Across countless films and various adaptations, “Star Wars” has taught us about overcoming hurdles, coping with family strife, fostering friendship, practicing patience, defying the odds — and even handling money.
Because this is Savinly, we’re particularly intrigued by the financial lessons.
Although the epic saga of Luke Skywalker and company unfolded a long time ago in a galaxy far, far away, the fiscal insights are applicable to life here and now.
Prepare to engage the hyperdrive! Here’s what we’ve gleaned:
1. Always Settle Your Debts — Or Face Consequences
Bingo. This is typically the first lesson that comes to mind.
Han Solo owes a heap to the enormous slug-like crime lord, Jabba the Hutt. When he fails to repay, Jabba dispatches the bounty hunter Boba Fett — basically a debt collector equipped with blasters and green Mandalorian armor.
Instead of filing for bankruptcy, Han winds up frozen in carbonite. Then Leia, Luke, Lando and the legendary droids must break into Jabba’s den to rescue him in a later installment.
Like Solo, the longer you ignore your debts, the worse the situation becomes. Interest accumulates.
Your first move should be to identify exactly what you owe. Lay out the specifics: which lenders are involved? Are any balances in collections? What are the minimum monthly obligations on each card or loan? Can you request forbearance?
If you can’t seem to make progress on the balances, curb poor spending habits or boost your credit score, think about getting assistance from a financial counselor.
2. Pre-Owned Vehicles Often Deliver the Best Value
The Millennium Falcon takes more than its share of flak.
“You came in that thing? You’re braver than I thought,” Leia quips on first seeing the ship. In “The Force Awakens,” Rey dismisses it as “garbage.”
Yet the Falcon performs when it counts. (Did we mention it completed the Kessel Run in under 12 parsecs?) Turns out you don’t always need a pristine new ride — what you want is a dependable one.
Used cars frequently make more financial sense than brand-new models, and you can use a car comparison spreadsheet to help secure the best purchase.
3. Haggle for the Best Possible Deal
Early in “A New Hope,” Luke and Uncle Owen haggle with some creepy little jawas over the price of secondhand droids.
When an R2 unit they’ve just bought immediately quits working, Uncle Owen loudly challenges the jawas about the quality of their goods: “Hey, what are you trying to push on us?”
The outcome: Luke’s household ends up with the finest droid, R2-D2.
Bargaining isn’t only for bazaars and automobiles; you should also negotiate your salary — here are tips to secure a stronger offer.
4. “Do or Do Not. There is No Try.”
Yoda’s counsel to Luke in “The Empire Strikes Back” is one of the saga’s most Zen-like moments.
As ever, Yoda nails it. You either commit and do it, or you don’t. Don’t merely try.
If you plan to change your financial habits, stick with them and be persistent. Don’t attempt something once or twice and then abandon it. Consistency is the key to success.
We get it — resisting the urge to spend “just a little” on yourself can be hard, especially when you’re tired, stressed or worn out. But impulse purchases can seriously erode your savings or derail efforts to eliminate credit card debt.
5. Don’t Let Small Oversights Destroy Everything
The Empire spared no cost building the Death Star, didn’t they?
Yet they missed that tiny design flaw that let the Rebel Alliance obliterate the whole thing. Oops!
Don’t ignore the small stuff, because it will come back to haunt you. Don’t skimp on upkeep and fixes for major assets like your home and car. If you neglect those things, you’ll pay more down the road.
Check these suggestions for budgeting home repairs so you don’t fall into debt over the next big fix. You can also figure out how much to set aside for car maintenance to keep your vehicle on the road.
6. Get Rid of Unwanted Items
The “Star Wars” setting differs from Star Trek and other sci-fi worlds. “Star Wars” has a “lived-in” aesthetic — it’s cluttered. Sound familiar? Just like your home.
And in that universe, people make money selling that clutter — and you should too.
In “The Force Awakens,” Rey survives by scavenging parts on Jakku. On Tatooine, those jawas act as salvagers as well.
In “The Phantom Menace” — yes, here’s our sole mention of the prequels! — Qui-Gon Jinn and Obi-Wan Kenobi meet young Anakin in a junk shop where he repairs things.
Back on our world, several apps make it easier than ever to sell your used items online.
To free space and pick up extra cash, sell your old gadgets (they’re essentially our droids). Listing items in the right marketplaces increases the odds you’ll get a fair price.
7. Watch Out for Scams. Know an Item’s True Value.
Early in “The Force Awakens,” a famished Rey nearly trades the droid BB-8 for 60 servings of inflatable food. She’s tempted but senses something isn’t right and pulls back.
That’s the best way to spot a scam: if a deal appears too good to be true, it probably is.
Whether you’re selling a droid or buying shoes online, you need to be wary of scams. Here’s how to shield yourself from work-from-home schemes, bogus student loan forgiveness offers and identity theft.
8. Tap into the Gig Economy
When Luke and Obi-Wan need transport to Alderaan, they basically book a ride — a space Uber. They pay the Millennium Falcon to take them there.
Here on Earth, you can channel your inner Han and Chewie by driving your car to deliver groceries, meals and packages.
9. Sand People Walk Single File to Conceal Their Numbers
You might think we can extract some finance lesson from that… but no. That’s not a useful analogy.
We’ve got nothing monetary to share here. Except this: invest in sturdy walking shoes.
10. Have a Long-Term Strategy
The heroes and villains in the “Star Wars” saga are committed to long-range planning.
Emperor Palpatine’s scheme unfolds over multiple films. After he reveals himself as Darth Sidious and makes his move, Yoda and Obi-Wan lay low for decades, waiting for an opportunity to strike back. (And we won’t even dig into the long-term maneuvering shown in “The Rise of Skywalker.”)
When we first see Obi-Wan and Yoda, they’re holed up in a cave and a swamp, respectively. Apparently the Jedi Council didn’t offer much of a retirement match.
The earlier you begin saving, investing and chipping away at debt, the better your future will look.
All in all, that’s what “Star Wars” has taught us about money so far. Take it how you will.
Do, or do not.
There is no try.
Alex Mercer ([email protected]) is a senior writer at Savinly. His “Star Wars”-loving teammates chipped in on this piece.
