What can Christmas Movies teach us about Finances?

Today, we'll be discussing what Christmas movies can teach us about family and finance. Hello and welcome to Money Talks. My name is Ken Wink from Summit Financial Consulting. If you'd like more info about what you hear during the show today, give us a call 586-226-2100 or you can visit us online at summitfc.net. While you're at the website, be sure to check out the podcast page. You can check out our past shows and actually subscribe on Apple Podcasts, Spotify, or Amazon Music. So today, I think is what I think is a fun show. We're going to be discussing a few movies and what they can teach us about family and finances around Christmas time. Before we jump into this topic, let me introduce my co-host, Tony Shore. Tony, what's your favorite Christmas movie of all time? Or what's your favorite hybrid Christmas movie, financial planning movie of all time?

Well, my favorite Christmas movie of all time here, I'll just play this.

Christmas vacation.

Leave you for dead. You can't make that up, right, Ken? No, that's just genius writing throughout that movie. Yeah, Christmas Vacation with Chevy Chase, uh, that is, uh, to me the greatest Christmas movie. It's so funny and it's got heart. There's, there's some scenes in there with heart too, um, hope that wasn't too controversial to play that clip on the show. I, I enjoy it. Yeah, you too. That's my favorite Christmas movie. I don't know. It might be a stretch to draw a lot of financial conclusions, but really the crux of the movie is his Christmas bonus. And he spent it before he had it. He put a down payment on the swimming pool and the whole ending centers around him getting that Christmas bonus. And yeah, That's the climax of the movie. So it does have a good financial lesson there that we can all learn from. So I'm throwing that out there. And then, of course, the age-old question we have to pose to our listeners, our viewers, and I'm posing it to you now, Ken, is Die Hard a Christmas movie? Now, I know the answer to this. What? Yeah, of course it is. Yeah. Boom. Correct. Correct. Die Hard is a Christmas movie. Yeah. So that's all I have to say on that topic. I think the number one movie with financial lessons, though, is the old It's a Wonderful Life. Yeah. Um, and, uh, that, because that's about the whole movie is about finances and a run on the bank in this town, uh, back in the forties. Um, right. And I just think that, um, that's a 1946, that movie was made. Can you believe that? Yeah. Yeah, it's it's hanging in there, though. It's still a classic. Yeah. Yeah. And I mean, but if it was if it was, you know, if we were part of it, you know, I'd be George Bailey, obviously the star of the show. And I think you would be Mr. Potter, the evil banker. I'm not sure. No, I'm kidding. I'm teasing. I'm teasing you again. So how about you? We're talking about holiday movies and financial lessons you can learn. And you've put together, I threw just a couple of quick things out there, but you've put together some great lessons from some awesome financial movies, which are also in my top 10. I think every movie you picked is, Um, is in my top 10. Of course, I think one of the movies you picked, I'm going to spoil. One of the movies is of course, a Christmas Carol. You can't talk about financial lessons without a Christmas Carol. Right. Uh, however, uh, the version I like is, um, Scrooged with Bill Murray. Yeah. Yeah. But the classic Christmas Carol is just wonderful. I mean, one of the greatest stories ever told. Right. Yeah. Yeah, absolutely.

Let's you know, let's start there.

Yeah. OK, let's start with the Christmas Carol, because I think everyone basically knows the story of Scrooge and a Christmas Carol, I hope. And if you haven't seen that one in a while, usually if you're anywhere near a major city with a theater, they are a play theater. You know, you can go see the play. I know here in the Twin Cities, you can go to the Guthrie Theater every season and see a Christmas Carol. We've done that. Plus the movie versions. There's a couple of great movie versions.

Yeah, I rewatched Scrooge a while back and I was like, how did my parents let me watch this?

Yeah, that one's that one's that one's a bit different, pretty modern, pretty interesting. But the message is great in that.

