A long time ago in a galaxy far, far away…
Its one of the most iconic opening credits in movie history. For the 3 people left on the planet Earth that do not know. That is the opening to Star Wars. I grew up a huge Star Wars fan and am super excited to have a whole new trilogy to enjoy.
I recently rewatched the first 6 movies and was struck by the many financial lessons that can be found throughout so today I will help you master your finances Jedi-style.
Master your negotiating skills:
Just about everything in life is negotiable in some form or fashion. This is particularly true when it comes to finances. Salesmen, and marketers, everywhere like to use “jedi” mind tricks to convince you to buy things that you may or may not need. It is important that you learn how to negotiate with the salesperson to make sure that you are getting the best deal you can. It is important that you shop around. The invention of the internet has allowed for everyone to become more informed consumers and it is your duty as a new jedi to learn how to master this skill. Like Qui Gon Jin who did not have enough credits negotiating for the parts they needed to repair their ship and free young Anakin Skywalker in the Phantom Menace good negotiating skills for every Jedi finance master.
Be careful with debt:
I know this first hand. Debt can be crippling to your journey to financial freedom. It takes away money that can be used to save for other goals. Also debt can chase you forever and keep you from accomplishing your goals if you don’t deal with it. Much like Han Solo being chased and ultimately captured by bounty hunters and frozen in carbonite thanks to Jaba the Hutt it is important to pay your debts. Even more important is the ability to master and control your debt. It is definitely easier said than done and I am still learning to master this skill myself.
Money and Power can corrupt:
It is important to not give into the urges of the Dark side of the Force. We all know how Anakin Skywalker was turned to the Dark Side by Darth Sidious who used his power to corrupt Skywalker and turn him into Darth Vadar.
Don’t let this happen to you. It is important to show self control. This is a cardinal tenant of the Jedi Knights. They practice self control beyond measure. When you begin to accumulate some wealth don’t let it control you. Use your wealth for good and help out causes that can benefit from your time and money and are worthy of your support.
Don’t let the Dark Side of the Force corrupt you.
Don’t buy a Star Destroyer when an X-Wing will do:
I always wondered where the Empire got all the money for the really expensive things that they purchased. The Star Destroyer had everything. Every feature available: Lots of space, plenty of fire power, and multiple hyper drives and a tractor beam. I wonder how much money it cost and could that money be put to better use. These are questions that the Jedi would ask. Jedi are resourceful and smart and so should you be. Don’t pay interest on the Star Destroyer for a million years when you can pay cash for the x-wing fighter. Both fly and will get you where you need to go.
Don’t pinch pennies if you are building an Imperial Death Star!
“That’s no moon…it’s a space station!” – Obi-wan Kenobi
I love that moment in Star Wars: A New Hope when they realize the Empire has been building the ultimate weapon. The one thing I could never wrap my head around was why if you are building something that extravagant why would you not make it impenetrable? So if you are buying your dream home don’t pinch pennies around things like skipping a home inspection (Not proud moment I made that mistake once!), or landscaping concerns. Don’t ignore little repairs because they can become big repairs. Take control over these things and don’t watch your dream get blown to pieces by a couple of x-wing fighters and a moisture farmer.
Jedi’s Constantly Train:
And you should too. There are constant demands on your money and it is important for you to control your finances and not have them control you. Find someone to help you train. There are lots of great professionals that can help you refine your skills and help you learn how to channel the Force. Much like Luke Skywalker sought out Obi-Wan and Yoda to help him train it is important to find relationships that can help give you guidance.
Training to become a Jedi is hard and is not an easy challenge. Managing ones finances is no easy challenge either. Creating a financial plan and having the discipline to stick with it over the long term is one of the more difficult tasks you will face.
Will you answer the challenge do you have what it takes to become a Financial Jedi?
Grab your lightsaber, train constantly and call me at (336) 310-4233 to help guide you.
May the Force be with you, Always!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.