8 Lessons from Netflix's "Hometown Cha-Cha-Cha"

Hey Seedly Community, I’m an avid fan of K-dramas and I thought that this would be a fun way to kick start my first Seedly Opinion article!

“Hometown Cha-Cha-Cha” ended on a high note last weekend with its highest rating on the entire run. I’ve picked up some valuable food-for-thought and I hope to share my learnings!

Synopsis:

“Hometown Cha-Cha-Cha” tells the story of Yoon Hye Jin, a dentist from Seoul who moved to a seaside village Gongjin. There, she meets Hong Du Shik, Gongjin’s jack-of-all-trades and golden boy. The series shows how Hye Jin, the cool-as-ice city girl, navigates through this drastic transition. It also gives us a glimpse of the very relatable struggles in life (eg. family, relationships) through the ordinary people of Gongjin. Surprise surprise, the main leads end up falling for one another but amidst their blooming romance, Du Shik’s troubled past resurfaces. It turns out that Du Shik had graduated from the prestiged SNU and was working as one of the top fund managers in Seoul. However one day he returns back to Gongjin, appearing to be seeking a deeper purpose in life.

8 Lessons/Food-for-Thought from "Hometown Cha-Cha-Cha":

1) Are your goals truly yours or shaped by society?

Source: Google

I find it interesting how strikingly different Hye Jin and Du Shik are though both came from equally prestiged educational backgrounds. Hye Jin represents the typical idealist - Logical, objective, a detail-oriented perfectionist who loves spending on material possessions. Du Shik on the other hand, is happy-go-lucky and does odd jobs at a minimum wage, which according to Hye Jin is putting his prestigious degree “to waste”.

Source: IG (@doseofkdrama)

Initially, Hye Jin struggles with adjusting to the simple life in Gongjin. All of a sudden, she no longer had the convenience of working ATMs, department stores and food delivery services. What was more difficult for her to grasp was how simplistic and unambitious the people of Gongjin were who did not bat an eye for the status quo. As the series progressed, Hye Jin gets accustomed to the norm in Gongjin and falls in love with the quirks of this small town.

Hye Jin’s developement was interesting as it reminded me of how we are at the mercy of the standards of the society that we are directly a part of. _For Hye Jin, it took a change in environment for her to realise that genuine human relationships was what truly mattered to her. _Later, this led her to turn down a one-in-a-lifetime clinical professor job opportunity back in Seoul.

Are our financial goals truly ours to claim or shaped by what our society expects of us to achieve? For example, the goal to “Save 100k by 30” has been increasingly popularised, a feat that blew up because of TheWokeSalaryman. It seems like that’s the gold standard that Singaporeans are striving towards, but is that really what you are aiming for? Is that also a milestone that’s realistic and reachable for you?

Before getting started, it is important to set clear and precise financial goals or you’ll just be mindlessly following the crowd. Knowing exactly what you are working towards will help you to stay on track and not get swayed by what others are doing.

2) Embrace change and mistakes in your investment journey

Source: IG (@doseofkdrama)

“If you fail to plan, you plan to fail.” But what if you did your due diligence, but still made a mistake? The truth is - mistakes are part and parcel of every investor’s investment journey.

While I say to embrace them, I’m not encouraging a “bochap” or indifferent attitude. Mistakes are inevitable, but what matters is how we move on from there. Instead of dwelling over spilt milk, treat mistakes as a learning opportunity. Though nobody can predict the market, we can still take steps to protect ourselves such as managing our risk tolerance, diversifying (but not diworsifying) and building a strong thesis.

3) Life isn’t fair

Have you ever thought to yourself, “If only I was born into a rich family, I would have it easier”? Network, financial security, family affluence etc will definitely give one a stepping stone ahead of his/her peers. While we can't control such circumstances, we can, however, control our mindset. Besides, it's about how you utilise your cards.

The series reminds us that while life isn’t fair, it's perhaps fair at being unfair for everyone.

Everyone’s silently fighting their own struggles in life. The grass always seems greener on the other side, but we shouldn’t be too quick to downplay others’ struggles just from what we see on the outside. Instead of wasting time being salty, we’re better off working diligently with what we already have.

4) Know what you’re buying into

Du Shik opens up about his past as a fund manager where he was close to a security guard at YK Asset Management. The security guard was adamant to subscribe to Du Shik’s fund despite his dissuasuion. Shortly after, there was a market crash and it turns out the security guard had blindly bought into a fund that an employee had recommended.

