The Power shall be with us — at all times.
As a result of “Star Wars” has embedded itself so deeply into our cultural DNA, it continues to form the best way we take into consideration life.
Over quite a few motion pictures and diverse iterations, “Star Wars” has taught us about overcoming obstacles, about coping with household drama, about friendship, about endurance, about beating the percentages — and even about cash.
As a result of that is The Penny Hoarder, we’re particularly within the half about cash.
Although the epic saga of Luke Skywalker & Co. performed out a very long time in the past in a galaxy far, far-off, the monetary knowledge we gleaned from it applies to the right here and now.
Now, put together to make the leap into hyperspace! Right here’s what we’ve discovered:
1. At all times Pay Your Money owed — Or Else
Bingo. That is at all times the primary one everybody thinks of.
Han Solo owes cash to the enormous slug-like crime boss, Jabba the Hutt. When he doesn’t pay up, Jabba sends bounty hunter Boba Fett after him — principally a debt collector with blaster pistols and inexperienced Mandalorian armor.
As a substitute of declaring Chapter 7 chapter, Han finally ends up frozen in carbonite. Then Princess Leia, Luke, Lando and the long-lasting droids must infiltrate Jabba’s lair to avoid wasting him in a sequel.
Identical to with Solo, the longer you don’t repay your money owed, the larger the issue will get. The curiosity piles up.
Bank cards corporations cost compound curiosity. In case you don’t repay your invoice every month, the corporate expenses curiosity that’s added to the quantity you owe. Then that new whole is charged curiosity.
Your first step needs to be to determine what you’re coping with. Map out precisely what sort of debt you might have. For instance, which corporations do you owe cash to? Are any of your money owed in collections? What are your minimal month-to-month funds on every bank card or mortgage?
A straightforward strategy to begin doing that is to enroll with a free service like Credit score Sesame. This instrument reveals your stability on any unpaid payments, bank cards or loans. It additionally affords recommendations on lowering your debt and elevating your credit score rating.
2. Used Autos Provide the Greatest Worth
The Millennium Falcon takes its share of verbal abuse in a number of “Star Wars” movies.
“You got here in that factor? You’re braver than I assumed,” Princess Leia says upon first seeing the starship. And in “The Power Awakens,” Rey calls the ship “rubbish.”
However the Millennium Falcon will get the job performed. (Did we point out that it made the Kessel Run in lower than 12 parsecs?) Seems you don’t at all times want a shiny new automobile.
Used automobiles are sometimes a greater deal than new ones. Client Studies recommends shopping for a automobile that’s two or three years outdated. For recommendations on shopping for a used automobile, go right here or right here or right here.
You’ll have to handle your trip, although. (The Falcon’s hyperdrive retains breaking down regardless of Chewbacca’s finest efforts in “The Empire Strikes Again.”)
Based on a AAA survey, 1 in Three U.S. drivers can’t pay for an surprising auto restore. Contemplate creating an emergency fund with a high-yield checking account.
3. Negotiate the Greatest Deal You Can
Early in “A New Hope,” Luke and Uncle Owen are bargaining with some creepy little jawas over the value of some used droids.
When an R2 unit they’d simply purchased instantly breaks down, Uncle Owen aggressively questions the standard of what the jawas are promoting: “Hey, what are you making an attempt to push on us?”
The outcome: Luke’s household will get the very best droid ever, R2-D2.
Negotiating isn’t only for markets and automobiles, any variable expense might be negotiated to a cheaper price — you simply must know what to search for.
4. “Do or Do Not. There may be No Attempt.”
Yoda’s admonition to Luke in “The Empire Strikes Again” might be the largest zen second in any of those motion pictures.
As at all times, Yoda is true on course. You’re both going to do it, otherwise you’re not. Don’t simply attempt.
In case you’re going to make monetary adjustments, decide to them and be constant. Don’t simply attempt a few times after which overlook about it. Sticking to it’s the key to success.
Assist your self by making it more durable to spend. Deleting your bank card quantity out of your web browser can create simply sufficient of a hurdle to drive you to pause earlier than giving in to that impulse purchase.
For example, saving cash is tough. Contemplate making an attempt an auto-savings app like Acorns.
When you join it to a debit or bank card, it rounds your purchases as much as the closest greenback and funnels your digital change right into a financial savings or funding account.
As a result of the cash comes out in increments of lower than $1, you’re much less more likely to really feel an impression in your checking account.
5. Don’t Let the Little Particulars Blow Up On You
The Empire spared no expense on the Demise Star, don’t you suppose?
You’ve obtained to determine that moon-sized battle stations able to blowing up planets don’t come low-cost (particularly two of them).
However they ignored that pesky little design flaw that allowed the Insurgent Alliance to destroy the entire thing. Whoops!
Don’t neglect the small print like that, as a result of they’ll burn you. Don’t skimp on upkeep and repairs for big-ticket gadgets like your own home and automobile. In case you blow that stuff off, you’ll simply find yourself paying extra ultimately.
