Game of Thrones: 6 money lessons

By: | Updated: April 21, 2015 4:28 PM

Game of Thrones Season 5 is finally here! While the residents of Westeros are busy planning, scheming and fighting for the Iron throne...

Game of Thrones, Game of Thrones season 5, Game of Thrones news, money lessons, Finance plan, House Stark, Lannisters, Viserys Targaryen, Tyrion Lannister, Tywin Lannister, Petyr Baelish, entertainment newsNatalie Dormer, left, and Jack Gleeson in a scene from “Game of Thrones.” (AP)

Game of Thrones Season 5 is finally here! While the residents of Westeros are busy planning, scheming and fighting for the Iron throne, we enjoy being a part of their world, in the comfort of our sofas. Fans can launch themselves into fantasy flights as the episodes unravel as much as they like, but we take this opportunity to touch base with reality in order to get the best of both the worlds – the fictional one and the real one. In short, what are the Game of Thrones lessons we can carry back to our lives that will make us rich?

The plot revolves around the desire to dominate the Iron throne. The characters have strong personalities and are either driven by love, money or power. So what is it that drives us in real life? Money is definitely a great driving force. It motivates us to do better, live better and go that extra mile. It’s not only earning but also managing money that makes people financially successful. We can definitely take cues from the Game of Thrones episodes and use those lessons to achieve our financial goals.

1. Winter is coming!
And then comes education, health, vacation and many other expenses. This phrase is the motto of the House Stark. Used as a warning and to keep people alert this Stark phrase reveals a lot about their philosophy. While some people may think that they are pessimists, they actually believe in being prepared for the future. They are aware of the changes happening around them and accordingly they put their act together. Similarly, we must also be aware of the changes happening due to new regulations, impact of various events, influence of a political situation, etc on our investments and plan accordingly. Whether it’s a job loss or a health issue, we should be able to sustain our lifestyle for a couple of months at least without cutting back on the necessities of life. Saving an amount equivalent to 3-6 months of expenses to sustain our lifestyle is a good enough saving amount.

Game of Thrones, Game of Thrones season 5, Game of Thrones news, money lessons, Finance plan, House Stark, Lannisters, Viserys Targaryen, Tyrion Lannister, Tywin Lannister, Petyr Baelish, entertainment newsFans wait for guests to arrive at the world premiere of the television fantasy drama ”Game of Thrones” series 5, at The Tower of London. (Reuters)

2. A Lannister always pays his debts!
These Lannister words are more famous than the official motto of the house, which is – ‘Hear me roar!’ Lannisters are often heard quoting these words with pride. Now whether a Lannister always keeps his/her word is questionable but further discussion can be a potential spoiler. The lesson to take away is when it comes to debts, think like a Lannister. Plan your repayments well in advance and take a vow to never default. Defaulting has a negative impact on CIBIL report and score. While institutional lenders in the real world rely on CIBIL reports and scores to evaluate customers more than vows, a vow to yourself will definitely reflect positively on papers.

3. The brave men did not kill dragons. The brave men rode them.
Words of Viserys Targaryen reveal a lot about how brave men think. While cowards embrace failure while accepting it as their fate, the brave are determined to tide over difficulties and achieve success. During times of recession or when the economy is down, many a time people lose hope. They give up on their long term financials goals and accept losses in panic. Tough times are to be dealt with a calm mind and courage in the heart. And to do that it is necessary to believe in yourself. Trust your abilities, the efforts you have put in research, the instinct developed over years and be brave in face of adversity. Think about opportunities to benefit from situations rather than giving up. So the next time you see the markets crashing look out for the stocks you always wanted to invest in. That’s the opportunity!

Game of Thrones, Game of Thrones season 5, Game of Thrones news, money lessons, Finance plan, House Stark, Lannisters, Viserys Targaryen, Tyrion Lannister, Tywin Lannister, Petyr Baelish, entertainment newsPeter Dinklage as Tyrion Lannister in a scene from “Game of Thrones.” (AP)

4. A mind needs books as a sword needs a whetstone, if it is to keep its edge.
Tyrion Lannister is intelligent and witty and that is exactly what protects him in spite of his physical shortcomings in a world where physical strength was important for survival. He is often seen with a book for company when wine and women are not around. His explanation is that reading is necessary to maintain a sharp mind. In the same way we must stay updated and relentlessly pursue knowledge to remain on top of the financial game. Whether it is reading informative articles, books or watching finance related videos, it is necessary to keep learning about the happenings in the finance world. Your hard earned money definitely deserves your time and attention.

5. The lion doesn’t concern himself with the opinions of the sheep.
Considered one of the most calculative characters, Tywin Lannister’s wise words come from experience. This is especially true when there are decisions we make but do not feel so confident about due to public opinion. We must feel confident about our thoughts and hold onto the idea even if people think differently – just like the lion, who does not concern himself with the opinion of the sheep.

6. What we don’t know is what usually gets us killed!
Petyr Baelish is an opportunist and has a scheming mind. These are his words. And precisely what we must keep in mind when money is involved. Whether it is making an investment, buying stocks or a real estate transaction, make the effort to get into the details and understand the whole deal; especially, the fine print. Enquire about hidden charges and evaluate the risk involved. Only when you are confident about what you are getting into should you part with the money. Let no transaction kill you, instead you should be killing it with profits!

When you play the game of thrones, you win or you die. However, in the world of finance it is possible to find a middle ground. Plan your finances, balance your investments in debt, equity etc. and evaluate the risk. Surprises and unexpected twists make the show interesting but when it comes to a real life finance situation ‘the well planned’ win the game.

By CreditVidya

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