The Squid Game: What did it teach us about good money management?
Although "The Squid Game" presents a fiction that abuses the vulnerability of people who have been bent by their financial problems, it is an opportunity to reflect on how to prevent or mitigate the impact of a crisis situation.
Editor's Note: This note may contain some spoilers.
The Squid Game is a South Korean series that has been talking about in recent days. Although it was released just last September 17 through Netflix , it has already positioned itself as one of the favorites of the public due to its disturbing plot.
The story directed by Hwang Dong-hyuk and thought for more than 13 years is about the lives of 476 people who, drowned in debts and desperate for not being able to pay them, agree to participate - and try to survive - in six children's games, where the winner you will get a very large sum of money.
Beyond the drama, suspense and uncensored violence, this installment provides us with some messages about the importance of taking care of our finances , the anxiety that economic problems can generate and the chain of unfortunate decisions we can fall into.
- To know more: The man who was in financial trouble and spent his time in cafes writing 'The Squid Game'
Although The Squid Game presents a fiction that abuses the vulnerability of people who have been overcome by their financial problems, it is an opportunity to reflect on how to prevent or mitigate the impact of a crisis situation.
Avoid being a 'candidate' for the second season
As we saw throughout this season, the mismanagement of capital - coupled with the social and cultural problems that each character faces - can also have repercussions not only on personal health, but also on that of the people who are all around us.
Simon Dalgleish , director of M2Crowd , a real estate crowdfunding platform, uses the phrase "better safe than sorry" to compare the extremisms of the series with real life. To prevent debt from exceeding income , here are some tips:
- Reduce unnecessary expenses. Such as 'snacks', cigarettes, soft drinks, bottles of water or even services that are not necessary or used very little.
- Organize our finances. A simple model for you to manage your capital is to use the 50-30-20 rule. The priority is to allocate 20% to an investment or savings; 50% to basic needs and 30% to personal tastes.
- Have an emergency fund. This can be taken from the money that is destined for savings. As with several characters in the series, when faced with illnesses or special cases, they cannot finance a service.
Seong Gi-hun —the main character of the series— asks for loans without first analyzing if he will be able to pay them / Image: Netflix
To get out of debt
Several of the characters in The Squid Game receive constant calls and are harassed by any means to pay off their debts. If you start to accumulate interest or even fall into an overdue portfolio, this is not something you can solve overnight. However, with planning, discipline, and order, you can return to balance.
- Analyze how much you have to pay. Seong Gi-hun —the main character of the series— asks for loans without first considering whether he will be able to pay them back. In this regard, Dalgleish recommends defining how much real money you have to settle your accounts .
- Find an extra income. As we saw on screen, running away is not the solution. Take your time on extra work or a small enterprise that will generate profits to advance your loans. Be careful: Do not get into debt to pay off others.
- Let despair not consume you. Do not resort to lenders or intermediaries, as it can be counterproductive and be a scam . Another practice to avoid is pawning or selling things and running the risk of losing our assets or miscarrying them; or even, as seen in the series, there are also those who think that the solution is achievable by a 'stroke of luck', playing the lottery.
- Do not fall into the trap of 'the gustitos'. Most of the people who do not get out of their debts have the habit of accepting loans while paying some others, so it only increases their debts and lengthens the period of their payments.
If your earrings finally represent less than 30% of your income, maintain good habits as you can control your finances, keep them in order and pay for your services in a timely manner. In the long run, having good management will give you more fruit and emotional peace of mind.