If like us, you’re patiently (or not so patiently) awaiting Squid Game season 2. Hopefully this post will serve to satisfy both your need for more Squid Game content AND your inner money nerd.

Don’t worry- we’ve done our best to avoid spoilers with these squid game money lessons. We don’t really discuss anything past the first episode and promise we won’t drop any major plot bombs on you! 

10 Financial Lessons We Can Learn from Squid Game

Squid Game is a thrilling drama in which individuals who have found themselves in dire straits financially are given an opportunity to solve all of their money problems, but at an ultimate cost. 

Needless to say, money plays a huge part in the plot of the show. And there are many lessons that we can walk away with after watching. So, here are 10 money lessons that you can learn from the hit Netflix TV show Squid Game!

1. Don’t Just “Spend Money While You’ve Got It”

This first of the squid game money lessons comes within the first few minutes of the show, when the main character Seong Gi-hun expresses his philosophy on spending. 

When arguing with his mother about the amount of money he needs to spend on his daughter’s birthday, he says something along the lines of “let’s use some when we have to.” Essentially, he’s arguing that because they can’t seem to get ahead financially, they should just spend money while they have it. 

While this is a huge character flaw with Gi-hun, it’s also a mentality that a lot of folks have when it comes to money. If you still struggle with having enough money after doing your best to manage it, it’s easy to throw in the towel and just try to live it up while you can. However, this will only make things worse. 

Digging yourself in deeper is probably the worst thing that you can do when your finances are in a bad place. The more money you spend, and the more debt you get yourself into, the longer it’s going to take you to dig yourself out of that significantly deeper hole. If you’re struggling to make ends meet consistently, chances are you’ll have to take a multi-faceted approach in order to put an end to the cycle. 

Instead of just spending money while you have it, try taking these steps to escape the cycle of living paycheck to paycheck. 

2. Depending too much on parents can sour your relationship

Another money lesson we can take away from Squid Game is understanding the consequences that poor money habits can have on your relationships. 

In Squid Game, Gi-hun lives with his mother, and depends on her for money, food and shelter. Despite the fact that he is very much a grown man. Not to mention, he steals from her to get money to fund his gambling addiction. This means that his elderly mother has to essentially work herself into the ground to support both herself and her adult son. It’s obvious in the show that this has put a strain on their relationship. 

Turns out, this can be a reality both on and off the screen. In his book, What the Happiest Retirees Know, Wes Moss discusses what makes for a happy retirement. The happiest folks live near their kids in retirement, not with them. Having healthy boundaries and respecting each other is a much better approach to handling a relationship with your parents as an adult.

Related post: How to move out of your parents’ house

3. Gambling too often can hurt you

With the rise of sports gambling apps, it’s never been easier to throw a few bucks on your favorite team or player. And while a few dollars here and there may seem harmless, it could certainly spiral into something much more nefarious. This is why it’s best to stay away from it altogether, especially if you struggle to set boundaries with yourself. 

After stealing from his hard working mother, Gi-hun takes that money to bet on a horse race. And while he does mention that he works on and off as a chauffeur, since we never see him at work, it’s suggested that he relies mainly on gambling to make his money. Not a great strategy.

It’s made clear that his affinity for gambling has progressed into something entirely unhealthy when his mother gives him money to buy a gift for his daughter… But instead of heading to the store to pick something out for her, he gambles again instead. 

Even though a weekend of fun in Vegas might be an exciting way to celebrate with friends, it can be a slippery slope for many. So make sure to cut it off altogether if you feel it starting to become a habit. Or better yet, avoid it altogether. 

4. Consumption is a slippery slope

Even when we think we’re being smart consumers, companies are constantly vying for our dollars. They are always attempting to subconsciously prime us to spend more. 

Sometimes, when we think we’re making out with a free sample or a discount, when really we’ve just been influenced to make a purchase we weren’t previously planning to make. 

Take for example the free samples at Costco. If you grew up in a frugal family, you know that a place with tons of samples like Costco or Stew Leonards can make for a “free” lunch. However, these retailers often have the last laugh when you walk out with three bags of chips and salsa that you weren’t planning on buying when you walked in. 

Similarly, when a stranger asks Gi-Hun to play a game with him, and gives him a taste of a small monetary prize, he’s essentially being primed to take on more and more risk. He continues to play the game even though it puts him at risk of bodily harm because he wants another taste of the money he’s won. 

So, next time you feel like you’re getting a sweet deal or a freebie, remember to ask yourself why you’re being given it. Once you’re aware of the reason behind that gift, you’ll be more likely to actually take the freebie without spending more than you planned to. 

5. Don’t give away money you can’t live without

There’s a scene in the first episode of Squid Game when one of the characters gives money away… But then something unexpected happens and he has to ask for that money back. Awkkkkwaarrrdddddd!

Being generous with your money, even when you don’t have much of it, is a totally worthwhile pursuit. However, you can’t give away money that you need to make ends meet. This can lead to resentment and awkwardness in your relationships, and put both parties in a tough financial spot. 

If you’re short on money, be generous on a smaller scale. Give your friends and family your time by helping them with a difficult task. Or buy them lunch now and then. They’ll definitely appreciate that more than a large sum of money that you might not be able to afford. 

