On JK Rowling's birthday, here's 5 financial takeaways from Harry Potter series

As the first female billionaire novelist, JK Rowling has created a brand that is estimated to be worth around USD 15 million.

Years after the last book was released, the famous novelist still makes USD 14 million per year through her website, Pottermore, and other books.

While the series has captured the imagination of millions of children, there are also several financial tips that can be learned from Harry Potter and his friends. Here are five major financial lessons from her books that can benefit us all:

1) Savings are everything

In the first book, Sorcerer’s Stone, when Hagrid takes Harry shopping, he finds out while at Gringotts (a wizard bank) that his parents have left him quite a lot of cash. Had it not been for that money, he would have found it difficult to survive.

2) Entrepreneurship is game!

Ron’s brothers – Fred and George – were always buzzing with new ideas to trouble Ron, but they also had a small business where they sold toys based on tricks and practical jokes. The Weasleys’ Wizard Wheezes helped them get through school and support their family.

3) Find the right investors:

As the Weasley twins left Hogwarts to expand their business during their sixth year, they were able to set up their business in a prime location – Diagon Alley - thanks to all the money Harry earned during the Triwizard Tournament. Not only did Harry believe in their vision, but he was 'family'.

4) Expand your investments:

Sadly this lesson comes from He-who-must-not-be-named. When the dark lord in search for immortality, he did everything he could to protect his soul - even dividing it into parts to save it. The Horcruxes were kept under heavy protection and had powerful magical traps. In the muggle world, this translates into ‘Don’t put all your eggs in one basket’. This doesn’t put you at risk to lose everything at once. Manage and diversifying assets can help you compensate in case of a loss.

5) Money can’t buy happiness:

We all can agree that the happiest family in the series were the Weasleys. Sure, they lived on meagre income, but Harry was always happy to be in their company.

The Malfoys, with their great contacts and ample cash, were still a broken family, which is apparent from the conflict the anti-hero Draco goes through. The coldness portrayed by the Malfoys also hints at this.