5 Financial Lessons You Can Learn from Lady Gaga

Lady Gaga lit up the National Stadium last night with a spectacular, sold-out performance. It was the first of four nights in Singapore and her only stop in Asia for the Mayhem tour. The two-hour spectacle featured dynamic choreography, dramatic set pieces, and multiple costume changes.

What’s more? During her 2010 hit Alejandro, she draped the Singapore flag over a balcony on stage, drawing roaring applause. Beyond the wigs and theatrics, there’s a method to the madness. On that note, here are five key lessons from Mother Monster’s playbook.

#1: SAY NO & MEAN IT

In a speech at Yale, Lady Gaga shared how one simple word helped her reclaim her life. She had reached a point where she no longer recognized herself. Saying “no” gave her back control over her time, energy, and purpose.

Financially, the same principle applies. Saying no to unnecessary spending, to lifestyle pressure, or to things that don’t align with your goals, is a powerful tool. Just because you can afford something doesn’t mean you should say yes to it.

#2: BREAK FROM THE NORM

Gaga doesn’t follow trends. She sets them. As Gaga sings in Born This Way, “Don’t hide yourself in regret, just love yourself and you’re set.” Even in the way she dances, she moves to beats others avoid. Her unconventional choices make her unforgettable.

That mindset also works for money. It’s easy to follow the crowd, whether it’s buying the latest tech, chasing social media-fueled investments, or sticking to a career path that doesn’t truly suit you. But real success comes from doing what fits your own values and vision.

#3: THINK LONG-TERM

Lady Gaga’s stardom wasn’t built on one viral moment. Her success is the result of years of strategy, hard work, and consistent reinvention. It’s the same when it comes to your finances.

Image Credits: unsplash.com

Short-term thinking often leads to mistakes such as overspending, panic-selling, or taking on bad debt. But those who plan ahead, invest steadily, and take a long view of their goals tend to build lasting wealth.

#4: LOOK BEYOND YOURSELF

Behind every Gaga performance is a massive team: stylists, dancers, musicians, designers, and technicians. She openly credits her success to the people who support her, on and off stage.

Good financial decisions also rely on collective thinking. Whether you’re running a business or managing your own portfolio, long-term success means considering the needs of your community, employees, partners, and the environment. Companies and individuals who think sustainably often perform better over time.

“I wanna hold ’em like they do in Texas, please,” she quips in Poker Face, but the message is deeper: know who you’re dealing with, and value every card you hold.

#5: DON’T DO IT ALONE

Even a global superstar like Lady Gaga doesn’t do it all herself. Her massive live shows depend on an army of behind-the-scenes professionals. Her creative process is powered by collaboration.

The same is true with money. You may be the lead in your financial story, but you need a team such as trusted friends, mentors or a supportive partner. Trying to handle everything solo can lead to burnout or costly mistakes.

Image Credits: unsplash.com

Knowing when to ask for help is not weakness. It’s wisdom.

Sources: 1,2,3, & 4

Read More...

4 Times Your Parents Were Right About Money

Like most parents, mine were fond of imparting nuggets of wisdom to us. Whether we like it or not, we have to listen to the Hallmark-worthy quotes for every occasion. Be honest! How many times did you roll your eyes on your mother or father as they scold you in front of your friends?

Well, it turns out that some of their financial lessons are beneficial. You can either learn from their successful stories or their wrongful moves. With that said, here are “4 Times Your Parents Were Right About Money”:

DO NOT PUT ALL YOUR EGGS IN ONE BASKET

This statement does not refer to organizing your grocery items. Instead, it refers to the piece of advice that argue against putting your resources in one object or individual. My parents were right when they told me to embrace all the job opportunities while I am still young.

The technical term for this act is diversification. Not diversifying has its drawbacks. Diversification, according to Nobel Prize winner in economics Harry Markowitz, lowers the risk of loss and increases the chances for success when investing. You may apply diversification in other aspects of your life.

For instance, avoid pouring yourself to the workplace as you may neglect your physical health and emotional sanity. In friendships, you must devote your time to several people to create a personal support system or a business network.

MONEY DOES NOT GROW ON TREES

“Money does not grow on trees!”, exclaimed my father. I cannot recall how many times these happened to me as a child (who just wants to collect Barbie dolls). Oh! Hearing these words translated to our mother tongue had a stronger impact. I am sure that some of you had the same experience. As you read these words, your parents’ voices may echo in your head. You are not alone.

The idea of quick and easy cash may appeal to most of us during our childhood, but the real world does not work like that. Earning money takes determination, time, and effort. This is why you must not waste your money on things that you do not need. Teach the value of money to new generations as well.

Furthermore, it is practical to establish your own emergency fund should an unexpected event arise. Consider this Clever Ways To Build A Sufficient Emergency Fund article as a guide.

SPEND WITHIN OR LESS THAN YOUR MEANS

Spending within or less than the bounds of what you can afford can contribute to a stress-free life. I know this lesson sounds utterly obvious. However, some people do not understand the principles of cash flow. A number of Singaporeans are not afraid to whip out their credit cards to buy items that they cannot afford at the moment.

My cousin’s parents understand the prowess of a credit card. So, they did not allow their child to get one. You see, they believed that it is not a good idea to purchase something when you do not have enough cash in the bank to afford it. My cousin has to keep saving money until he could afford the thing that he desires.

You may argue that you cannot shop online without a credit card, but you can use a MasterCard or a Visa debit card. Spending wisely is a good practice to impart to your future children.

PATIENCE IS A VIRTUE

My mother is patience personified! Her actions taught that overcoming instant gratification is important to financial success. Impatience costs people cold hard cash.

If you are willing to wait instead of purchasing immediately, you are able to compare prices within other shops and to find cheaper options. Practicing patience gives you the opportunity to wait for the greatest sales, huge markdowns, and bargain deals that will help you save a lot.

Image Credits: pixabay.com

Image Credits: pixabay.com

There are many ways to improve this virtue. You may employ breathing techniques or visualize how long you will wait while in a queue.

Sources: 1 &2

Read More...