Top Financial Tips from Horror Movies

 

We look for financial tips from money gurus, books on finance, billionaires and so on and so forth. We gather as much information as possible from all avenues. The hitch here is that while raw data can increase knowledge or fiscal IQ in this case, information fails to inspire. It is when we see another stumbling through the pitfalls of learning something new, we get a better understanding of even the most complicated of systems. Putting a visual to the motivations, emotions, errors and mistakes a person makes during that learning adds a personal touch that encourages us to do.
 
So, today we look towards movies that teach us some of the top financial tips. Yes, movies maybe fiction but hasn’t literature and creative writing given us some of the most powerful ideas ever? So why should money and personal finance be any different? Instead of taking home the obvious pointers from scary films like to not shower when maniacs abound, we discover Great Financial Advice from serial killer and murders.
 
Debt The Serial Killer
Seen the classic Hitchcock movie Dial M for Murder? No? Or its remake A Perfect Murder starring Michael Douglas? It is one of the few horror stories that draw a straight line between the monsters knocking on your door to the bleeding hole in your wallet. The movie is about a convoluted plan the hero fashions to save himself from bankruptcy by deciding to kill his worth-multi-million-dollar wife.

The takeaway here is that unnecessary debt kills and its consequences are deep and dangerous. When you lose money emotions run high which makes us more visceral than cerebral. Ergo, we come up with moronic plans like in the said classic film. Why go on a luxurious vacation when you can’t afford it? When you spend, do so prudently. If you invest, then risk only what you can lose comfortably.

Be Prepared For The Unknown
The most obvious connection to any horror movie and a financial plan is to expect the unexpected. Yes, yes horror films are not full of surprises for the viewer anymore. We can predictably predict the next scene. But for the person living in the nightmare, the bait and switch technique works wonderfully and villains tend to pop out of nowhere.

A personal financial plan is no different. If it does not cover the unknown, you will end up fighting villains at startling and unforeseen times. When you plan for the future, think and financially guard yourself against all issues be it critical illness, disability, life or retirement. Don’t let life throw you for a loop, insure yourself.

Old Is Not Gold

Old, pre-owned, vintage. No matter what label you slap on it, scary movies have taught us that things once owned by someone else tend to be demonically possessed. Purchasing something pre-owned will make you suffer endlessly. The only way to get rid of them is to burn them and bury their ashes deep, deep into the ground. What is the lesson learnt here? Buy everything new you don’t want a Poltergeist re-enactment.

Old things tend to equate to trouble. Thinking about buying a second-hand car ‘cause it’s a steal? Don’t! Resist the temptation. Remember he who showed weakness would be haunted onto death. Budget and buy a new one. It will cost more, but in the long run it will be far cheaper. You will be saving more than you thought possible.

 

Read The Fine Print

Some horror movies have a more tenuous connection to financial education. They play a subtle role in framing financial lesson. Think Heather from Texas Chainsaw 3D. She did not read the fine print when she inherited the dreaded Texas mansion and goes forth exploring. What do we learn from the direct sequel of one of the best horror films in cinema history?

Before you jump in, read all the terms and condition. Before you invest in any plan, comb through the fine print. Don’t be excited about the moolah you will be raking in instead understand completely where your money is going first. Don’t play fast and loose with your hard earned money.

 

Too Good To Be True

Unlike The Texas Chainsaw Massacre franchise, some of the films that rain fear like The Amityville Horror portray economic terror in an obvious manner. George and Kathy, in the movie, did not shy away from buying a house that came attached with a cheap price tag. They should have vamoosed, pronto when the house seemed too good to be true.

Next time you buy a house or are sold a miracle life insurance policy, vigorously do your due diligence. Nothing is worse than being stuck with horrifying nightmares. If an investment plan looks too lucrative, do your homework before you sink money into it.

A bonus monetary tip before we leave you pondering - stick to your working financial plan. Don’t emulate The Halloween franchise, the Scream movies or Nightmare on Elm Street series and recreate ten different versions of a plan that worked on the first go.  

 

Mohit Gang

Mohit Gang is the Co-Founder of www.moneyfront.in, an investment portal that offers Direct Plans of Mutual Funds. Having worked with HSBC and Citibank, Mohit has over 12 years’ experience in the investment and banking industry.

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