Yeah. Well, I mean, and there's so many different versions of it. Right. So in all of them, Scrooge is cheap and he's you know, he's all about wealth. All of the movies are really about wealth and poverty and generosity and, you know, the three ghosts who are tormenting Ebenezer Scrooge and whether it's Scrooge McDuck in the Disney version or Bill Murray and our favorite version, Scrooge. I think the lesson is that if you're in a position to help others, that's a good thing. So for all of our listeners and viewers, I just want this to be the annual reminder that I know times are tight. I know inflation's high. I know that Christmas dinner is more expensive than ever. Maybe buy a toy, you know, one extra toy for Toys for Tots, or maybe sponsor a local family that can't afford presents. There's a really big charity near us run by the Toya family called Friends of Foster Kids, and they take care of over a thousand foster kids. And you see these lists, Tony, of what these foster kids are asking for. And it just absolutely breaks your heart. So they're asking for underwear and socks and toothbrushes. Yeah.

Necessities.

Yeah. Yeah. They're not asking for PlayStations. They're just asking. Yeah. Exactly. So no matter how tough things are, odds are you can afford to buy some socks for a foster kid or somebody who's homeless. So with the Christmas Carol, just taking that movie, taking a step back and saying we are blessed. You know, let's let's try and be a blessing to others this holiday season.

Yeah, there you go. I think that's really important. And being a blessing to others is what it's all about. The entire holiday season, I believe, should be about that from Thanksgiving to the New Year's. Help other people out. And that's a great point. And that's what A Christmas Carol is all about. And what a great story. I mean, my goodness, Charles Dickens. What a I mean, just that is that is a story that will endure over the ages. I mean, that's a it's amazing when something somebody creates a work of art. That motivates and moves people so much that it transcends time, uh, that it's going to last that, that will last forever, that story. So, uh, and that's impressive because most things won't, most things will end up being forgotten, but that one will not. So that's great. Um, what's another one I, and I want you to talk about, I know you're going to talk about this one a What about Home Alone? That is it's funny because, you know, the director, I believe, director and writer of Home Alone, same director and writer of Christmas Vacation, John Hughes. John Hughes. Yeah. Ferris Bueller's Day Off, Home Alone, Uncle Buck, Planes, Trains and Automobiles, which is a Thanksgiving movie. So now we're talking about Christmas, though, and Home Alone is a classic Christmas movie. I love it. What's the fight? What's the deal here, though?

So I really want to overemphasize today's show is about, you know, family and finances. So Kevin, little Kevin was acting up during the movie, Tony, and he was basically annoying everybody. So, you know, he's only 10 years old, so who can blame him? But he was being very, very self-centered leading up to when he makes his parents disappear. So I think the takeaway from that particular part is just that At some point, some relative is going to really upset you, Tony. So it's good. Or maybe you're already mad at a relative, you know. You must have met my mother-in-law then. Oh, gosh. Let's not get the families involved, Tony. I don't want to get started. No.

She will probably come up to me and say, have you gained weight during the holidays at some point? Yeah. I always love that one. Yeah. Yeah. But she can't help it. No filter.

Yeah. Oh, that's good. That's a blessing with age, right? You can just get away with that stuff. And you laugh.

You got to laugh. Yeah. The problem is she's done that the last 32 years I've known her. But that's okay. Oh, perfect. Now she can blame it on age. Yeah.

Nothing like a personality flaw. Don't make it about that. Just smile. Smile and wave, boys. Yeah. Well, that's my message, Tony. The holiday season is a good time to just let that stuff go. Forgive and forget. Move on. Make amends. I would agree. Don't make it about that.

Yeah, I laugh. I find humor in it. You know, I stand back and watch the family dynamics and you can't let anything get get to you. But again, don't be selfish over the holidays like Kevin was. Right.

Yeah. Yeah. Another thing is just, you know, beware the wet bandits. So a lot of people will. They'll go on social media and say, I'm going out of town or Christmas picture. And, you know, I just heard the quarterback for the Cleveland Browns, Shadur Sanders, got his first NFL start last weekend. And burglars use that as an opportunity to completely rob him blind. So crazy. Yeah. So they wait until they know a person is playing in a professional sports game. And then that's when the bandits go in.

