The Power can be with us — all the time.
Over quite a few films and various 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 Penny Hoarder, we’re particularly within the half about cash.
Though 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 leap into hyperspace! Right here’s what we’ve realized:
1. All the time Pay Your Money owed — Or Else
Bingo. That is all the time 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 — mainly a debt collector with blaster pistols and inexperienced Mandalorian armor.
As an alternative of declaring chapter, Han finally ends up frozen in carbonite. Then Princess Leia, Luke, Lando and the long-lasting droids should infiltrate Jabba’s lair to save lots of 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.
Bank cards firms cost compound curiosity. In case you don’t repay your invoice every month, the corporate fees 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 will 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?
In case you 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 Autos Supply the Greatest Worth
The Millennium Falcon takes its share of verbal abuse.
“You got here in that factor? You’re braver than I assumed,” Princess Leia says upon first seeing the starship. In “The Power Awakens,” Rey calls the ship “rubbish.”
However the Millennium Falcon will get the job executed. (Did we point out that it made the Kessel Run in lower than 12 parsecs?) Seems you don’t all the time want a shiny new automobile.
Used automobiles are sometimes a greater deal than new ones, however you should use this automobile comparability spreadsheet that will help you get the most effective deal.
3. Negotiate the Greatest Deal You Can
Early in “A New Hope,” Luke and Uncle Owen discount 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 making an attempt to push on us?”
The consequence: Luke’s household will get the most effective 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 most effective provide.
4. “Do or Do Not. There’s No Strive.”
Yoda’s admonition to Luke in “The Empire Strikes Again” might be the largest zen second in any of those films.
As all the time, Yoda is true on the right track. You’re both going to do it, otherwise you’re not. Don’t simply strive.
In case you’re going to make monetary modifications, 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 in case you’re feeling harassed, 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 missed 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 automobile. In case you blow that stuff off, you’ll simply find yourself paying extra ultimately.
Try the following pointers for budgeting for dwelling enhancements that will help you keep away from sinking into debt for that subsequent restore. You can even keep your wheels by determining how a lot to finances for automobile repairs.
6. Get Rid of Your Previous Stuff
The “Star Wars” universe seems completely different from Star Trek and different sci-fi settings. “Star Wars” has that “lived-in” look — there’s junk in every single place. You realize, similar to your own home.
And within the “Star Wars” films, folks generate profits promoting that junk — similar to it’s best to.
In “The Power Awakens,” Rey is a scavenger on the planet Jakku, feeding herself by salvaging components from ships. On Luke’s dwelling planet of Tatooine, these jawas seem like scavengers, too.
When you’ve got gadgets you’d be prepared to half with and also you don’t wish to spend any cash for stuff you want, think about these methods to barter.
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, a variety of apps make it simpler than ever to promote your outdated stuff on-line.
To unencumber house and earn some additional money, use apps to promote your stuff. Itemizing the correct stuff in the correct marketplaces means you’re extra prone to promote it for the correct value.
7. Watch out for Scams. Know What Issues Are Value.
Towards the start of “The Power Awakens,” a hungry Rey almost pawns the droid BB-8 in change for 60 parts of inflatable meals. She’s sorely tempted, however she senses one thing is mistaken and backs off.
That’s the surest option 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 purchasing for sneakers on-line, you’ve bought to be careful for rip-offs. Right here’s tips on how to shield your self from work-from-home scams, scholar mortgage forgiveness scams and id theft.
Don’t depart your self susceptible to hackers. Keep away from these dangerous password habits to assist guarantee your on-line safety.
8. Embrace the Gig Economic system
When Luke and Obi-Wan want transportation to Alderaan, they mainly 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 delivering groceries, takeout and packages.
9. Sand Folks All the time Stroll in Single File to Conceal Their Numbers
You see, from this we are able to study that … no, no, wait. That’s not a great instance in any respect. We study 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 critically into some long-term planning.
Emperor Palpatine’s grasp plan takes a number of films 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 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 informed, that’s all the things that “Star Wars” has taught us about cash to date. Take it as you’ll.
Do, or don’t.
There isn’t a strive.
Mike Brassfield ([email protected]) is a senior author at The Penny Hoarder. His “Star Wars”-loving co-workers helped out with this publish.
