‘Friends’ star Matthew Perry passes away: Five money lessons to learn from Chandler Bing

 

“I’m not great at giving advice. Can I interest you in a sarcastic comment?" Despite him saying this, Chandler of Friends offers money lessons as unforgettable as him. Rest In Peace, Matthew Perry!

In a shocking turn of events in 2023, the world mourned the loss of a beloved actor, Matthew Perry, best known for his iconic portrayal of Chandler Bing on the hit TV show "Friends." His passing left a void in the hearts of millions, but as we remember him and his character, we can also glean valuable money lessons from Chandler Bing's on-screen persona. In this blog post, we'll explore five financial insights inspired by Chandler Bing.

1. "Could I BE any more financially responsible?"

Chandler Bing was notorious for his sarcastic sense of humor, but he also exhibited some valuable financial traits throughout the series. Just like his character, who was always looking for the next opportunity to improve his career, you should constantly seek ways to enhance your financial situation. Chandler's job changes and promotions serve as a reminder that it's essential to keep evolving professionally to increase your income.

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To adopt this money lesson from Chandler Bing, regularly assess your career, consider additional education or training, and explore opportunities for advancement. Invest in yourself to secure a brighter financial future.

2. "The importance of a savings account, or in Chandler's words, a 'Could I BE any more prepared for the future' fund?"

One of the recurring themes in Chandler's character was his overly cautious nature, which manifested in his constant anxiety about the future. This anxiousness can be mirrored in our own financial lives, but with a positive twist. Chandler's obsession with saving for the future is a valuable lesson – an emergency fund is essential for financial security. Life can throw unexpected curveballs, and having a financial cushion in the form of savings can help you weather the storm.

Emulate Chandler Bing by setting up an emergency fund and regularly contributing to it. Financial advisors often recommend having three to six months' worth of living expenses saved up. You'll be better prepared for life's uncertainties with your own "Could I BE any more prepared for the future" fund.

3. "Don't 'pivot' your investments too frequently."

Chandler's infamous attempt to help his friends move a heavy sofa led to one of the show's most memorable scenes: "Pivot! Pivot!" While it was all in good fun, this moment teaches us an important lesson about investments. Just as trying to pivot a heavy sofa can be counterproductive, frequently changing your investment strategy can also lead to financial instability.

When it comes to investments, consistency and patience are key. Instead of constantly pivoting, create a diversified investment portfolio and let it grow over time. Long-term investing, just like Chandler's attempt to move the sofa, can yield better results with less stress.

4. "Stay committed to your financial goals, just like Chandler was committed to Monica."

Chandler Bing's journey from commitment-phobe to married man shows the power of sticking to your goals. In the realm of personal finance, setting and sticking to financial goals is crucial for long-term success. Whether it's saving for a down payment on a house, paying off debt, or investing for retirement, unwavering commitment is the key to success.

Channel your inner Chandler by setting clear financial goals and creating a plan to achieve them. With dedication and perseverance, you can achieve your financial dreams, just as Chandler won Monica's heart.

5. "Could I BE any more budget-conscious?"

Chandler Bing was known for his witty one-liners, but his financial responsibility was no joke. He was the budget-conscious member of the "Friends" group, and his frugal habits offer another essential money lesson. Creating and sticking to a budget is the foundation of a healthy financial life.

To emulate Chandler Bing's budget-consciousness, establish a monthly budget that outlines your income and expenses. Track your spending, identify areas where you can cut costs, and allocate money towards savings and investments. A well-maintained budget can help you achieve financial stability and build wealth.

In conclusion, the passing of "Friends" star Matthew Perry in 2023 left us with a deep sense of loss. However, we can pay tribute to him and his iconic character, Chandler Bing, by embracing the valuable money lessons he leaves behind. From continuously improving your career to building an emergency fund, maintaining a stable investment strategy, staying committed to financial goals, and being budget-conscious, Chandler's financial wisdom can guide us towards a brighter financial future.