6. A lack of money does not equate to moral failure

If there’s one message that rings loud and clear from Squid Game, it’s that a lack of money and resources does not equate to moral failure. I won’t get into the details here to prevent spoilers… But there are plenty of characters who are good people at heart who have been handed a less than ideal deck of cards.

Poverty is not a moral failing. It is simply a lack of money. And the weight of all the responsibility doesn’t always fall entirely on the individual. As shown in this paper by NBER, even just increasing access to better paying jobs for folks in impovershished conditions greatly reduces poverty levels. 

It’s clear that there are definitely some problems on a societal level that need fixing.

If you’re struggling with a lack of resources right now, it’s time to let go of any shame you’re feeling. And while you should use your past to help inform better choices in the future, it’s just not an efficient use of time and energy to beat yourself up over the past. Instead, take a look at some of these resources, and take steps today towards a brighter financial future!

7. Debt can ruin your life 

One of the more obvious squid game money lessons is that debt can have catastrophic effects on both your finances and your life. Copious amounts of debt is the entire reason that the characters in Squid Game end up in their dystopian situation. And while it probably won’t have deadly consequences in your life, it can still ruin your credit, relationships, and ability to get ahead. 

Worst of all, debt can even make you dumber. Anyone who has come out from a mountain of debt knows that at a certain point it starts to influence all of your decisions and interactions. Well, it turns out that an influx of debt can actually drop your IQ by as much as 12 points!

If you’re struggling with large amounts of debt, it’s imperative that you create a debt payoff plan. Actually crunching the numbers and sticking to a payoff strategy will help you to avoid paying more in interest. It will help you get the situation under control. The debt avalanche and debt snowball strategies are two tried and true methods that can help you pay off that balance once and for all.

8. Where you get your debt matters

In a perfect world, we would love it if you never had to take on debt. But, we live on planet Earth and we know that this just isn’t realistic for everyone. However, when taking on debt, it’s important to pay attention to what kind of debt you’re opting for. And it’s really important where you get your debt. 

In Squid Game, Gi-Hun gets money from loan sharks to fuel his gambling addiction. And as you can probably guess, it doesn’t work out great for him. 

While we aren’t necessarily worried about you turning to loan sharks to pay for things like college or a car, there are some surprisingly legal yet absolutely terrible lenders to watch out for. Namely, payday lenders and title loan companies. If you see either of these, run swiftly in the opposite direction. 

Somehow, these businesses are allowed to charge exorbitant amounts of interest, and they prey on people in need. Taking out loans from these people can cause even more financial stress and turmoil, so avoid them at all costs. 

Instead, seek help from local non-profits, your local credit union, or turn to a patient advocate if you’re dealing with medical debt. Remember, not all debt is bad debt! But bad debt can be particularly damaging over the long-term.

9. Debt doesn’t discriminate based on income

Having a larger income doesn’t always mean that you’re crushing it financially. One of the main characters in Squid Game works in investment banking. And even though he had been making loads of money for years, he still managed to dig himself into a hole. It’s so deep that he was willing to risk it all to get out of it. 

This is something we see all too often in our own world. 40% of people making $100,000 still report living paycheck to paycheck. If you’re in that boat, it’s time to take a good look at your living expenses. Try making some budget cuts so that you can get a month ahead.

Some of this can be attributed to lifestyle creep. When you get accustomed to little lifestyle improvements here and there, it’s difficult to walk it back. For example, if you’ve become used to getting your groceries delivered, it’s hard to then go back to doing the shopping yourself at the grocery store. That’s why it’s important to keep an eye on lifestyle inflation before it gets out of control. 

10. There’s no quick fix 

One of the most important squid game money lessons is that there is no quick fix to improve your finances. In fact, if someone offers you a solution that seems too good to be true, it probably is. RUN!!!

In the show, although it seems like there is a fast and simple solution to the money problems Gi-hun has been facing, it turns out to be something much darker underneath the surface. He probably would have been much better off just putting together a debt repayment plan. And working to maximize his income. But that wouldn’t make very entertaining TV, would it!?

Unfortunately, if you’ve taken a decade or more to dig yourself into a financial hole, you’re probably not going to be able to get out of it overnight, or even in a year. 

It took years of financial mistakes or neglect to get into this mess. And it will take sustained effort and building solid frugal habits to get out of it. The good news is that with time and a lot of perseverance, anything is possible. You can totally get out from under almost any financial burden you are facing, with time and a solid plan.

The Bottom Line: 

Art often imitates life, and Squid Game is no different. Perhaps one of the reasons why this show is so successful is because we’re able to see a little bit of ourselves in these characters.

That’s why sometimes valuable moral lessons are best received through television and film. 

When watching with a critical eye you can almost always find valuable life lessons (including financial ones) to take with you!

Related Posts:

• Needs vs Wants: Budgeting for Both
• Terrible Financial Advice You Should Run Far Away From
• Using Financial Stress to Your Advantage

Beer tasting notes:

While talking about squid game money lessons we each enjoyed an Alpha Abstraction IPA Vol 18 by Wild Leap! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe, and give us a quick review in Apple Podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!