Love it or hate it, this popular HBO series contains a wealth (pun intended) of very important social and economic lessons that we’d all do well to pay attention to.
Here are 10 money lessons from Game of Thrones and their real-life implication to your finances.
Like the winters of Westeros, you never know when a financial pitfall will hit, or for how long it will last. Having a healthy store of savings, as well as little liabilities, will prepare you to survive even the longest of financial winters.
The House of Lannister was well-known for paying their debts, both monetarily and otherwise, which allowed them more leeway in continually borrowing, buying, or coercing whatever they wanted throughout the series.
3. Don’t Try to Keep Up with the Lannister’s…er…Jones’s
Aside from always paying their debts, the Lannister’s have a well-established reputation as the Jones’s of Westeros. Whether real or imagined wealth, living beyond your means in order to keep up with the Jones’s will only lead to debt and financial hardship for yourself.
While taking advantage of credit isn’t a bad thing, you would be wise to choose your level of debt and those you borrow from with care. Not all lenders are created equally, and no lender is your friend.
One of the most important, but overlooked, money lessons from Game of Thrones is that you must have an estate plan. If we’ve learned nothing else from Game of Thrones, it’s that it’s not good when heirs begin fighting over the estate.