Advertising
Advertising

10 Important Money Lessons These Hollywood Blockbusters Teach You

10 Important Money Lessons These Hollywood Blockbusters Teach You

Movies aren’t just fun distractions. The good ones can pass on wonderful wisdom about our own lives. The great ones can change the way we exist from day to day, including the way we spend our cash.

Here are 10 major Hollywood movies and the money lessons they’ve taught us about good old greenbacks. Spoiler alerts and wonderful wisdom ahead!

1. The Money Pit

The-money-pit

    What’s more surprising than the fact that this 1986 movie starring Tom Hanks and Shelley Long is nearly 30 years old, is the fact that Steven Spielberg produced the box office smash. The main characters become the victims of scammers who con them into buying a house that starts to fall apart the second they move in. Due to the large and increasing amounts of money it takes to repair the home, the residence is dubbed a “money pit”.

    Lesson learned: Don’t fall for slick stories from desperate home sellers, and make sure to estimate your real remodeling expenses prior to signing any contracts or getting any work done on your McMansion. Like a quote from the movie states, “Just because they showed up to collect the money is no guarantee that they’ll show up to do the work.”

    2. The Wolf of Wall Street

    leo-money

      If there is one thing I learned from experiencing the thrilling body of work that is The Wolf of Wall Street is that men like stuff. Fancy stuff. The kind of Ferrari 458 Speciale cars and “ocean kitchen” fish tanks that they lust over on Fatal Dose. In this 2013 film based on the true story of Jordan Belfort, a man who parlays his selling skills into a new wife and wild life as a wealthy stockbroker, we learn that women like stuff, too. However, coveting all that cash doesn’t pan out as planned.

      “You show me a pay stub, I’ll quit my job right now,” Donnie Azoff tells Jordan, proving all that glitters isn’t gold when you don’t truly investigate the source of the riches–and whether or not it lines up with sleeping well at night.

      Lesson learned: Lying to achieve lots of money and buying copious amounts of drugs with our riches isn’t the way to go. Gaining funds by any means necessary is what led Jordan straight to prison and divorce court.

      3. Bridesmaids

      Advertising

      bridesmaids

        The 2011 comedy starring Kristen Wiig was hilarious, and also quite unique in the way that it showed how income levels can bond or break apart friends. As the film opens, (after that kooky scene with Jon Hamms’ lusty Lothario persona) main character Annie hangs out with her best friend Lillian–played by Maya Rudolph–and they share in the camaraderie of being broke by getting kicked out of their bootcamp class.

        When Lillian’s impending wedding brings a wealthy woman named Helen into her life, who attempts to buy her friendship away from Annie, the true test of how people might react to “friends with financial benefits” comes to light.

        “Help me, I’m poor,” Annie admits during a memorable scene on the plane.

        Lessons learned: The monetary morals uncovered in Bridesmaids are threefold: Don’t let folks buy your love; don’t go crazy trying to purchase expensive decorations you can’t afford when cute, affordable wedding fare sits at our fingertips; and never let a disparity in salaries cause you to drop your bestie. After all, Oprah and Gayle figured it out.

        4. Casino

        casino

          The work of brilliance that is Casino, a feature film directed by Martin Scorsese, puts forth a plethora of gems about money–not the least of which being that you should never marry for wealth, only for love.

          The 1995 movie was based on the non-fiction book by Nicholas Pileggi, whose Sam “Ace” Rothstein counterpart was played by Robert DeNiro. When Ace proposes marriage to a Las Vegas hustler, Ginger McKenna (Sharon Stone), she honestly confesses that she’s not the marrying kind.

          “You’ve got the wrong girl, Sam.” Ginger’s intended should have listened. Instead of accepting the truth that she just doesn’t love him, Sam urges her to “learn to love,” and promises to take care of her monetarily.

          Lesson learned: That fiasco of a marriage-for-the-money taught us that the heart may want what the heart wants, but nuptials shouldn’t become business deals.

          Advertising

          5. The Great Gatsby

          gatsby

            When I used to read reviews about the classic 1925 novel by F. Scott Fitzgerald, The Great Gatsby, I didn’t understand all the hoopla. It wasn’t until I soaked up the 2013 movie of the same name starring Leonardo DiCaprio and Tobey Maguire that I truly began to realize the exquisite nature of the storyline.

            Once again, here was a millionaire–Jay Gatsby–at the center of the Roaring Twenties, a time of revelry before the stock market crash of 1929.

            “The truth is I’m penniless,” Gatsby had previously confessed to Daisy via letter, and her rejection of him made the main character vow to win both massive amounts of wealth and the woman he loved.

            Lessons learned: In addition to teachings about Gatsby not being able to pay for the affections of the woman named Daisy that he loved and lost twice in his life, we also realize that when times are good, it’s best to save for a rainy economy. Plus, that all-important line about having plenty of friends when you’re rich is also apropos.

            6. Sunset Boulevard

              In the classic Sunset Boulevard, on-screen Hollywood writer, Joe Gillis, is a starving artist down to his last nickels–literally–when he meets the older and wealthier Norma Desmond.

