Saturday, November 26, 2011

The Best Financial Advice Learned from Movies

This is a guest post. George Gallagher is a writer and blogger.  In his past time he helps graduates find not-for-profit student loan consolidation options.

Sitting down to watch a good movie can prove to be entertaining – but in some cases, certain films can be fairly eye-opening in terms of a good education on money as well. Over the past few years, several big screen events have made movie-goers walk out thinking about finances in different way.

Greed Is Good?

Few movie-goers from the 1980’s aren’t familiar with Gordon Gecko’s famous line, “Greed is good.” Although entertaining, this story line focuses on corporate raiders of several decades ago and on how they profited tremendously at the expense of the rank-and-file employees of their investment targets. It also ends by showing that greed isn’t really all that good after all.

It Pays to Stay Healthy

Michael Moore is the guy that many people love to hate. However, in his film “Sicko” it becomes easy to see that those who think they are doing the right thing in purchasing health insurance can still find themselves in a financial quandary.

“Sicko” exposes just how expensive it can be for those who acquire serious illness or injury, and although it doesn’t really present a solution – other than moving to a country where healthcare is free – it can make watchers think differently about how they coordinate their health and well being in terms of their financial decisions and saving for emergencies.

Taking Advantage of Great Offers

Most of us have received tons of junk mail over the years sent to us by our friends at the credit card companies. After watching “Maxed Out,” however, you won’t be able to get to the trash can fast enough to pitch these “great offers” as soon as you possibly can.

This film examines just exactly how debt – by individuals as well as entire governments – can quickly spiral out of control. If nothing else, this movie could save you thousands of dollars and a great deal of heartache as it relates to borrowing too much money.

Even Smart Savers Can Be Dumbfounded

After watching “Enron: The Smartest Guys in the Room,” viewers can get a better idea of how to invest – as well as how not to invest – their hard earned funds. This movie examines the massive fraud that was perpetrated by the top executives at Enron. Both employees and investors alike lost loads of money after being led to believe that the company – and its financials – were doing fine based on its inflated stock price.

Unfortunately, the only ones who made a profit here were a small group of top brass at the company. This was undertaken, though, primarily at the expense of Enron employees as well as investors in the company – many of which lost their entire retirement savings. Lesson here – don’t put all your investable assets in one basket because the basket could break.

A Primer on Financial Affairs

For those who are new to financial concepts, one of the best educational films that can help get you up to speed is “The Ascent of Money: The Financial History of the World.” This movie offers a great overview with regard to the current financial situation in the United States today as well as at how the country got into this predicament in the first place. This one could require extra popcorn, though, as its running time is at the six hour mark.

1 comment:

  1. This article dealt with every aspects of financial management.

    Thanks for the great article.


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