What Game Of Thrones Can Teach Us About Money?
Heads rolling, crushed skulls, people eaten alive… Yes. Game Of Thrones is back. While it may be all a product of George R.R. Martin’s imagination, we’ve spotted some truly insightful money lessons hidden between the lines of this eight-season highly-addictive show. Here they are:
Fall, stand up, repeat
Life is full of ups and downs. Take Daenerys Targaryen for a start. You may think of her as the Mother of Dragons, Khaleesi, the Unburnt, Breaker of Chains, blah blah blah… But the truth is her path to ‘glory’ hasn’t been an easy one.
To become who she is now, Daenerys has built A LOT of resilience on the way. Let us ask you a simple question: how do you deal with financial setbacks?
In order to bounce back as the ‘Mother of Dragons’ when dark times come (unemployment, divorce, diseases…), nothing works best than planning ahead. Are you saving in crypto? Are in a buy-and-hold investment strategy? You could earn extra interest on your assets by placing them on a crypto savings account.
If you are Crypterium Plus or Premium member, you could access one. Oh, and considering you might not have the unsullied army to protect your back, you also get account insurance for free.
Overspending needs to stop
Robert Baratheon liked to spend big, frittering away the realm’s revenues on “joyful evenings”, tournaments, and banquets. After all, he was the ruler of the Seven Kingdoms. The thing is… this lifestyle did no good to him. The kingdom was buried in a mountain of debt (nearly 6 million gold dragons) and so was he after an unfortunate hunting trip.
Don’t get us the wrong way. You have all rights to give yourself some rewards from time to time, but it’s advisable to use your financial resources carefully. Simply put: don’t overspend. In the long run, it could ruin you and your kingdom.
Do you remember what happened to Theon Greyjoy? Yeap. Also known as ‘Reek’. He betrayed Robb Stark in an unsuccessful attempt to invade the North. That said, he was capture by House Bolton and tortured by the bloodthirsty Ramsay Snow.
In short, taking a shortcut backfired for him. In personal finance, a common example of “taking a shortcut” is thinking one single asset will make you rich overnight. Building wealth is all about discipline and always following a smart investment approach. In this particular case, that would be a diversified portfolio of assets.
In the crypto world, that translates into holding different assets instead of one. With Crypterium, for example, you can store and manage multiple cryptocurrencies (Bitcoin, Ethereum, Litecoin) from a single app, and exchange them to support a diversified strategy. Is the market facing bearish pressure? Safeguard your investment by moving funds to a stablecoin in seconds.
Don’t be afraid to change sides
What speaks best of changing sides for good than Tyrion Lannister’s record? This unloved child and brother didn’t hesitate for a minute to become Daenerys’s strategic mastermind. The reason is simple: she offered better conditions than his own family… In other words, recognition for his achievements, protection against his enemies and an unlimited supply of wine.
Financially, Tyrion’s story sets a great example on how you should deal with things that aren’t working out for you. If your bank, PayPal or Western Union are taking a big commission for your cross-border payments, why not find another option? And yes, there is one.
Thanks to blockchain technology, you can send and receive digital currencies all across the Seven Kingdoms instantly, without paying any fees. With Crypterium, you can even get a prepaid card and use your cryptocurrencies offline in over 174 countries.
Always pay your debts
This lesson is not one to forget. Almost all members of the Lannister house have said it: “A Lannister always pays his debts.” Whether you believe the old Tywin, trust Queen Cersei or empathize with Ser Jaime, that’s totally up to you. But don’t ignore this wise quote, because this single factor has helped them become one of the wealthiest families in the Seven Kingdoms.
Paying off your debt is good way to reduce your monthly fixed expenses and gain more flexibility and options when it comes to saving and investing.
Don’t get the wrong idea. At some point, we all need to get a loan to cover some unexpected expenses. So, if you have to take one, at least make sure you’re getting the best deal possible. As a general rule, you should look into three things: rates, trustworthiness, hidden conditions.
If you are a cryptocurrency holder, you might consider a crypto-backed loan. C∙LEVER — the latest addition to the Crypterium Family — offers loans at a very competitive monthly rate of 0.5%, along with early repayments at no extra cost.
Protect from identity thieves
You can think of an identity thief as Arya Stark, who ended up serving the Many-Faced God. Remember what she used to say? “The girl has no name”. Guess what? Neither the hacker that’s after your personal data.
In the United States, more than 45,000 identities are stolen on a daily basis. Globally, two in five customers have experience a fraudulent event of this kind at least once.
To prevent your data getting into unwanted hands, keep your money in a reliable institution physically, but also digitally. Crypterium offers military-grade protection for wallets. Oh, and as we process crypto-fiat transactions off-chain, we are allow to recover funds if something is off.
Commit to a long-term investment
It’s a pain. We get it. But it pays off. If you have any doubts, ask Lord Petryl Baelish, also known as Littlefinger. He didn’t come from a rich family, but was able to build enormous wealth by leverage his ability to manipulate everyone around, but most importantly playing the long game with Sansa and Arya Stark. From a financial standpoint, this could relate to your ability to put aside money and let the compound interest do its magic.
Hope for the best, expect the worst
Three words: “Winter is coming.” This is probably the most famous quote in the entire series. No wonder it is also one of the most impactful financial lessons you can learn from it.
In Game of Thrones, they need the Night’s Watch. In your life, you need an emergency fund. One that protect you against any financial disasters. Setting one doesn’t have to be difficult. If you are using digital assets, you could save in stablecoins to ensure your funds aren’t affected by market volatility and they remain pegged to a fiat currency.
Crypterium is one of the most promising fintech companies, according to KPMG and H2Ventures. We are building a mobile app that meets the banking needs of the digital assets era.
Our goal is clear: with Crypterium, whatever you can do with traditional money you will able to do with digital assets. This idea is supported, among others, by the co-founder of TechCrunch Keith Teare and over 400,000 registered users, and the number is growing by day.
The team is led by former General Manager of Visa Central & Eastern Europe Steven Parker, and C-level executives from global financial institutions, like Renaissance Insurance, London Derivatives Exchange, American Express etc.
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