Use the Force — and These 10 Real Life Star Wars Money Lessons

The Pressure will likely be with us — at all times. 

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 persistence, about beating the chances — and even about cash. 

As a result of that is The BaghdadTime, we’re particularly within the half about cash.

Despite the fact that 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 applies to the right here and now. 

Put together to make the soar into hyperspace! Right here’s what we’ve realized:

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 large 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, Han finally ends up frozen in carbonite. Then Princess Leia, Luke, Lando and the enduring droids must infiltrate Jabba’s lair to avoid wasting him in a sequel.

Similar to with Solo, the longer you don’t repay your money owed, the larger the issue will get. The curiosity piles up.

Your first step must be to determine what you’re coping with. Map out precisely what sort of debt you might have. For instance, which firms 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? Are you able to ask for forbearance?

If you happen to simply can’t appear to chip away on the debt, cease your poor spending habits or increase your credit score rating, think about asking for assist from a monetary counselor. 

2. Used Automobiles Provide the Finest Worth

The Millennium Falcon takes its share of verbal abuse.

“You got here in that factor? You’re braver than I believed,” Princess Leia says upon first seeing the starship. In “The Pressure Awakens,” Rey calls the ship “rubbish.”

However the Millennium Falcon will get the job accomplished. (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, however you need to use this automotive comparability spreadsheet that will help you get the very best deal.

3. Negotiate the Finest Deal You Can

Early in “A New Hope,” Luke and Uncle Owen cut price with some creepy little jawas over the worth 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 attempting to push on us?”

The outcome: Luke’s household will get the very best droid ever, R2-D2.

Haggling isn’t only for markets and automobiles; you must also negotiate your wage — listed here are some tricks to get the very best provide. 

4. “Do or Do Not. There may be No Strive.”

Yoda’s admonition to Luke in “The Empire Strikes Again” might be the most important zen second in any of those motion pictures.

As at all times, Yoda is true on track. You’re both going to do it, otherwise you’re not. Don’t simply strive.

If you happen to’re going to make monetary adjustments, decide to them and be constant. Don’t simply strive a couple of times after which neglect about it. Sticking to it’s the key to success.

We perceive — it may be robust to keep away from the temptation to spend “just a bit” cash to deal with your self, particularly for those who’re feeling confused, overworked and exhausted. However these impulse buys can actually eat into your financial savings or wreck your efforts to repay bank card debt. 

5. Don’t Let the Little Particulars Blow Up On You

The Empire spared no expense on the Demise Star, don’t you assume?

However they neglected 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 private home and automotive. If you happen to blow that stuff off, you’ll simply find yourself paying extra in the long run.

Try the following pointers for budgeting for residence enhancements that will help you keep away from sinking into debt for that subsequent restore. You may as well keep your wheels by determining how a lot to finances for automotive repairs.

6. Get Rid of Your Outdated Stuff

The “Star Wars” universe seems totally different from Star Trek and different sci-fi settings. “Star Wars” has that “lived-in” look — there’s junk in all places. , identical to your home.

And within the “Star Wars” motion pictures, folks earn a living promoting that junk — identical to you need to.

In “The Pressure Awakens,” Rey is a scavenger on the planet Jakku, feeding herself by salvaging components from ships. On Luke’s residence planet of Tatooine, these jawas seem like scavengers, too.

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, plenty of apps make it simpler than ever to promote your previous stuff on-line.

To unencumber area and earn some additional money, use apps to promote your stuff. Itemizing the suitable stuff in the suitable marketplaces means you’re extra prone to promote it for the suitable worth.

7. Watch out for Scams. Know What Issues Are Price.

Towards the start of “The Pressure Awakens,” a hungry Rey practically pawns the droid BB-8 in change for 60 parts of inflatable meals. She’s sorely tempted, however she senses one thing is unsuitable and backs off.

That’s the surest method 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 searching for footwear on-line, you’ve bought to be careful for rip-offs. Right here’s easy methods to shield your self from work-from-home scams, scholar mortgage forgiveness scams and id theft.

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 can also make like Han and Chewie in your Honda or Chevy by delivering groceries, takeout and packages.

9. Sand Folks At all times Stroll in Single File to Cover Their Numbers 

You see, from this we are able to be taught that … no, no, wait. That’s not instance in any respect. We be taught no monetary truths from that. 

We’ve bought nothing for you right here. 

10. Make Certain You Have a Lengthy-Time period Plan

The heroes and villains of the “Star Wars” universe are significantly 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, ready for his or her likelihood to return the favor.

After all, after 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(okay) match.

The earlier you begin saving, investing and paying down your debt, the higher off you’ll be.

All instructed, that’s all the things that “Star Wars” has taught us about cash to this point. Take it as you’ll.

Do, or don’t.

There isn’t a strive.

Mike Brassfield ([email protected]) is a senior author at The BaghdadTime. His “Star Wars”-loving co-workers helped out with this put up.