So they know his whole family is going to be there to see him, especially during that game. No one's going to be at home.

No. So protect your valuables. Don't advertise online that you're going out of town. Get an alarm system that has a backup battery just in case the power goes out or something like that. And get a house sitter. Yeah. Get a 10-year-old boy with a BB rifle and just make sure.

Oh, boy. Or an adult. We don't have to listen to Ken's advice on that one. Or actually have an adult house sitter. To each his own. To each his own. Yeah. 10 year old boy. I guess you're referring to Kevin there with a BB gun. That's funny. The wet bandits. That's a classic.

Yeah. So last one is just make sure nobody's left out. So obviously Kevin got left behind and that was an oversight, but whether you have a family member or a friend who might be home alone this holiday season, there's people that are suffering from medical stuff, from cancer, there's shut-ins, there's people that you know that have absolutely no family. Doing even that, you know, you don't necessarily have to invite them over for dinner, but just the smallest gesture could go such a long way for for brightening their holiday season. People who have had a spouse just pass away. You know, the holidays can be a very, very lonely time for some people. So just a good reminder to reach out and be a good neighbor, be a good friend.

Yeah. I think that's great. Yeah. And so that's a good one. Home alone. What's, what's another Christmas movie that we like or that you really like that also teaches a really good financial lesson.

Yeah. The Grinch movie. So yeah. So this is another one. There's been at least, I think three versions, right? So maybe even four. So there's like the original animated and then there's the Jim Carrey version. And then there's a 2018 version of, Yeah, the newer animated version, yeah. Yeah, yeah. But the common theme through all of them is commercialism or consumerism. Yeah. So, you know, when the Whoville's just getting riled up, you know, it's all the feasts and the presents stacked up to the ceiling and everything like that. Just a reminder to don't get too wrapped up in what you spend, okay? Or how well you decorate, or how big the feast is. Inflation has been crazy for years. You go to the grocery store and people are shocked by how much just a couple bags of groceries can cost. So maybe this is a good time to just focus on what's really important. Your family, your friends, your pets, your experiences. you know, maybe rather than buying someone a really big expensive gift, you go for a drive together, just look at Christmas lights and have a coffee together, maybe a walk downtown and, you know, get a drink together. But see, in my example there, Tony, I did not say to go out drinking and driving. That's a no-no. Another financial lesson, DUIs are very expensive and your auto insurance rates will go up. So an Uber is much cheaper than drinking and driving. So just a a friendly note there, but anyways, consumerism, Tony, take, take it easy. It doesn't always have to be all about the money. It doesn't have to be about keeping up with the Joneses. Don't have to keep up with Clark Griswold and put all those lights on top of your house to decorate, you know, just, just cool it, concentrate on what's really important. Yeah, there you go.

Focus on what's important. I really like the Grinch. I love the original cartoon and I love Jim Carrey's version, of course. And that's a great story. It is. In the end, it's not about things, you know, don't get all wrapped up in bows and gifts and things like that. Now, it's a little hurtful to get wrapped up in so much food, how much food you have. That's a part I think we should still keep. But you know what? The really important thing that I've noticed, like looking back as I get older, my memories like of my grandparents or I have such fond memories of my grandma and grandpa don't remember one single Christmas gift they gave me. And they gave me a lot of gifts and great gifts. I was an only child and one of their first grandchildren. So I was very spoiled. Right. And I live close to both of them. So I got a lot of gifts. Don't remember any of them. But guess what I remember? I remember those family gatherings and the feelings we had at Christmas. And I do remember some of the food, the specialties, the traditions of certain meals. And I do remember spending time one on one with them. So that's the gift that's going to keep on giving. You know, you're going to if you get them the new, you know, whatever it is these days, you know, you get them the the new Switch, the Nintendo Switch 2. Are they going to remember that or are they going to remember you taking them fishing or taking them on a trip or spending time with them? No, they're going to remember going to your house to visit and hanging out. That's what they'll remember. They're going to seem more excited in the moment maybe about a toy, but it's really time spent with them.

