Would you like to participate in a “Squid Game”? Here’s a safer plan to escape debt


Gi-hun and the rest of the crew should have explored a few other options first.

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Sometimes debt can be so suffocating that it feels like you are struggling to survive.

So, is it really that far-fetched to imagine that hundreds of people would put their lives on the line for a chance to gain financial freedom?

This is the concept behind the Netflix hit Squid game . Desperately in need of cash, 456 participants compete in dark twists and turns on traditional children’s games. The winners walk away with millions; losers die.

In real life there is no Squid game – but neither does it need to be. Here’s what protagonist Gi-hun and the rest of the cast should have done to escape debt with their bodies intact.

Evaluate your opponent

Casting of the squid game


One of Gi-hun’s biggest failures is his inability to stop, think, and plan ahead. He always acts out of instinct and emotion, but as he learns throughout the series, knowing what you’re up against can be a huge advantage.

Start by gathering all of your invoices and balances and go over them as a group. This includes all of your credit cards, student loans, car loans, mortgages, and any other source of debt.

It allows to create a worksheet with a column for the outstanding balance of each debt, the interest rate and the minimum monthly payment. The final list might seem like a lot, but breaking it down will help you decide which debts to tackle first.

Choose your strategy

Squid game cookie


Just like there is more than one way to cut an umbrella shaped cookie, there is more than one way to approach debt.

The “avalanche” method will save you the most money, but some people find it more difficult. Tackle your highest interest debt first, even if it has the highest balance, while making minimum payments on all your other bills.


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If you find this too demoralizing, you can try the “snowball” approach instead. Throw your money on the bills with the smallest balances first, ridding them of them and providing the boost of confidence you need to solve your most important issues.

There is another factor to consider if you are unable to make all of your minimum payments. Some debts, like mortgages and car loans, are “secured” – you agree to give up your house or car if you can’t pay your bills.

Part of what made failed investor Cho Sang-woo so desperate was that he (somehow) used his mother’s house and business as collateral. You may also decide that there are assets that you cannot afford to lose.

Reduce your targets

Squid game robot


A common strategy for eliminating high interest debt, like the one you get with credit cards, payday loan shops, and bloodthirsty loan sharks, is consolidation.

The concept is simple: you take out a new loan with a lower interest rate and use it to pay off your other balances. That leaves you with only one bill to worry about, and you can spend more money on paying off the balance instead of interest charges. Or, if you’re a homeowner, you can take out a home equity line of credit, which has a lower interest profile than many other borrowing options.

Some Squid game players would have had a hard time using this strategy because you have to convince someone to give you a new loan. Drug addict Gi-hun likely trashed his credit rating – that three-digit number that tells lenders how reliable you are – while North Korean defector Sae-byeok may not have had the chance to build his score.


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After looking at your own score and taking a few steps to improve it, you may want to consider a number of consolidation options:

  • Personal loan. Find out the rates available at banks, credit unions and online lenders. You might even consider a secured loan if you are still working on building your credit.
  • Balance transfer credit card. These cards charge low or no interest for a limited time, giving you a brief window to pay off your debts without getting burdened. However, some cards charge a hefty fee to transfer your balance, and once the promotional period is over, the regular interest rate can be painful.
  • Home equity line of credit. If you own a home and have built up enough equity, this will be one of your cheapest options. A word of warning, though – you’ll be using your home as collateral, so if you don’t make your payments, you could lose it.

Reduce your monthly expenses

Squid Game Crane Game


Many of the Squid Game’s competitors, including Gi-hun, Sang-woo, and Deok-su, found themselves on the remote island spending more money than they had.

Before you try to steal from family members and business associates, learn about some of these strategies for lowering your monthly expenses.

If you haven’t looked for better rates on your auto insurance in a while, you could be overpaying hundreds of dollars every year.

Homeowners can save hundreds of dollars a month by refinancing their mortgage at one of today’s lowest interest rates.

Boost your income

Squid game coffin



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Not all Squid game the candidate got into debt because of his own mistakes.

North Korean defector Sae-byeok needed a huge sum of money to get his mother to safety, and factory worker Ali Abdul was not making a dime from his corrupt employer.

Even if you don’t have a lot of money to spare, you can still take advantage of the boom in the stock market by using an app to invest your “coin” from daily purchases, turning pennies into a wallet. diversified.

This article was created by Wise Publishing. Wise is dedicated to providing information that helps readers navigate the complex landscape of personal finance. Wise only associates with brands that he trusts and that he believes can be of use to the reader. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.



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