We’re fortunate to be in an era where there are plenty of free and readily accessible resources on investing. On the flip side, the accessibility to resources can also generate lots of noise when we see things like “__ the growth stock that’s going to 10x” or “Top undervalued stocks to buy now” at every corner.

Behind every stock is a company and stock prices are not going to tell us anything about a business. Instead of staring at the price charts or succumbing to FOMO, what matters is that we build our own conviction and thesis around what we are invested in. This comes from our thorough understanding of a business’ fundamentals and financial positions, and is what will tide us through the inevitable up and downs.

5) Don’t succumb to emotions during a market crash

Humans are emotional creatures and it can be tempting to paper hands when we see a sea of red in a bid to “cut losses”, which unfortunately, was what the security guard had done. As long term investors, we have to learn how to set aside our emotions when investing, which can only be achieved if we are convicted of our reasons for buying the stock. If our initial thesis has not altered, short-term market fluctuations and corrections should not cause us to waver.

6) Invest only what you don’t need in the near future

To make matters worse, it turns out that the security guard had taken out a loan to purchase the fund.

While it sounds exciting to kickstart your investment journey, it is important to only invest what you don’t need in the foreseeable future. You should also have an emergency fund in place (together with insurance) to protect yourself from potential downsides. Most people would recommend setting aside ~6 months of expenses.

As for where to park it, you can consider high interest savings accounts/ Insurance Savings Account/ Cash Management Accounts. For emergency funds, you’ll want to prioritise a place with high liquidity that’s safe and secure.

Best Savings Accounts in Singapore (2021) - High interest Savings Accounts for Working Adults: https://blog.seedly.sg/best-savings-accounts-singapore

Ultimate Cash Management Accounts Comparison (Sep 2021): https://blog.seedly.sg/cash-management-accounts-singapore

Ultimate Insurance Savings Plans Comparison: https://blog.seedly.sg/insurance-savings-plan-singapore

7) Don’t neglect relationships in the pursuit of your financial goals

In a state of despair, the security guard attempted to take away his life. Seeing how Du Shik was not in the right state to drive to the hospital, Jeong-u offered to take the steering wheel instead. Unfortunately, they got into an accident and Du Shik lost Jeong-u (his best friend) in that instant. Plunged with guilt, Du Shik was at the brink of committing suicide when he received a text from Ms. Gam-Ri, one of the halmeonis from Gongjin.

“My life was so busy that I had forgotten about her. Actually, I had forgotten about her. But that text message with countless typos saved me.”

In a bid to achieve our financial goals, it can be hard to pinpoint how much is too much sacrifice. This can be that of relationships, health, or simply, living in the moment.

Are you guilty of turning down your social gatherings in a bid to save more? Are you guilty of neglecting your physical/mental health? Though making sacrifices is important, it is equally important to enjoy the process and live in the moment. Ultimately, it is about striking a balance.

We all have different priorities and goals, and we have to decipher for ourselves what we are willing to give and take or the hustle culture can easily get the better of us. Financial independence will come with a price. But what that price will be is for you to count the opportunity cost and draw the line.

8) Our financial goals are not the be all and end all

During halmeoni Gam-ri’s sleepover with her friends, she expressed her contentment in life not because of anything complex, but because of the beautiful moments in her ordinary life.

Source: IG (@doseofkdrama)

This bittersweet ending to her character was a subtle yet powerful reminder that our financial goals are not all there is to life.

We can’t deny that money is essential. No doubt, we’ll naturally be in a constant state of worry if we can’t pay for our bills, let alone have the financial/emotional capacity to seek satisfaction from our personal interests.

But it’s important to remember that achieving your financial goals does not equate to securing a happy life. A 2020 study conducted in the US found that experiences make people happier because they enhance social relationships, which are a bigger part of one’s identity. Money is an instrument to increase the potential for life satisfaction, but it does not directly equate to securing happiness. Working towards your financial goals is important, but it’s also important to take in the experiences of the present and look beyond the monetary gains for joy.

“Look around yourself closely and you’ll realise that you’re surrounded by many precious things.”

Closing remarks...

Those were my takeaways from Netflix’s “Hometown Cha-Cha-Cha”... I went into this for pure entertainment purposes, but this unassuming drama definitely left me with some valuable insights to ponder about. I hope you enjoyed this light hearted read!