Absolutely. Great, great message.

Yeah. Okay. So what else? I think you've got a bonus movie for us before we go.

Yeah, we're running out of time here. But so in the same vein, you know, so it's a classic joke of whether Die Hard is a Christmas movie or not, you know, famous. What is it? Yamaguchi Plaza. Exactly. You know, it's so here's here's the latest debate. And I actually asked my daughter, Charlotte, you know, I told her I was doing the show and brainstorming ideas. And she said the original Harry Potter movie, she said that is now viewed as a Christmas movie because so much of the plot revolves around Harry staying at Hogwarts, which is his school of magic over Christmas break. So I was like, OK, that's a Christmas movie now. OK, so this is the biggest takeaway from that.

I would have never thought of it as a Christmas movie, but I guess there is a, you know, a segment of it which takes place at Christmas, right?

Yeah, it's it might be a little bit of a stretch. I'm not going to hate on Charlotte for her. I appreciate her being

No, I think it's a great idea. I mean, I had forgotten all about it and I can see why it's more of a Christmas movie than it probably has as much or more Christmas in it than that.

That's why I decided to include it. I was like, yeah, it's a movie, you know. Yeah. That's in Christmas. Yeah. So the, the biggest takeaway I took from that is there's a scene where his evil cousin, Vernon Dursley gets presents and he comes out and his parents have 36 presents for him. And then he absolutely has a fit because the previous year he got 37 presents. So then his mom agrees to buy him two more. And then his aunt Marge gave him a gift. So he ended up with 39 gifts and then he was, Pacified and happy. So, you know, one of the most famous, uh, greedy little kid scenes, and yes, film possibly. So yeah, just another reminder to don't get too wrapped up and, and how big the pile of presence is under the tree, whether it's for your loved one, you know, significant other, or child, or, or whoever it is, uh, don't, don't count the presence. If you or your kids are getting too obsessed with the size of the pile, might be time to refocus on what's really important. Yeah, it's Spend more time with the family.

Yeah, exactly. There's a lot more important messages about Christmas and what Christmas is really about than focusing on how many presents. That's for sure. I like that. I like that. And I like the Harry Potter movies. And my children really enjoyed them. We read the books first and then the movies came out. So that's really good. This has been a fantastic show. And we want to wish all of our listeners and viewers out there a happy holiday. But if they do have financial concerns or need to get a plan in place or want a second opinion on where they're at, Maybe they're getting closer to retirement. How can they get a hold of you and your team there to set up that no charge, no obligation consultation?

Yeah, give us a call at 586-226-2100. Or you can visit us on the web, summitfc.net. And we'd love to talk to our listeners and viewers and help them put together basically a plan to accomplish their goals, whatever that is. What is it?

Sorry. Yeah, that's an awesome drop.

Ken, you are the gift that keeps on giving the whole year round each and every week. I know our listeners and viewers love to tune in to hear your take. And today we got some hot takes on some amazing Christmas movies.

Yeah, yeah. Well, you know, in summary, this holiday season, everybody, be generous out there. Be kind to those who need it, especially people who are battling illness. You know, we just want everyone to have a great holiday season. And remember the reason for the season. It's not all about the presence.

Right. Exactly. Thanks, Ken. Listeners and viewers, thanks for tuning in. That does it for our episode today of Money Talks with Summit Financial Consulting. and our host, Ken Wink. Thank you for joining us for Money Talks. Don't head into retirement without a strategy that addresses both income and taxes. For more information, please contact Ken Wink at Summit Financial, working with people you trust. Call 586-226-2100 or visit summitfc.net. Join us again soon for another episode of Money Talks.