{"id":43396,"date":"2023-08-02T05:13:13","date_gmt":"2023-08-02T09:13:13","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/4-financial-lessons-you-can-learn-from-these-netflix-shows\/"},"modified":"2023-08-02T05:13:15","modified_gmt":"2023-08-02T09:13:15","slug":"4-financial-lessons-you-can-learn-from-these-netflix-shows","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43396","title":{"rendered":"4 financial lessons you can learn from these Netflix shows"},"content":{"rendered":"
\n

This <\/em>article<\/em> is reprinted by permission from <\/em>NerdWallet<\/em>.\u00a0<\/em><\/p>\n

In the past year, streaming service Netflix
\n NFLX,
\n -0.08%<\/bg-quote>
\n has released two financially focused offerings: the film \u201cGet Smart With Money\u201d and the series \u201cHow to Get Rich.\u201d Both feature powerhouse financial influencers who help people reevaluate their approaches to money to educate and empower them. Here are four takeaways that you can apply to your own life, no matter your financial situation.<\/p>\n

\n

Takeaways from \u2018Get Smart With Money\u2019<\/strong><\/h2>\n

The \u201cGet Smart With Money\u201d documentary features well-known financial writers, bloggers and podcasters who share their expertise on how to become better at managing money. Here are a couple of lessons they imparted.<\/p>\n

<\/p>\n
<\/p>\n<\/figure><\/div>\n

1. Emotion management is key to money management<\/strong><\/p>\n

In \u201cGet Smart With Money,\u201d some of the featured participants were dealing with significant debt or with the challenges of\u00a0living paycheck to paycheck. The stress, fear and frustration that come with money can significantly impact how you manage it.<\/p>\n

Tiffany Aliche, a financial educator also known as The Budgetnista, talks through this fear and encourages people to face their money head-on to see what they owe and where they need to save more. If you\u2019re afraid of your money, that\u2019s going to affect how you manage your money, she says in the film.<\/p>\n

See<\/strong>: More than half of Americans who make $100,000 say they live paycheck to paycheck: survey<\/p>\n

2. Money is a tool to help you create the life you desire<\/strong><\/p>\n

Aliche tells one of the show participants to create a \u201cdream fund,\u201d a special savings account for goals outside of regular bills and emergency fund\u00a0budgeting. This takeaway is a great reminder that money is meant to be used for things that will make you happy in addition to paying for daily expenses.<\/p>\n

Takeaways from \u2018How to Get Rich\u2019<\/strong><\/h2>\n

Ramit Sethi, author of bestselling book \u201cI Will Teach You to Be Rich,\u201d hosts this Netflix series and helps participants define their goals and make moves to achieve them. Here are some of the lessons and tips from the show.<\/p>\n

3. Think about what makes you happy<\/strong><\/p>\n

One of the pillars of Sethi\u2019s advice is the concept of \u201ca rich life,\u201d meaning the financial ability to do things that bring joy. He emphasizes that a rich life comes in many forms, like being able to take time off from work when you want to, fly in business class for long trips or even help a parent retire, as was the goal of one of the show participants.<\/p>\n

You might like: <\/strong>You track savings, spending and investments. But are you paying attention to the right numbers?<\/p>\n

Mindy Jensen, a host of financial podcast \u201cBiggerPockets Money,\u201d had an aha moment with Sethi when she was a guest on his podcast. Sethi\u2019s podcast is separate from his Netflix show, but he emphasizes a lot of similar money guidelines. As Sethi discussed the concept of a rich life with Jensen and her husband \u2014 who are both financially independent, meaning they have enough money to pay their living expenses for the rest of their lives \u2014 they realized that even with their large net worth, they weren\u2019t spending enough money to make life more enjoyable. After the conversation, the couple decided that they wanted to spend more money on travel with their two teenage daughters.<\/p>\n

\u201cWe don\u2019t need or want more things, but we want more experiences,\u201d Jensen told NerdWallet.<\/p>\n

Looking back on her journey to financial independence, Jensen also realized that there was more she and her husband could have done to start their rich life earlier.<\/p>\n

\u201cYou can continue to contribute to your retirement accounts and investments, but it doesn\u2019t have to be this frantic mad dash to the finish line,\u201d she says. \u201cYou can do it a little slower and enjoy your life.\u201d<\/p>\n

Plus<\/strong>: Everything coming to Netflix in August 2023 \u2014 and what\u2019s leaving<\/p>\n

4. Homeownership doesn\u2019t have to be a financial goal<\/strong><\/p>\n

It can be hard to break away from the idea of homeownership as a major financial achievement. In America, the mythos of the \u201cwhite picket fence\u201d is often part of the way people describe success. Sethi\u2019s perspective on homeownership, however, differs from popular convention. In \u201cHow to Get Rich,\u201d he advises participants to keep in mind all of the additional costs that come with homeownership compared with what\u2019s covered by a landlord.<\/p>\n

Homeownership means that everything falls to you, on top of whatever you pay for your mortgage, home insurance, homeowners association fees and property taxes. If you find a rental that leaves enough room in your budget to allow you to invest more,\u00a0the math can sometimes work out better\u00a0for your net worth in the long run, Sethi says.<\/p>\n

Don\u2019t miss:<\/strong> Netflix criticized for posting AI jobs paying up to $900,000 while writers and actors are on strike<\/p>\n

For people who are getting started on their financial journey \u2014 as well as those who are well on their way \u2014 these shows can provide inspiration and information about how to make your money work better for you.<\/p>\n

More From NerdWallet<\/strong><\/p>\n

Chanelle Bessette writes for NerdWallet. Email: cbessette@nerdwallet.com.<\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This article is reprinted by permission from NerdWallet.\u00a0 In the past year, streaming service Netflix NFLX, -0.08% has released two financially focused offerings: the film \u201cGet Smart With Money\u201d and the series \u201cHow to Get Rich.\u201d Both feature powerhouse financial influencers who help people reevaluate their approaches to money to educate and empower them. Here […]<\/p>\n","protected":false},"author":1,"featured_media":43397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-43396","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"\n4 financial lessons you can learn from these Netflix shows | iFintechWorld<\/title>\n<meta name=\"description\" content=\"This article is reprinted by permission from NerdWallet.\u00a0 In the past year, streaming service Netflix NFLX, -0.08% has released two financially focused\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=43396\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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