              “Waiting, waiting for the gravy train” is how Joe describes his status with all the other writers hanging out at Schwab’s Drug Store looking for their big breaks.

              After Norma dangles herself, plus her dilapidating mansion and career, in front of his face, Joe takes the bait. However, he shouldn’t have fallen for the trap because it would end up being the same place of his death. When he tries to leave to spend his life with the woman he really loves, Norma shoots him dead.

              Advertising

              Lesson learned: If you sell your soul to hang out with someone you normally wouldn’t befriend just because they have money, be prepared for them to exert unnatural (and perhaps nefarious) control over your life.

              7. The Passion of the Christ

              passion-of-the-Christ

                In The Passion of the Christ, Judas Iscariot receives 30 pieces of silver in order to tell enemies the whereabouts of Jesus, but he didn’t realize that blood money was the worst kind of money around. When Judas tried to give it back, the church leaders wouldn’t take it because, ironically, they reasoned that they couldn’t have blood money in their coffers.

                I have sinned, betrayed innocent blood,” the one doomed to destruction realized, but it was too late.

                Lesson learned: A life is worth much more than money.

                8. It Could Happen to You

                It Could Happen to You

                  The romantic 1994 dramady, It Could Happen to You, featured Nicolas Cage as Charlie Lang and Bridget Fonda as Yvonne Biasai–a cop and waitress, respectively–who end up falling in love after winning a lottery jackpot together.

                  The complications arise when Charlie’s wife Muriel (played with annoying brilliance by Rosie Perez) goes crazy spending the bulk of the funds as Charlie and Yvonne have fun doling it out through more altruistic means.

                  Lessons learned: Money doesn’t make you. Getting lots of money only magnifies who you already are inside. Money amplified Charlie and Yvonne’s giving spirits while it also brought out the ugliness of greed in Muriel’s philosophy.

                  Advertising

                  9. Moneyball

                  moneyball

                    The 2011 film Moneyball, starring Brad Pitt as the Oakland A’s general manager Billy Beane, reminds us that gaining income can be a matter of changing the way we think after he uses scant resources and a computer-based algorithm to put together a successful team.

                    Lesson learned: Money is mental. Billy shows us that thinking differently about baseball statistics, or any aspect of our lives, can truly bring wealth and riches because our paradigm isn’t like others. It works because he approached the game along with his business partner in a manner that no one was accomplishing at that time.

                    10. 12 Years a Slave

                    12-years-a-slave

                      The greed of the slave masters as displayed in12 Years a Slave, the 2013 film based on the real-life 1853 book of the same name, is what stands out as the biggest monetary lesson learned therein. In the shadows of the Capital Building, free man Solomon Northrup is kept in a slave pen until he is transported south near New Orleans, where he suffers unspeakable horrors along with the other slaves, all because the slave masters want to enjoy the income that their fieldhands and servants provide through hours and hours of hard labor. In the end there is proof that taking advantage of others for your own material gain does not pay.

                      Lesson learned: Greed is bad. Very bad.

                      Featured photo credit: 12 Years a Slave 02/newstatesman.com via newstatesman.com

                      More by this author

                      Beauty Hacks: 25 Smooth Shaving Tips for Women 25 Mind-Blowingly Informative Websites That Will Expand Your Worldview 30 Interesting And Scam Free Ways To Make Money Online The 20 Best Work-From-Home Jobs You Should Consider Taking Daughter: You’re Almost 12 – Here’s What Kids Should Know By Adulthood

                      Trending in Money

                      1 How To Pay Off Credit Card Debt Fast: 7 Powerful Tips 2 How To Make a Million Dollars in 7 Steps 3 7 Cheap but Powerful Products That Can Help Your Waste Less Food and Save Money 4 How To Retire Early (And What To Consider Before You Do) 5 How To Create a Budget (The Complete Beginners’ Guide)

                      Read Next

                      Advertising
                      Advertising
                      Advertising

                      Published on January 8, 2021

                      How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

                      How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

                      Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

                      The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

                      Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

                      What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

                      Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

                      1. Pay More Than the Minimum Credit Card Payments

                      Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

                      Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

                      Advertising

                      You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

                      The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

                      2. Start With High-Interest Credit Card Debt

                      If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

                      First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

                      At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

                      3. Revisit Your Budget

                      Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

                      You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

                      Advertising

                      Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

                      If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

                      4. Avoid Using Your Credit Cards

                      Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

                      The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

                      It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

                      5. Start a Side Hustle to Boost Your Income

                      You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

                      If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

                      Advertising

                      Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

                      It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

                      6. Sell Your Used Items for Extra Cash

                      Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

                      A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

                      Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

                      When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

                      7. Know When to Seek Help With Your Debt

                      Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

                      Advertising

                      There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

                      In extreme cases, the debt solution can be:

                      • Debt relief – where your debt is partially or wholly forgiven
                      • Debt consolidation – taking out one loan to repay others
                      • Debt settlement – the creditor forgives a significant portion of your debt
                      • Bankruptcy – legal process for seeking relief from some or all your debts

                      It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

                      Wrapping It Up

                      Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

                      So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

                      More Tips on How to Pay Off Debt

                      Featured photo credit: rupixen.com via unsplash.com

                      Reference

                      Read Next