Are we playing Squid Game with our money and don't know yet?

You probably started watching Squid Game out of curiosity, witnessing a bizarre children's game turned violent. But somewhere between “Red Light, Green Light” and that glass bridge of death, it stopped feeling like fiction.

Because Squid Game wasn’t just a dystopian thriller. It was a mirror, held up to our financial anxieties, our blind spots and our worst habits, evidenced by the growing per capita debt in the country (from Rs 3.9 lakh in March 2023 to Rs 4.8 lakh in March 2025, as per the Reserve Bank of India).

Probably, that’s why it hit home hard and made us uncomfortable for a reason. A single mother struggling to provide, a failed entrepreneur neck-deep in debt, a retiree who lost everything... They weren’t just players in a sadistic game; they were stand-ins for people we know. Or maybe, versions of ourselves.

So, what can we actually learn from a deadly survival game where the price of losing is death? Surprisingly, a lot about greed, debt, risk and real financial freedom.

1. Gi-Hun (Player 456): The hope addict

He’s broke, behind on child support, gambling away his last notes and still spending money on claw machines. His game plan? Hope something will work out.

Lesson: We all know a Gi-Hun. Maybe we are one. Living paycheck to paycheck, waiting for a bonus, a crypto pump or a miracle raise. But without budgeting, insurance or a financial plan, hope is not a strategy. It’s procrastination wrapped in optimism.

2. Cho Sang-Woo (Player 218): The white-collar gambler

Top university grad, investment banker, a pride of a neighbourhood… and a financial fraud. Sang-Woo is drowning in leveraged bets and making even riskier ones to fix it.

Lesson: Even well-educated professionals blow up portfolios chasing high-risk investments, penny stocks or shady real estate flips. But at the end of the day, you can’t hustle your way out of bad math.

Suggested read: Speed limits for investors

3. Oh Il-nam (Player 001): The purpose-less wealth

Spoiler alert: he created the game. But despite all his wealth, he still joins in, just for the thrill.

Lesson: Money can give you options. But without purpose, it’s just numbers. So, define your goals. It helps you invest with a purpose.

4. The crypto pro: Hype isn’t a financial plan

Remember the guy hyping his YouTube channel, MG Coin, where he advised his followers on crypto trading? Flashy suit, fast talk, “100X guaranteed” returns. Spoiler: He was scamming everyone.

Lesson: He is most finfluencer flexing gains, hiding losses and pitching coins no one will remember in six months. If someone’s making money by selling you wealth, not building it themselves, run. And never confuse noise with knowledge.

Suggested read: Exercise caution with "finfluencers"

5. The VIPs: The heartless bystanders

The masked billionaires who bet on players like it’s horse racing. Detached, cruel and oddly familiar.

Lesson: They're the institutions making money off your volatility: agents mis-selling insurance and investment products. You don’t need to rage against them. Just stop playing blind. Read the fine print before making a decision.

6. Player 100: The rich man with bad debt

One of the slicker players, Player 100, had status but was hiding mountains of debt.

Lesson: Don’t let image become your liability. If you’re taking loans to “keep up,” you’re not winning. You are simply playing a dangerous game in disguise.

7. The hopscotch task

One wrong step and you fall. That’s the glass bridge. Some tiles are solid; some shatter. And there’s no second chance.

Lesson: That’s what lifestyle inflation feels like. Each promotion is equal to more spending. Better car, bigger rent, costlier holidays. But without savings or a cushion, one crisis—job loss, illness—and it all collapses. Build your base before you build your lifestyle.

8. The sugar honeycomb task

Remember the game where players had to carve out delicate shapes from a brittle candy without cracking it? Any haste or pressure, the candy would shatter.

Lesson: That’s exactly how wealth works. True financial freedom isn’t built through frantic trading, chasing hot stocks or gambling on F&O. It’s built like a honeycomb — slow, careful and precise. One wrong move, and years of effort can break apart. The smart ones aren’t the fastest, they are the steadiest. They stick to SIPs, avoid noise and trust the process. Wealth isn’t about speed. It’s about not breaking the candy before the finish line.

Suggested read: Derivative delusion

Final takeaway

Squid Game isn’t just dystopian entertainment. It’s a mirror. It reminds us that people don’t just make bad money choices because they’re stupid. They do it out of fear, pride, shame or desperation.

And unless we face our emotional relationship with money—our hopes, insecurities, blind spots—we’re all just players in our own version of the game.

At Value Research, we believe the secret to achieving financial independence is slow and steady. Even if you start small, the key is to stay consistent. Build good habits—monthly SIPs, smart asset allocation, emergency funds—and let time do the compounding.

So, if you want to start your investment journey, it’s best to start with mutual funds. You can head over to Value Research Fund Advisor to get a personalised Portfolio Planner, a list of best funds and an exclusive video series to learn the fundamentals about mutual funds.

Also read: Heard of Smart SIPs? They can time market for higher returns

This article was originally published on July 01, 2025.