Use the Force — and These 10 Real Life Star Wars Money Lessons

The Force will be with us — always.

Over numerous movies and assorted iterations, “Star Wars” has taught us about overcoming obstacles, about dealing with family drama, about friendship, about patience, about beating the odds — and even about money.

Because this is The Penny Hoarder, we’re especially interested in the part about money.

Even though the epic saga of Luke Skywalker & Co. played out a long time ago in a galaxy far, far away, the financial wisdom applies to the here and now.

Prepare to make the jump into hyperspace! Here’s what we’ve learned:

1. Always Pay Your Debts — Or Else

Bingo. This is always the first one everyone thinks of.

Han Solo owes money to the giant slug-like crime boss, Jabba the Hutt. When he doesn’t pay up, Jabba sends bounty hunter Boba Fett after him — basically a debt collector with blaster pistols and green Mandalorian armor.

Instead of declaring bankruptcyHan ends up frozen in carbonite. Then Princess Leia, Luke, Lando and the iconic droids have to infiltrate Jabba’s lair to save him in a sequel.

Just like with Solo, the longer you don’t pay off your debtsthe bigger the problem gets. The interest piles up.

Pro Tip

Credit cards companies charge compound interest. If you don’t pay off your bill each month, the company charges interest that is added to the amount you owe. Then that new total is charged interest.

Your first step should be to figure out what you’re dealing with. Map out exactly what kind of debt you have. For example, which companies do you owe money to? Are any of your debts in collections? What are your minimum monthly payments on each credit card or loan? Can you ask for forbearance?

If you just can’t seem to chip away at the debt, stop your poor spending habits or raise your credit score, consider asking for help from a financial counselor.

2. Used Vehicles Offer the Best Value

The Millennium Falcon takes its share of verbal abuse.


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