We turn to Netflix for entertainment, not for finance tips. That being the case, sometimes financial lessons filter through anyway.
You may not realise it, but some of your favourite shows contain kernels of knowledge that can help you manage your money better.
And if you’re struggling to remember a time when the Last Dance boosted your bank balance, don’t take it personally – we’re here to help you decipher the financial lessons learned from your favourite Netflix shows.
Tiger King: Don’t live beyond your means
Tiger King was the hit show of lockdown one (time flies). We were enraptured by Joe Exotic and his dream of creating a successful Big Cat park in rural Oklahoma (as well as his other dream, getting rid of his Big Cat competitor and arch-nemesis Carol Baskin.)
As the name suggests, Joe Exotic is a larger-than-life personality with the lifestyle to match. He is obsessed with his image, to the point where it becomes clear he is spending more money on cultivating his lifestyle than he is on the business that’s supposed to fund it.
He spends money on Big Cat cubs then raises them in a ‘zoo’ that’s barely worthy of the name, purchases expired meat to feed them (as well as his poorly-paid staff), and reacts to a staff member being maimed by an animal by complaining that the incident is going to ruin him financially.
This can be distilled down into a simple financial lesson; trying to live beyond your means never ends well. If you have expensive tastes, you need to ensure your pay packet can live up to your lifestyle, otherwise you could be in for a shock.
You: When something seems too good to be true, it usually is
If you haven’t seen You, here’s a brief synopsis: A creepy, psycho, killer-in-waiting bookstore manager named Joe becomes obsessed with a young writer called Guinevere, and resolves to do anything he can to be with her. And we mean anything.
He follows her around, monitors her social interactions, and steals her phone so he can keep an eye on exactly who she’s talking to, when she’s talking to them, and what she’s saying in her private conversations. He even goes as far as entering her apartment when she’s not at home to gather information he can use to ingratiate himself with her.
How does he get away with this kind of behaviour? Because Joe is a master of disguising his true intentions underneath a ‘nice guy’ persona. Any time he’s face to face with Guinevere, he’s a perfect gentleman. By the time she learns about the real Joe, it’s too late.
It’s a similar story with your finances. If you’re presented with an opportunity that seems too good to be true, that’s because it probably is. Scammers and con artists will say anything they can to lure you in, so be cautious, never give your details over text or email, and – as we’ll get to in the next section – always do your research.
Money Heist: Always do your research
We all like the idea of a big payoff, which is why so many of us loved Money Heist, the hit Spanish-language Netflix show that follows a gang of criminals as they plan a job to take down the Royal Mint in Madrid and make off with the spoils.
The gang are led by a man known as ‘The Professor’, an intelligent and meticulous character who leaves no stone unturned when it comes to planning a job. He never gets himself into a situation where he doesn’t know the outcome, having balanced both the risks and the rewards.
As The Professor himself says: “In this world, everything is governed by balance. There’s what you stand to gain and what you stand to lose. And when you think you’ve got nothing to lose, you become overconfident”.
That’s something worth bearing in mind when it comes to investing, especially in volatile arenas like cryptocurrency. Yes, there’s big money to be made, but there’s also a lot of risk involved. The people who make money through cryptocurrency, or any kind of investing, are the same people who do meticulous research, and never act without first having a good idea of their odds of succeeding.
Squid Games: Don’t hide from your debt
Another binge-worthy Netflix favourite, Squid Games is a hit Korean show with a pretty dark premise – a group of people with crippling debt are offered the chance to enter a contest where the winner will win enough money not only to settle their existing debts, but to ensure that they’re financially set up for life.
The catch? The last person standing is very much that; the last person standing. Unbeknownst to the contestants when they first enter, there can only be one winner in the Squid Games. The rest will be disposed of in the most gruesome way.
Now, you might be wondering how these people managed to get themselves into such a dire situation, or why so many of them choose to play on even when they know their lives are at stake. The answer is that they’re desperate. Each one of them carries debts that are so out-of-control that they can’t see another way out.
And that’s the lesson. You might think you can hide from debt, but you can’t. In fact, the more you ignore it, the worse it gets. If you’re struggling with your finances, it’s important you take action before things get out of control. So open those letters, talk to your loved ones, or, better still, speak to a debt specialist. Trust us, the best way to deal with debt is head-on.
Schitt’s Creek: Have an emergency fund you can fall back on
Schitt’s Creek is a multi-emmy-award-winning comedy that first hit the small screen in 2015 and has been making us laugh ever since.
It’s based around the travails of the previously wealthy Rose family, led by former video store magnate Johnny, who lose all of their assets except one – a small town in the middle of nowhere named ‘Schitt’s Creek’. Johnny bought the town as a joke decades before, and now it’s all he and his family have left.
We have the pleasure of watching as the family adjust to life in their new hometown; living four-to-a-room in a rundown motel, sharing meals in the local diner, and doing their best to live as ‘normal people’ while pining for the lavish lifestyle they lost so suddenly.
You see, the Roses didn’t have money set aside in case of an emergency, and that’s the lesson. Always aim to have an emergency fund in place. Unexpected things happen, and these unexpected things often cost money. That’s why you should aim to set aside two-to-three months’ wages just in case. When that break-glass moment arrives, you’ll be glad you did.
