Good financial habits seem like the remit of adulthood, but the habits we learn as children definitely inform our approach to money management later on.
Here are ten lessons that we learned from Disney movies that still hold true for all of us:
- Little Mermaid – READ THE CONTRACT. And truly understand what it means for you (and your family) if you default. Not all of us are related to the King of the Ocean should we require bailing out later down the track.
- Up – have different pots of money for savings and emergencies. A series of disasters meant that Ellie and Carl had to spend the money they were saving for Paradise Falls on home repairs, unexpected medical costs and the like. If you plan properly, you can take care of unexpected things and still go on the holiday of your dreams.
- The Lion King – family are not necessarily the best ones to trust with the things you hold dear in the event of your unexpected passing. If you want to make sure your family are safe – take expert advice, write a will and make sure you use reputable experts to safeguard your family and your assets.
- Pocahontas – get rich quick schemes are generally dodgy. If you want to make money, have a long-term plan and check that your investments are ethically and environmentally sound.
- The Princess and the Frog – regardless of your initial circumstances, a goal without a plan is just a dream. Setting clear and achievable goals and working hard towards them is more likely to result in a great outcome for you, rather than sitting around waiting for a talking frog or a prince from an unidentified monarchy to show up and make your dreams come true.
- Herbie the Love Bug – this movie has our inner financial adviser muttering away about car insurance and ensuring that the cover you have is appropriate. They are also muttering away about whether or not cars have souls but that’s a conversation for another day.
- Mary Poppins – while George Banks finds much to teach his children about the joys of compound interest and credit lines, Mary Poppin teaches the same children about the value of things in life that aren’t money based. This balance is essential to all of us.
- Beauty and the Beast – before you invest in anything – do your research. Opportunities can hide behind challenges and vice versa. The more you do to educate yourself, the more able you are to make informed decisions about your future.
- The Parent Trap – there is a lot of value in different perspectives. Putting yourself into somebody else’s shoes and having a look at your choices from their point of view can provide valuable insights that will positively impact your life in the long term.
- Alice in Wonderland – knowing where you want to go is the key to getting there. A clear strategy helps keep you focused on the end goal, allowing you to enjoy the people and experiences that life throws at you, without stopping from you arriving at your destination.
Disclaimer: The ideas, discussions, options and details expressed in SCCU Blogs are for general informational purposes only and are not intended to provide specific personal advice or recommendations for any individual or on any specific security or investment product. We intended only to provide education about the financial and banking industry to make the complex simple, and help everyday customers realise their dreams.