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Gustavo Mirabal (eng)

The Squid Game – Lessons for Personal Finance

Squid Game is the recent Netflix series that is causing a furor around the world. On the one hand, it explores a genre that is becoming common to all against all or Battle Royale.  On the other hand, it incorporates totally new and unexpected mechanics and narratives. Surprise is the key to this series, which also has a narrative background that does not untie its knot in its first season. Today we will know the […]

La entrada The Squid Game – Lessons for Personal Finance se publicó primero en Gustavo Mirabal Castro.

Squid Game is the recent Netflix series that is causing a furor around the world. On the one hand, it explores a genre that is becoming common to all against all or Battle Royale.  On the other hand, it incorporates totally new and unexpected mechanics and narratives. Surprise is the key to this series, which also has a narrative background that does not untie its knot in its first season. Today we will know the lessons that the Squid Game leaves us applicable to our personal finance.

But without going into spoilers let’s see what this new series has to offer us, what are the elements that have made it so successful. Last but not least, let’s see what financial advice you have for us.

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Squid Game and personal finance?

The hit Netflix series again poses dilemmas that South Korean cinematography has recently brought to the fore. Parasite and Squid Game have shown the enormous social gap and discrimination of South Korean society.

Both show us people at both ends of the social spectrum. People who can barely survive, and on the other hand people who get bored of having so much money. With our own focus on each work, they place us in the position of reflecting deeply on elements of their society.

Its creator Hwang Dong-hyuk was also a producer, director, and writer of the series. Squid Game is a way to express part of your experiences as a child. He grew up in an environment full of economic difficulties. Hwang even lived in the same neighborhood where he locates the protagonist of the series and went to Seoul National University where he was the protagonist’s best friend.

Undoubtedly an intimate story that takes us to the most important point of history, the social gap.

In Parasite, another successful South Korean play, he focuses more on the social divide. However, in Squid Game he focuses on one of the elements that deepens that gap, income, and debt, with emphasis on the latter.

Players of Squid Game are people who have a great need for money to attend to a need. People who have gone into debt again and again, and therefore no longer have anyone to turn to.

Squid Game offers them a way out… But at what cost?

Squid Game and Personal Finance

The Cost of dreams and Personal Finances

For Hwang Dong-hyuk, its creator, producer, director and producer, Squid Game cost him 6 teeth… Stress took its toll on Hwang losing 6 teeth, and until the time of his last interview he had not yet taken the time to make the prostheses.

In addition, it is a project that has cost 10 years of life in planning for Hwang. The project was presented on several occasions being rejected, but he has insisted on his idea for a long time…

For Netflix the series had a cost close to 20 million euros, one of the most expensive North Korean series in history. About two million euros were spent on the salary of the actor who represents the protagonist Seong Gi Hun. The biggest expenses have been the sets they had to put together, the setting and the salary of actors.

For Jeong Ho Yeon, the actress who gives life to the North Korean Kang Sae Byeok represented, accept a salary of a few thousand euros per episode. But to be an actress who is starting this has given her an incredible imposed.

For the players of Squid Game, the cost of the game is their own life, and the reward is 45 billion won, almost 38 million euros. An attractive prize that makes everything questioned…

Some people pay with their lives for opportunities

Money and moral codes in Squid Game and personal finance.

Participants not only risk their lives, but also their moral integrity, because winning is sometimes deception and cheating. Although some of his characters try to respect their own morals, when confronted with death they tend to give up. This emphasizes that the struggle for survival in society jeopardizes society’s morale.

Some of the participants come into the Game with a questionable moral code, but full of justifications. And that’s what it’s all about, everyone has their own reasons for getting to the hole where they are.

How can we survive and stay attached to our moral code? Perhaps there are two keys that the series teaches us. The first is that we can avoid getting into life’s Squid Game if we control our finances. The second lesson is that we need to give up the idea that money is worth everything in order to get rid of its chains.

But when people go into debt, they find themselves chained to an obligation… How to let go of those chains and more importantly, how to avoid them? In the next section we will give you the tips so that you are not a “player”.

Squid Game and its lessons in personal finance

As we mentioned earlier, the characters in the series find themselves in a dilemma caused by huge debts incurred. They can die, go to jail or fall into misfortune in front of their families, if they do not find the money they need to pay.

In that context, they meet someone who offers them money in exchange for participating in a game. This offer is very similar to that made by loan sharks when people are in economic trouble. It only deepens the problems. So the first step is to reject financial options that only displace the problem and increase the weight of it.

The loan sharks not only act taking advantage of the need of the individual, but they put short deadlines and high interests, worsening the situation. The first step should be to reject these options.

On the other hand, to avoid falling into trouble, we must avoid impulsive decision-making and look to the future.

Both our protagonist and his friend made questionable financial decisions such as:

  • Invest in risk instruments without the necessary knowledge and using the money of others.
  • Make impulsive consumption or entertainment expenses with the money of others or at the cost of indebtedness
  • Not paying your debts and getting more and more indebted.
The loan shark offering a solution – Squid Game and Personal Finance

How to avoid becoming a player?

Additionally, our protagonist sacrifices his future for a present impulse when he decides to bet with his mother’s insurance money, which subsequently puts her at risk.

Without a doubt, not getting into debt, minimizing unnecessary expenses and paying debts are key to avoiding becoming a player of “Squid Game”

In future installments we will delve into these aspects thanks to the advice of Gustavo Mirabal.

La entrada The Squid Game – Lessons for Personal Finance se publicó primero en Gustavo Mirabal Castro.

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