6 Money Lessons I Never Expected To Learn From Harry Potter

Harry Potter is one of the most read books in the world, and while the series has officially ended, harry potter will always have a special place in our lives, at least for some of us. There will even be a series coming out in the next few years, which I’m extremely excited to watch.

We know about the valuable lessons on friendship, loyalty, bravery and education this movie and book have to offer, but it doesn’t stop there. There are quite a few financial lessons too. Yes, you heard that right. Harry Potter offers some of the most important lessons on finance that you’ll ever hear.

Lessons:
1- Save for the Future
Harry’s parents left him a significant amount of money at Gringotts Bank, ensuring he could cover his expenses. This reminds us to save for the future and have a financial cushion for unexpected events, like an emergency fund.

2- Invest Early
Fred and George Weasley saved enough from selling their magical products to open their joke shop, with help from Harry's Triwizard winnings. Investing early can yield significant rewards through the power of compounding.

3- Diversify Your Portfolio
Voldemort's Horcruxes teach us the importance of diversification. By spreading your money across various investments—stocks, bonds, gold—you can reduce risks and counter market volatility.

4- Money Can’t Buy Respect
The Malfoy family’s wealth didn’t earn them respect due to their unethical actions. Respect is earned through honorable actions, not money. Wealth can open doors but doesn’t build lasting, positive regard.

5- Don’t Gamble
Ludovic Bagman’s gambling addiction led to financial and professional losses. This highlights the importance of managing risks and being cautious with investments, especially in volatile markets.

6- Do Your Research
Hermione’s research is a crucial part of the series. Investors should do the same, investigating a company’s financial health and market conditions before making decisions to reduce risks and increase returns.

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WHO AM I?

I’m Matias (pronounced ma-tee-as) 👋, an Economist and Master in Finance. After spending +10 years around “industry experts” from Doctors in Finance & Economics to full-on Finance Professionals, I’ve realized that most money advice is complicated, full of jargon, or just irrelevant. I’ve since made it my mission to help people take control of their finances and their lives by providing easy and actionable tips on personal finance and help them live a happier life.

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