For movie buffs like myself, it was sad to hear of the passing of Chadwick Boseman. In case you had no idea, this was the man who brought to life the character of “King T’Challa” in Marvel’s Black Panther. MHSRIP. News of his death led me to watch the movie again and there is no denying, it was a great movie. In all the action, life lessons and inspiration, there are some money lessons that can be learnt from Wakanda;
- Never be blinded by emotions
In the movie, King T’Chaka’s long lost nephew let the negative emotions drive his actions which nearly cost the great city of Wakanda its economic strength. In investing, business or in your personal finances, do not allow emotions to cloud your judgement. Always be rational with your money decisions whether you are making it or spending it. Emotional decision making may become your downfall. Never be hyped up into making decisions, stop and think. Plan, strategize and consult. One of your greatest strengths in money-making is a sensible mind.
- Think generationally
In our African culture, one of our biggest challenges is the notion of “raising others so that they can support you one day”. This is a very literal translation of a Shona proverb that means you must take care of your children so that in your old age they can take care of you. Cultural issues have also led to the “black tax” burden which in some cases is a hindrance to saving and investing. This is important that our generation must work towards creating wealth that goes beyond generations. This involves training children wealth creation right from the word go.
- Develop your unique advantage
Wakanda was a country that was a hub of technology and wealth because of the element vibranium which could not be found anywhere else. The people of Wakanda built on this uniqueness by developing technologies that set them apart. The lesson here is to let your unique advantage be visible by developing it so that you can stand out from your competition. This also goes for small business owners. Develop your unique abilities so you can stand out from the crowd. That is where the money is!
- Effectively manage resources
Wakanda shows a good example of effective resource management as they grew a vibrant economy around vibranium. What we learn here is to be wise when managing finances. Effectively deploying resources will grow your personal finances and your business alike.
- Giving up is not an option
When the movie antagonist Killmonger started looting vibranium out of Wakanda, it looked like all hope was lost. However, they kept the fight going and eventually came out victorious in the protection of their resources. The takeaway is that you should keep going. Some investments may come up dry, markets crash, currencies lose value but do not give up. Take it in your stride and keep at it. Change your method if you must but stay focused on the goal of wealth creation.
- Invest for the future
The reason Wakanda grew to fame was its use of the vibranium which they found in their midst to develop. If they had kept it guarded, it would have just been another story of an impoverished African country. Multiply your income by investing. Keeping your money under your mattress might help you to see and count it every day, but it will certainly not grow. Educate yourself on the investments that work with your risk tolerance and income level.
To conclude, while Black Panther might be a fictional portrayal, there is a lot to be gleaned from the movie which can be applied to real-life situations. The bottom line is; Take charge of your personal finances. Wakanda forever!!
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