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Personal Finance Do’s and Don'ts Ft. Game of Thrones

As far as lessons in investing from Westeros go, Hot Pie really nailed it when he said, “See, a lot of people give up on the gravy. You cannot give up on the gravy. No gravy, no pie. Simple as that.” We’ll borrow from his words and say – “No investing, no financial future. Simple as that.”

Today, we’ll be taking a look at this and some other lessons from the world of George R. R. Martin, that can help shed some light on the important do’s and don’ts of personal finance management –

Do —

Okay, so we don’t hate ALL Lannisters. Let’s be honest, Tyrion carried the show! And he has some sound advice. You do not want debts piling up – as a rule! Imagine you are in debt already, and then you borrow more money to pay off the debt, and then you’re still in debt! Round and round the debt cycle goes – till you find yourself in a vicious debt trap, unable to regain your creditworthiness. Any debt you take should be repaid at the earliest to avoid being pummeled under this wheel! 

And on that note, Bonus Quote

Same, Dany. Same. 

Do –

The most disappointing statement made by Jon Snow – repeatedly! – is actually the perfect thing to say when you see “no-risk” investments asking for your money. Investments inherently carry risk. There might be options that offer low (or relatively lower) risk, but if someone offers you an opportunity to invest without any risk at all – you say – “I don’t want it.” 

Don’t –

Outrageous wealth or not – please figure out how to manage money, and not just spend it. We don’t disagree with Tyrion Lannister often, but we have to put our foot down with this one, guys! Don’t hate – he’s still our absolute favorite! 

Do –

Yeaaaah! The pack survives! (Seriously – team Stark here!). But you know why the pack survives? Because one wolf is spearheading hunts, one is incharge of the pups, one is the fighter, and another is the lookout for enemies! They are diversified in their strengths. Diversification is what saved the pack – and it is what will ultimately help you mitigate risks in the investment market as well. Don’t invest in one kind of fund or asset, instead spread out your investments to survive the white winds of winter – also known as a widely unpredictable market! 

Do –

See what we mean when we say Tyrion carried the show? He dropped so many gems of wisdom – we could do a whole write-up on just what we’ve learnt from him. This one really hits the nail on the head, for non-warriors in Westeros, as well as for investors in India. Knowledge is a powerful tool, and as such you need to make sure you are researching various investment options, and staying informed about the finance and investment markets – by leaning on reliable sources. Tyrion had his books – you have Wise Up with Deciml! 

 

Don’t –

Um. Jon Snow’s watch might have ended on account of a coup! But for you – the investing watch can never end! Investing means staying on top of things – all the time. And staying invested for longer, reaps more robust returns, capitalizing on the miracle of compounding to optimize your earning potential. So – when you’re at the investing Wall, you are the Night’s Watch – and you will remain so for the end of days! 

Do –

Ah! Ned Stark. He left us with the wisest words of all – “Winter is coming!” The Stark words that ultimately became a warning for all of Westeros – the arrival of trying times that the world needs to be ready for. In Game of Thrones he was preparing for a literal, brutal winter – and unknowingly for the White Walkers as well – but for our takeaway, this need only mean – be prepared for the worst! This is a good phrase to keep in mind when thinking about financial planning  because every now and then life throws a curveball in the form of emergencies or unforeseen expenses, which could benefit hugely from a contingency plan. This is an important one guys – we’re still broken up about the fact that poor Ned Stark didn’t have one. 

And those are our financial do’s and don’ts straight from George R. R. Martin’s pages, to your screens!

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