s one lesson that you learn from Game of Thrones, let it be this: don’t let your emotions cloud your judgement. Remember how badly it ended for Robb Stark when he chose to marry his true love despite his deal with the Freys? It’s a prime example of the harm emotions can do if you let them supersede reason and logic. This same rule applies to your finances too. All your decisions must be based only on facts and nothing more. This will ensure that you don’t end up making mistakes that will cost you your savings.

3. Be diligent with debt

‘A Lannister always pays his debts’ is a line you’re sure to have heard time and again over the course of the many seasons of Game of Thrones, and for good reason too. It’s advice that holds up in real life just as soundly as it does on screen. While debt on the show can even mean a favour, for your finances it simply means being responsible with any debt that you take. Pay it on time and as quickly as possible to ensure that you have complete control over your finances. What’s more, this approach will also give you a solid credit score that will come in handy should you need credit in the future. It will depict that you have an excellent track record with borrowed funds and hold you in good stead.

4. Always be prepared

The biggest lesson is hidden in the phrase ‘winter is coming’, which Game of Thrones has come to be synonymous with. What’s the financial lesson here? Be prepared for the curveballs that life throws you. So, in essence, it means that you should save and invest diligently. It will give you the financial means to tackle any obstacle that comes your way.

In this regard, the earlier you begin, the better prepared you’re going to be, not to mention financially secure. So, look at a mix of high- and low-risk investments that you can park your savings in each month. A Fixed Deposit from Bajaj Finance, for instance, is an excellent way to build a corpus that you can use to finance your goals, retirement or to purchase an asset. It offers 100% security as it has a high credibility rating and isn’t linked to the market. In addition, interest rates are as high as 8.75% and you can choose a tenor of your choice, which means that you can tailor your investment. So, find a mix that suits your financial goals and don’t neglect saving or investing.

5. Give estate planning serious thought

As a viewer, you’re sure to have felt helpless and aghast when Robert Baratheon’s son, Joffrey came to power and wrecked havoc with the lives of so many. The important lesson that you can take away from this instance that you have no control over what transpires once you die. So, to ensure that your finances benefit the right people at the right time, be it your children, spouse or other family members, be sure to create a will, take stock of your assets and investments and clearly draw up a document stating who will receive what. This way you can avoid your family any hassle and ensure that there is no ambiguity that outsiders can take advantage of.

So, while Game of Thrones may seem far removed from reality, the truth is quite the opposite. It is filled with lessons that you can apply to your own life and these 5 financial tips are the best of the lot.

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