3 Financial lessons to learn from It's Okay to Not Be Okay
K-drama fans! It has been over a month since the finale of the hit drama It's Okay to Not Be Okay was aired. A drama with depth that has pulled the heartstrings of many. Many of us are still missing the drama (myself included)! IOTNBO taught us many life lessons - but financial lessons?
1. Count up to three before making any impulse purchase
This scene left us squealing for what is to come! But aside from that, Gang Tae teaches us how to calm down when you can't control yourself. With all the 9.9 sales going on, many of us are drawn into the discount frenzy, buying items that we don't need on impulse. Remember to always calm yourself down - you can use Gang Tae's method of counting up to three, before pressing the "Pay" button. Not all items in your shopping cart are necessary - differentiate your needs vs wants and filter out what is not needed before you pay!
2. Save up SMART for your goals
Flashback to episode 3 when Sang Tae told us all his determination to save up 32,890,000 KRW to buy a camping car. He has created a very SMART goal for himself - which increases his chance of success!
Specific - down to the exact dollars he knew how much he needed
Measurable - he keeps tracks of how much he has saved so far in his piggy bank
Achievable - he took actions to achieve his goals, by doing part-time jobs, painting the hospital mural, and becoming Moon Young's illustrator
Realistic - while a bit of a high reach at first with just doing part-time jobs, the goal became more realistic as he worked on the hospital mural and Moon Young's storybook illustrations
Time-based- although he didn't set a time period of himself, he knew he wanted the camping car as soon as possible, so this created a sense of urgency and motivation to reach the goal
Read more about SMART savings goals in our earlier blog post!
3. Allocate your allowance/earnings
This heartwarming scene left an impression in all our hearts. We could feel Sang Tae's love for Gang Tae and Moon Young from how he allocated 1/3 of his allowance each to Gang Tae, Moon Young, and himself.
We should all learn from Sang Tae on how he allocates his earnings into buckets. A common three-bucket rule is to allocate into spending, saving, and giving. Money is not meant to be spent immediately! Learn to budget well, and remember to keep aside some money for your loved ones and for doing good! Recap some budgeting tips here.
This article is a fun post for those who are missing the drama. While we reminisce about these scenes, let's also take a moment to reflect on these financial lessons! Everything you see can actually be applied and used in your day-to-day activities. Hope you get inspired from these 3 tips! Check Taby out if you are interested in a family-friendly pocket-money app for designed for parents and children!