This one’s for all The Professor fans out there!
1. Always have a Plan.
Okay, so this one does not need much elaboration. The whole of Money Heist revolves around how brilliantly The Professor lays out a plan to make his dream come true ( even though we highly recommend you don’t follow his kind of plan). Imagine a scenario where The Professor decides to just assemble a team and ask them to steal the money from the bank? Now that probably would’ve been a failure of a heist, and probably a failure of a show too.
So the bottom line is – always have a plan! If your goal is to save or invest, the first chart out a plan. Set your goal, do your research and take help if necessary, look at all the possible ways you can achieve what you want. A great money story requires great planning.
For more information on how to plan your finances and begin investing:
2. Stay calm when things go down.
Even the best plans will have glitches. Remember how in Season One that guy messes up with the disposal of the car? The professor had everything perfectly planned out to the T, yet when things begin to go down, the professor never loses his cool. He assesses and settles on the best solution to salvage the situation, even if it means going into the field himself at the risk of being caught!
Sometimes, when you invest or handle money, your plans may fail too. Panic can be your worst enemy, especially in the stock market. For instance, during a bear market situation, we often tend to panic and sell out investments as the prices begin to fall. But on the contrary, it is actually a great time to buy more stock as the prices are low. It is also ideal to wait for the storm to weather out before you sell them. While a stock market crash could be scary, it’s not the end of the world.
All you need to do is stay calm and assess the best way to cope with the situation, and try again! It’s not just a money lesson, but a life lesson.
3. Don’t mix emotions with your plan.
So another lesson we have to absorb from Money Heist has to be that every time you let your emotions take over in business, your plan begins to fail. For example, in the show, the characters Tokyo and Rio break the rule and get involved with each other which leads to complications later on in the show. That said, any kind of decision made on the basis of any emotion – be it anger, sadness, too much excitement, etc., may not be the best decision you could’ve made under those circumstances. Hence, keep your personal life far, and your emotions even further away from your money-making decisions.
In order to explain how this applies to us, let us discuss a few scenarios you might encounter. Imagine you invest through an agent solely because a friend recommended him. To not ‘hurt his feelings’ you make the investment under his guidance, and it turns out that the agent isn’t very good at what he does, and you end up losing money over and over. Or you could consider a scenario where you notice that the stock price is rising and out of sheer excitement, you end up selling it way before it reaches its peak. Or you may invest in your relative’s company without proper knowledge and without any second thoughts, out of sentimental values, and you might end up incurring losses.
The number of such instances is innumerable, but simply put – never mix emotions with business. Period.
4. Have a Back-up Plan.
If the Professor had an alternate name in the show, it would probably be Mr. Plan B! He was always 100% prepared, with a thorough plan, and a thorough Plan B as well! He always had a solution for when things don’t go his way, which is how he manages to keep moving ahead. This is a valuable money lesson we get from Money Heist.
When you plan out your finances, always take a look at your contingencies, both good and bad. Make back up plans for those scenarios. You might end up in a situation where you may expect a certain stock price to rise and may look forward to selling and making some money for some emergency requirements. But it may so happen that the price doesn’t rise, but instead of weeping about the situation, it would be ideal to have a backup source to fulfil your need. For example, you could sell two stocks instead of one, or maybe reach out into your emergency funds, making sure to replace it later. Such scenarios are unpredictable, and it shouldn’t throw you off track.
Hence, always have a back-up plan. This doesn’t mean that you are being paranoid, this simply just means that you are prepared and ready for whatever is headed your way in the game of life!
5. Stay Smart.
This was the most obvious lesson we can learn from the series. The professor is extremely smart, without a doubt. He knows not only his own strengths and weaknesses but also knows how to use it to his advantage. He realizes that he is better off strategizing rather than being on the field, while his team is good at being out there executing what he says. This is what sets him apart from the rest.
Similarly, when you are dealing with money, you need to analyze. Analyze your strengths, the stability of the money source, your mode of investments, or even your fund manager’s abilities and skills. There are often situations where nothing, but your wit and knowledge will help. You should always try and stay on your toes when there is hard-earned money involved. But that being said, money shouldn’t dictate your entire life, always remember that it will come and go and isn’t the very purpose of your life.
Always stay alert and aware, and be open to learning from your mistakes, and remember that there is no end to learning, and you are bound to successfully handle your money without any problems!
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