As we remember the laughter and wit that Matthew Perry brought to our lives, let us also remember the enduring financial wisdom we can gain from the character he immortalized – Chandler Bing. In this way, we can honour his memory by applying these financial lessons in our own lives and achieving greater financial stability and security.

The news of Matthew Perry’s death has saddened millions of fans across the world. But he has left a lasting legacy and a permanent place in our collective hearts as Chandler Bing, the sharp, sarcastic, self-deprecating hero of ‘Friends’ sitcom that ran on NBC from 1994 to 2004. The show is currently on Netflix in India.

Perry made his debut as a 25-year-old who has grown up defending himself from his selfish parents, falls in love with his neighbour Monica and marries her. The show even shows Bing as a dad.

He pays for his flatmate Joey Tribbiani who needs acting lessons and never has money for rent. There are many websites dedicated to figuring out how much money Joey actually owed Chandler. This is our first money lesson

Lesson One: Lending money means never getting it back

Joey is not the only one who is always without any money. Ross Geller - an intrinsic part of ‘Friends’ borrows things too.

Ross Geller: “Can I borrow your blue tie? Emma spit on mine."

Chandler Bing: “Okay, but you’ll have to give it back when I get a job. Of course, by then, ties will be obsolete and we’ll all be wearing silver jumpsuits."

If you can afford it, then by all means lend money to family and friends. But be like Chandler then. Know that the money is never going to come back to you. According to the net, Joey owed Chandler $115,000 over the years.

Lesson Two: Chandler is ‘frugal man’ who saves, saves, saves!

Among the friends, only Chandler seems to have his head screwed right on his shoulders. He has a nine to five job. He lives in a decent apartment which has just about decent furnishings. He doesn’t get distracted by ‘nice things’ (even Ross, who seems to have the most boring job in the world does get involved in having a pet monkey). He saves up money in a shoebox when he knows he’s going to have to buy Monica a ring. In fact, the only time we have all seen him spend money is when he pays for his friend’s acting lessons and his rent. As he says, “I can handle this. ‘Handle’ is my middle name. Actually, ‘handle’ is the middle of my first name."

Lesson Three: Chandler can afford risk-taking

Chandler has a corporate job which is so nondescript, they dedicated a thread that runs through the show where people try to figure out what he does and how he manages to save money. So after years of working as a ‘Transponster’, when he realises that he needs to work in a creative field he is able to spend months looking for a job because he has saved up enough money to tide him over. And when he joins an advertising firm as an intern, he doesn’t have to look for a handout to survive in New York.

That’s the money lesson right there. Do things you must without complaining. So when you must follow your passion, you will manage to without having to ask your parents for help.

Lesson Four: Weddings cost money

As far as weddings go, Chandler will tell you, ‘You’ll be carrying their baby and giving them a Sony PlayStation.’

But when it comes to his own wedding, he sees Monica begin to panic because her parents have spent all the money they had kept aside for her wedding on a beach house, he assures her that she won’t have to spend her nest egg because he has saved up. We never really know how much that is, except that Monica exclaims loudly, “ARE YOU KIDDING ME?!" he has saved enough for Monica to afford the dream wedding she always wanted.

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In India too, weddings are expensive and the logic that most people will offer is: “We were invited to their son/daughter’s wedding, so we must invite them." It becomes more of a social obligation than a celebration between two families and their closest friends. More and more couples are choosing to save up for a home, or invest together rather than have a lavish wedding. Do what you think is right with your money. Even though Chandler comments wryly at his own wedding: “I am glad we are having a rehearsal dinner. I rarely practice my meals before I eat.

Lesson Five: Manage money online

As Chandler says, “So it seems like this internet thing is here to stay." You too can take heed and learn to invest online. If you are smart, you will of course need a money manager too who will point to the right instruments to invest in. But if you read about different schemes and plans, you will make smarter decisions.

We will miss you Chandler Bing. And all the wry funny lines you delivered. Each time I am about to ring a doorbell, or even open the door, his quip comes to mind: “I’m funny, right? What do you know? You’re a door. You only like knock-knock jokes."