What financial tips we learned from Star Wars

Who knew that a galaxy far, far away, would have so many applicable financial lessons to learn.  Here are just a few in no particular order.

Pay Your Debts

For most of the original Star Wars trilogy, we watch Hans Solo being chased from one end of space to the other. Why? Because of debt he acquired from the infamous Jabba the Hut.

While most debt collectors aren’t that bad, you should look to manage your debt in an appropriate way. Before your credit is impacted, or Boba Fett pays you a visit, debt management should be used.

Work for Something Beyond Money and Power

Making more doesn’t equal happiness. Sometimes you have to join the Rebellion and do the right thing.

Fulfillment is not always found in a paycheck. Fulfillment is about connecting with people, liking what you do and the people around you.

Don’t be pulled in by the false promises of the Dark Side.

The Weak Minded are Easily Tricked

Maybe these ARE the droids you are looking for, but do you really NEED them?

Marketers and media make a living telling us what we want, how we should look, or feel. Sometimes the best answer to getting something you really want is to save up until you have enough to buy it.

Don’t get fooled by the old Jedi mind tricks.

Penny-Wise, and Dollar-Foolish

So you can make a laser as big as a moon to blow up planets, but you didn’t spend enough to plug up the holes so that one “force led” missile can blow the whole thing up?

Maybe scale back on the extra big helmets and get a few more blast doors. Spending a little bit more on insulation or better windows can really help a heating bill for years to come. Landscaping and drainage can be helpful to keep your basement dry. Don’t forget GAP Plus insurance for your auto.

Sometimes you have to spend a little upfront to protect your assets.

Find a Good Mentor

Who wouldn’t want to hang out with Obi Wan or Qui-Gon?

There is a lot to be learned from those who have experience and are trained in the ways of the (financial) force. Seek help with things that are meaningful to you. Don’t be proud or ashamed thinking you should know it already.

There is a reason we are here and make a living serving our members and this community since 1952.

CAUTION: Choose wisely, because not all Mentors are created equal – see the Emperor, Count Dooku, and Darth Maul.

Size Matters Not

Admit it, before Master Yoda started flipping around in Episode II: Attack of the Clones, you thought he was just good for an occasional one-liner.

No matter how much you can spare, putting aside a little extra in your savings account is a must. You need to start the discipline of saving early in life and adding to it throughout the years. It may seem silly at first, but it is a savings journey that you must start.

Remember, “there is no try, just do.”

What else should you know?

Whether you are a young boy with high hopes of space travel stuck on Tatooine, or work as a cashier in New Castle, your financial issues can be corrected, and strengthened. While the Force helps, much of your strength and training can come from real professionals, and solid information.

Training to go from a young Jedi to a full-blown master may take years. We’ve boiled it down to four strategies…

  • Pay your debts down
  • Create the right budget
  • Get information from trusted sources
  • Every penny counts in savings, so save it all

When it comes to financial matters, First Choice Federal Credit Union wants you to be a Force.

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