One other lesson from the Demise Star: Don’t put all of your eggs in a single basket. The Empire certain had lots driving on its supercool Demise Star, didn’t it?
Don’t rely upon only one factor. Diversify your investments. Right here’s how one girl used an app to be certain her 401(ok) was in stability.
6. Get Rid of Your Previous Stuff
The “Star Wars” universe seems completely different than Star Trek and different sci-fi settings. “Star Wars” has that “lived-in” look — there’s junk in all places. You recognize, similar to your home.
And within the “Star Wars” motion pictures, individuals earn cash promoting that junk — similar to it is best to.
In “The Power Awakens,” Rey is a scavenger on the planet Jakku, feeding herself by salvaging elements from ships.
On Luke’s dwelling planet of Tatooine, these jawas we talked about earlier seem like scavengers, too.
Letgo is an app that permits you to join with individuals who need your outdated stuff. It’s free to make use of — simply snap a photograph, add your merchandise and add an outline and worth.
In “The Phantom Menace” — hey, right here’s our first and solely point out of the prequels! — Qui-Gon Jinn and Obi-Wan Kenobi meet younger Anakin Skywalker in a junk store the place he fixes issues.
In the meantime, right here on our planet, numerous apps are making it simpler than ever to promote your outdated stuff on-line.
To unlock house and earn some additional money, use apps to promote your stuff. Itemizing the proper stuff in the proper marketplaces means you’re extra more likely to promote it for the proper worth.
7. Watch out for Scams. Know What Issues Are Price.
Towards the start of “The Power Awakens,” a hungry Rey practically pawns the droid BB-Eight in alternate for 60 parts of inflatable meals. She’s sorely tempted, however senses one thing is flawed and backs off.
That’s the surest strategy to spot a rip-off: If a deal seems too good to be true, it most likely is.
Whether or not you’re promoting a droid or looking for footwear on-line, you’ve obtained to be careful for rip-offs. Right here’s the right way to shield your self from imposter scams, credit score restore scams, id theft and senior scams.
So long as id theft stays an enormous drawback it’s essential to keep watch over your credit score and transactions.
8. Embrace the Gig Economic system
When Luke and Obi-Wan want transportation to Alderaan, they principally catch an Uber. An area Uber. They pay for the Millennium Falcon to take them there.
Right here on Earth, you may make like Han and Chewie in your Honda or Chevy by driving with Uber or Lyft and make extra cash every week by yourself schedule.
Along with age necessities for drivers, Uber and Lyft each have age restriction on your automobile which can be primarily based on laws in your metropolis.
There are different entry-level methods to earn cash these days that you are able to do by yourself time – and out of your telephone – due to the rising gig financial system.
Craigslist is a simple place to promote your providers below the “Gigs” part. Pay and duties will fluctuate, after all. And when you don’t belief Craigslist, take a look at TaskRabbit or Fiverr – to call only a few.
9. If the Deal Turns to the Darkish Facet, Lower Your Losses
Right here at The Penny Hoarder, we’re at all times on the lookout for good offers.
We’re at all times asking, Is that this deal or not deal? And once we hear the phrases “deal” and “”Star Wars”,” we are able to’t assist however consider Lando Calrissian in “The Empire Strikes Again.”
Lando … Lando didn’t get deal.
When Han, Leia and Chewie first flip up in Cloud Metropolis, Lando tells them, “I’ve simply made a deal that’ll hold the Empire out of right here endlessly.”
In fact, the deal includes betraying his associates. Later, Darth Vader menacingly informs Lando, “I’m altering the deal. Pray I don’t alter it any additional.”
Nonetheless later, when Vader threatens Lando additional and mistreats his associates, Lando fumes, “This deal is getting worse on a regular basis!”
That’s when he switches sides.
In case you make a deal and the truth doesn’t match what you had been promised, be ready to stroll away. Lower your losses and transfer on.
10. Sand Folks At all times Stroll in Single File to Disguise Their Numbers
You see, from this we are able to study that … no, no, wait. That’s not instance in any respect. We study no monetary truths from that.
We’ve obtained nothing for you right here.
Let’s do that as a substitute. Some of the essential classes we discovered from “Star Wars” is:
10. Make Positive You Have a Lengthy-Time period Plan
The heroes and villains of the “Star Wars” universe are critically into some long-term planning.
Emperor Palpatine’s grasp plan takes a number of motion pictures to unfold. After he reveals himself to be Darth Sidious and strikes, Yoda and Obi-Wan lay low for a few many years after the prequels, ready for his or her probability to return the favor.
In fact, once we first meet Obi-Wan and Yoda, they’re chilling in a cave and a swamp, respectively. Apparently the Jedi Council didn’t have a lot of a 401(ok) match.
The earlier you begin saving, investing and paying down your debt, the higher off you’ll be.
All advised, that’s every part that “Star Wars” has taught us about cash to date. Take it as you’ll.
Do, or don’t.
There is no such thing as a attempt.
Mike Brassfield ([email protected]) is a senior author at The Penny Hoarder. His “Star Wars”-loving co-workers helped out with this publish.