Money/Life Lessons from Toy Story 3 (without spoilers)

This post was inspired by my recent viewing of Toy Story 3 – which in my view was amazing!

Behind all the big name actors, millions in spending in CGI and heavy laughs, Toy Story 3 teaches us a lot of lessons on everyday life. Most of the lessons can be quite hysterical, but they are relevant  – I list some of the money-related lessons all of us eventually learn.

#1. Time flies by – so be prepared for it.

Your finances, investments can fly by, so be prepared. Don’t wait until the last minute, next week or even tomorrow to have to deal with money related issues.

As you get older, you may realize that time goes by a lot faster (relatively), then you were at a younger age. This phenomenon can have drastic implications for your personal finances. Dealing with money, or lack of it, can be a stressful and infuriating thing. But taking the time to deal with sooner, rather than later can mean the difference between late fees, penalties, and peace of mind.

Money Lesson: Don’t let time be your enemy when it comes to investments or finances – let it compliment your financial goals. If you have no idea where you want to be – financially – then visit a financial planner. Don’t be passive when it comes to finances, get planning. Start today.

#2. What may seem great, may not be

Don’t jump the gun on evaluating the decision, investment or place before you get to know it.

We’ve all seen Bernie Madoff and other financial criminals take investors money through the appearance of a lifetime opportunity. Things like this don’t happen occasionally, they happen all the time. All the time. There are numerous TV shows highlighting internet scams where people have lost all their savings in the hopes they be awarded millions. Most learn from an early age this principle but it never seems to amaze me how much people ignore this time-test principle in dating, life and finance.

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Money Lessons: Be cautious, hesitant and careful. When it comes to money there are too many pitfalls – not to be extra cautious.

#3. Past performance may be a predictor after all

Consider the source of information and advice, before they cost you big.

As George Bush infamously tried to verbalize: “Fool me once, shame on you: Fool me twice, shame on me.” Don’t get fooled twice. People can change, investments can change, companies can change – but it’s harder if they started with a negative balance sheet (sort of speak). If people have hurt you before, they are more likely to hurt you again. Read reviews online, talk to people, get information before risking a significant sum of money.

Money Lesson: Don’t be too forgiving, too early. Make them earn it.

#4. Know when to move on

One of my last businesses was losing money, and all the business investments I did – never panned out. It may be best to cut your losses and move on.

Knowing when to quit and move on is quite a valuable skill. But sometimes it easier to do then you thought. Don’t let your emotions control what would be best for you. Its hard not to loan money to relatives, but ultimately it may be beneficial for both parties – not loaning money.  This skill can litterally earn you millions of dollars in life.

Take poker, for example, what if you had the foresight to leave before you lost a huge hand. How much would you earn over a lifetime? Now combine other areas, like investments, jobs, romance, etc.

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Money Lesson: Have realistic expectations.

>> Can you find other lessons in Toy Story 3? I would love to find out – please comment below.

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