What Super Mario Can Teach Us About Personal Finance

By BankBazaar | March 6, 2017

What Super Mario Can Teach Us About Personal Finance

There’s something about Super Mario. It isn’t just a game. It is a pop-culture legend. The game that shaped our childhood has more than just nostalgia to offer to us adults. Somewhere down the line we ‘grew up’ and traded the excitement of video game consoles for the drudgery of Credit Card and loan payments.

Additional Reading: 6 Terrible Consequences Of Procrastinating Credit Card Payments

While we were dodging Bowser’s evil minions and squashing those crab-looking mushrooms in our youth, we may have overlooked some major money lessons Super Mario could have taught us.

But, not anymore! Looking back, we’ve come up with 7 things everyone’s favourite virtual plumber can teach us about personal finance.

Here goes:

  1. Make Money, Live Longer

This was probably one of the first things Mario ever taught us. Remember those shiny coins spinning in the air? Every time you collected about 100 coins you got a new life!

Unfortunately, reality dictates that we only get one life to live. But making more money could certainly help you live a relatively prolonged and stress-free existence, especially if you take out a good Life Insurance policy.

Additional Reading: Live (Relatively) Long And Prosper

  1. If You Don’t Take Risks, You Won’t Make Money

How many times have you almost cracked Mario’s skull while breaking those big brick blocks? Didn’t you collect coins and discover magic mushrooms while doing so? Exactly!

If you aren’t going to be pro-active with your investments and take a few risks every now and then, you won’t really be making that extra bit of moolah.

Discover some unconventional ways to make money to multiply your finances, just like Mario!

  1. Set Goals and Follow Up Thoroughly

No matter what, Mario pursued his one goal – saving princess Toadstool – religiously! Setting lofty goals is always good for your financial health, but always remember to take it one level at a time.

Things are bound to get tougher with every passing level and you might have to give it a couple tries before you get through, but you always get to celebrate with a song in the end, so yay!

Find out how you can double your money with financial planning!

  1. There’s Always a Different Way

Super Mario taught us that there are always alternate ways to do things. When you got stuck on a level and there was no way forward, you probably just had to try going down a drain pipe or climb a cloud.

Similarly, there are several alternate ways to deal with your finances. If you feel your Fixed Deposit is not the right kind of investment, maybe you should invest in a Recurring Deposit or a PPF.

If you think your Home Loan interest rate is too high, negotiate or get your balance transferred to another bank that is offering a more competitive rate! There is always a different way to do stuff.

Additional Reading: Home Loan Interest Rate Guide

  1. Having an Exit Strategy

When Bowser’s bullets came speeding at Mario, what did he do? He ducked or hid in a drain pipe! Not all the decisions you make will turn out to be successful. When the going gets tough, the tough get going! Prepare for any kind of financial hurdle that could come your way and brace for impact.

Say a nincompoop motorist bumped into your car’s taillight! Get Car Insurance to cover all kinds of accident costs. Did your roof catch fire during Diwali? Home Insurance will sort you out.

Additional Reading: How Home Insurance Could Keep You From Going Crackers During Diwali

  1. No Financial Problem is the Same

Yeah, you could kill an evil mushroom just by jumping on it, but some heinous monsters like the Venus Fly Traps coming out of the drain pipes and the spiked turtle are harder to kill. You need to use different methods to defeat them. Similarly, every financial problem needs to be handled differently.

Got into Credit Card debt? Pay it off with your savings or maybe get a Personal Loan. Dealing with an Education Loan? Maybe you could pay it off completely or avail tax benefits on the interest paid on the loan.

Additional Reading: Top 3 Financial Dilemmas Solved

  1. Adapt to Change – Invest in a Diverse Portfolio

There was a reason why Mario could change forms at different levels. There was Statue Mario, Boomerang Mario, Frog Mario, Cloud Mario and endless other forms that helped him get through a level easily. Being adaptable to change and finding ways to adapt to change is important when dealing with your finances.

Investing in a diverse portfolio is one way to adapt to market changes and tight financial scenarios. Don’t just put your money in similar kinds of investments. Put them in various instruments that can bail you out in difficult situations.

It’s best to maintain a high-risk and low-risk portfolio mix so you are always secured during a financial crunch.

Additional Reading: How Important Is A Well-Diversified Portfolio

We hope that brought about a wave of nostalgia. Let’s all do money the Mario way! Has the theme song started playing in your head already?

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