Financial Lessons to Learn from Your Favorite Holiday Movies

Some of our favorite holiday films that make us laugh, cry and provide us with the joy of Christmas spirit can also be a guide to managing your money. Here, we take a look at a few movies and what financial lessons we can learn.

Home Alone (1990)

Lesson Learned: Benefits of having complete home insurance.

If “Home Alone” were filmed in the connected world we live in today, Kevin McCallister would simply need to text his mom that he was home by himself, and she would be able to get off that plane and come home to him sooner. The end.

Clearly that doesn’t make an exciting storyline. Watching an 8-year-old spoil two dim-witted robbers’ plans is highly enjoyable. But thinking of all the damage the “Wet Bandits” caused in not only the McCallister household – partly due to Kevin’s defense plan – but also in the surrounding homes they were able to vandalize, should make you think about your own home insurance coverage and security systems, as break-ins do happen. According to the Bureau of Justice Statistics, summer is the peak season for burglaries, however, the holidays are an exception due to families traveling out-of-town. Check with your insurance agent to review your policy and make sure you have adequate amount of coverage. 

National Lampoon’s Christmas Vacation (1989)

Lesson Learned: Don’t spend your paycheck before it’s in your bank account. 

A “good old-fashioned family Christmas” is Clark Griswold’s hope for the holiday gathering, but as it is a National Lampoon’s feature, you know things are going to go hilariously awry. Throughout the film, Clark endures many gaffes, like accidentally being locked in the attic, welcoming uninvited guests into his home – including the squirrel and Cousin Eddy, carving of the turkey and the famous Christmas lighting faux pas, but one of Clark’s many blunders should make us cringe.

Clark is so determined on surprising his family with a swimming pool for Christmas, that he writes a check for a deposit in hopes that his Christmas bonus will arrive soon. It’s only afterwards that Clark finds out his bonus is a year subscription to the “Jelly of the Month Club” – or in Cousin Eddy’s words, “The gift that keeps on giving” – not the extra pay he was anticipating. He now doesn’t have the funds in his bank to cover the pool deposit. Of course, it all works out in the end, but this holiday season, don’t spend more than what you can afford. 

A Christmas Carol (multiple versions)

Lesson Learned: It’s never too late to change your money habits – and lease on life.

Charles Dickens’ “A Christmas Carol” has been adapted for the big screen numerous times, but the story of a heartless businessman, usually in the character of Ebenezer Scrooge, who finds redemption by the end, remains the same. Ebenezer’s transformation from a penny-pinching grouch who refuses to help the poor – “Bah-humbug” – to a kind giving soul who embraces holiday joy with opened arms, begins after he’s been visited by the spirits of Christmas past, present and future. By the end of his journey, Scrooge realizes that his greed and obsession with money consumed him so much that he lost everything important to him. 

The Santa Clause (1994)

Lesson Learned: Always read the fine print.

“Ho, ho, ho,” said in Tim Allen’s raspy growl. The “Santa Clause” has been a family favorite film since it debuted in the early 90s and has spawned several sequels throughout the years. This movie offers you a behind-the-scenes look at how the Santa business works. Should anything happen to Santa, the next person to don the red suit becomes the next Santa Claus. Had Scott Calvin (Tim Allen) taken the time to read this fine print on Santa’s business card before putting on the Santa suit, he may not have become the jolly Saint Nick that we all adore. 

Dr. Seuss’ How the Grinch Stole Christmas (2000)

Lesson Learned: Happiness isn’t measured by excessive consumption. 

The title would suggest that the horrible (but lovable) Grinch is successful at stealing Christmas. And he is – sort of. After he steals all the Who’s presents, bows, garland, trees, lights, anything Christmas – including the roast beast – the Grinch realizes that Christmas spirit isn’t a physical item that you possess. He ponders, “Maybe Christmas (he thought) doesn’t come from a store. Maybe Christmas perhaps means a little bit more.”

It's a Wonderful Life (1946)

Lesson Learned: Money isn’t everything. 

“It’s a Wonderful Life” is an American holiday classic that tugs at the heartstrings. The movie follows protagonist George Bailey, played by Jimmy Stewart, a man whose good deeds have helped the town of Bedford Falls, but he fails to see his worth. He’s encountered a stroke of bad luck when his business is on the verge of collapse, and he’s in danger of going to jail for bank fraud after an $8,000 loan is misplaced. When George is unable to deal with his problems any longer, he’s visited by his guardian angel, Clarence, who shows George what the town would look like if he didn’t exist. 

At the end of the film, George realizes that even with his financial woes, his family and his life are worth more than money. It’s a happy ending when George’s family, friends and the town come to his aid by donating money to help save his business before authorities have the chance to arrest him.

As you snuggle in to watch a Christmas movie this year, think about the lessons you can learn from the characters’ financial faux pas. We hope you have the “hap-hap-happiest Christmas” ever.