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5 Money Lessons from HBO's Game of Thrones You Should Keep In Mind

Violence, intrigue and sex—Game of Thrones has these in spades. But the critically-acclaimed HBO medieval fantasy series also shares nuggets of financial wisdom.

1. Winter is coming: be prepared

winter

Viewers should take the cue from this ominous warning repeated by inhabitants of Westeros throughout the series. To prepare for unforeseen expenses or emergencies, allot a part of your monthly paycheck—ideally at least 10%–for deposit into a savings account. Any extra income you earn can also be deposited in your Rainy Day Fund (or, should we say, your Winter Stash).

2. A Lannister always pays his debts: and so should you

tyrion

Wise advice from these multimillionaires of Westeros who know a lot about leveraging debt, whether the personal, political or financial kind.

If your debt adds up faster than you can pay it off, you’re probably living beyond your means. Credit cards can become treacherous “debt traps”, so make sure to track (and control!) your credit card purchases. If your credit card debt piles up, stop using your credit cards and pay off existing balances as soon as possible to avoid additional penalty charges and interest payments.

3. The Rains of Castamere: be in control

tywin

The Lannister clan secured immense power and wealth through the calculating, controlling and ruthless leadership of Lord Tywin.

Take a page from the Lannister patriarch’s playbook by taking detailed stock—and control!—of your finances. Do you know how much you spend each month on food, clothing, housing, entertainment and other expenses? Knowing your total monthly expenditure helps you gain a better picture of how you are spending your hard-earned income. And this valuable intel, in turn, will enable you to develop a “targeted” household budget that you should—and can—follow.

Pay your monthly bills on time and avoid late charges. Devise ways to remind your self about when each bill is due: bills reminder apps are available for free in itunes and Google Play Store.

4. Theon Greyjoy’s downfall: emotional decision-making

theon

Confused and unprincipled Theon Greyjoy has always sought approval from his father Lord Balon, a weakness that pushes him to make silly mistakes that eventually lead to disastrous consequences.

Emotions and financial decisions often don’t mix. For example, studies have found that impatience brought on by sadness can in turn result in substantial financial loss. You can end up spending more when you’re “down” and don’t feel like spending the time and energy needed to compare prices.

To prevent emotional spending, keep track of emotions that trigger a spending spree. Be more critical of your purchasing motivations: are you buying a pair of shoes because you need them or because you’re trying to keep up with your fashionista friends?

5. Robert Baratheon’s folly: lack of foresight

robert

King Robert may have been a very brave warrior but he was also a womanizer who had a huge appetite for food and booze. His biggest flaw however was his utter lack of foresight and estate planning, a royal snafu that led to chaos in Westeros.

It doesn’t matter how much your net worth is. A basic estate plan is a must to ensure that your family is taken care of and your financial goals are met after your demise. Hire a reputable lawyer to help you draw up your estate plan.

James Anthony

By James Anthony

A senior FinancesOnline writer on SaaS and B2B topics, James Anthony passion is keeping abreast of the industry’s cutting-edge practices (other than writing personal blog posts on why Firefly needs to be renewed). He has written extensively on these two subjects, being a firm believer in SaaS to PaaS migration and how this inevitable transition would impact economies of scale. With reviews and analyses spanning a breadth of topics from software to learning models, James is one of FinancesOnline’s most creative resources on and off the office.

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