6 money tips from popular movie romances
The story: Star-crossed lovers Rick and Ilsa reunite in World War II Morocco. This time, she needs Rick’s help — and travel documents to get her husband out of Europe. Rick gets the papers, then demands she put her safety ahead of their love and leave along with her husband.
That ability to stand back and see the big picture would serve Rick well when it comes to money, too.
“It sounds harsh, but it’s best to take the emotions out of money,” says Karen Altfest, CFP, principal adviser and executive vice president of client relations for Altfest Personal Wealth Management in New York.
When you’re most in love is probably when it’s the most important to keep that objectivity, she says. “Unfortunately, financial decisions should be made with a cool eye.”
Can you see Rick getting talked into co-signing loans or credit cards for a girlfriend? No.
At the end of the movie, he may be left on a foggy runway with a broken heart, but the one thing he doesn’t have is a lingering pile of debt.
The takeaway: Keep your eye on the big picture, so you don’t do something you’ll regret “soon and for the rest of your life.”