by Geoff Williams
Thursday, March 20, 2008
It's no secret that you can learn something about the way money works by watching television programs like "Power Lunch," on CNBC, and "Money for Breakfast," on FOX Business. But for those of us who don't read stock quotes and fund prospectuses for fun, watching those shows can feel like work. Sometimes, you want to just sit back and watch Andy and Barney outwit some small-town crooks and not think too hard.
Fortunately, if you want to enjoy a fun sitcom or a trashy reality show and still learn how to make money, you can. You just have to watch them with a slightly different mind-set.
If you really think about your favorite TV programs, you can pick up almost as many financial lessons as you could by watching Maria Bartiromo on CNBC.
Don't believe us? Then read about the money lessons in these eight classics.
The show: "The Cosby Show"
Channel: TV Land
What you can learn: See what family life can be like when both parents work hard to become successful, affluent professionals. The family goes through the trials of daily life while putting family first -- and managing to laugh, hug and drop lots of clever one-liners.
Money quote: In this famous dialogue from the pilot episode, Theo tells his dad that he doesn't aspire to make a lot of money like his parents. He wants to make just enough, like regular people. And so using Monopoly money, Cliff offers a classic lesson in economics.
Cliff: So how much do you expect to make a week for "regular people"?
Theo: $250.
Cliff: (pointing to the bed) Sit down. I will give you $300 a week. $1,200 a month. (Cliff hands the money to Theo)
Theo: I'll take it!
Cliff: And I will take $350 for taxes.
Theo: Whoa!
Cliff: Oh, yeah. See, the government goes for the regular people first. So, how much does that leave you with?
Theo: $850.
Cliff: OK, now you'll need an apartment because you are NOT living here. Now an apartment in Manhattan will run you at least $400 a month. (Cliff takes $400)
Theo: I'll live in New Jersey. (Theo takes back $200)
Cliff: Now you'll need a car. (Cliff takes $300)
Theo: I'll drive a motorbike. (Theo takes back $100)
Cliff: You're gonna need a helmet. (Cliff takes $50) Now figure $100 a month for clothes and shoes.
Theo: Figure $200. I wanna look GOOD.
Cliff: So, how much does that leave you with?
Theo: $200. So, no problem.
Cliff: There IS a problem! You haven't EATEN yet! (Cliff takes $100)
Theo: I can get by on bologna and cereal. (Theo takes back his $100) So I've got everything under control PLUS $200 left for the month.
Cliff: You plan to have a girlfriend?
Theo: For sure.
(Cliff takes the remaining $200)
Cliff: (pointing at Theo's empty hand): Regular people.
The show: "Ugly Betty"
Channel: ABC
What you can learn: It may not be "The Office," but it is life in an office, albeit one at a fashion magazine called Mode, and throughout the series money is often a subtext of the show. In some cases, the show provides a subtle look at the class system: Betty Suarez is the sweet heroine of modest means, who is beautiful despite not being one of the beautiful people.
Many individual episodes, however, often feature slices of life revolving around finances. For instance, in the first season, Betty has to organize the finances of her publisher boss, Daniel, which leads to her eventually learning that some of her co-workers have falsified expenses; Daniel is yelled at by his father, Bradford Meade, who still owns the magazine, and gets his company credit card cut off for a week; Wilhelmina, the magazine's assistant editor, uses her company credit card expense account for a "butt lift." And on it goes.
Money quote: "A job is not about making friends. It's about making money and stealing office supplies. By the way, we're out of coffee filters." -- Hilda, Betty's older sister
The show: "The Simpsons"
Channel: FOX
What you can learn: You thought it was a cartoon, but if the animation were distilled into one oil painting hanging in an art gallery, the title might read: "A Fool and His Money."
Over the years, Homer Simpson has lost his family's life savings, become a grifter, been audited by the IRS, accepted a loan from his bartender Moe (who we learn is also a loan shark), and given up work for eight days so he can be the second person in line to get some football tickets.
And who can forget the time that, after attending a seminar where they learned to be smart shoppers, Homer took his family on an expensive trip to Tokyo? While there, they lost all their money.
Money quote: "Bart! With $10,000, we'd be millionaires! We could buy all kinds of useful things, like love!" -- Homer Simpson
The show: "The Colbert Report"
Channel: Comedy Central
What you can learn: Jim Cramer and Suze Orman? Mere pretenders, compared with the financial wizardry of Stephen Colbert, who has his finger on the pulse on Main Street America more than any other financial guru on television. Oh, sure, you'll hear political commentary on "The Colbert Report," but there's also a wealth of monetary advice that admittedly, if followed, will get you followed by sheriffs and IRS agents.
Colbert's regular segments include "Bears & Balls," in which finance-related questions are asked, and he provides answers ("Buy gas. It's a sure-fire commodity with no risk except for the sure risk of fire.") Then there's Colbert Platinum, in which the host thoughtfully showcases outlandishly pricey products that only the superrich can afford. But that's OK. As Colbert points out, these segments are for billionaires. Cash-strapped millionaires should change the channel.
Plus, Colbert promotes the idea of being entrepreneurial, always hawking products based around his name. He encourages his viewers to buy wrist bracelets for a counterfeit cause like sore wrists, but the very real money goes toward helping worthy causes, most recently sending $170,000 to the Yellow Ribbon Fund to help injured soldiers and their families.
Money quote: "Saving the planet appeals to the wealthy -- because they own so much of it."
The show: "Sex and the City"
Channel: TBS
What you can learn: Carrie Bradshaw, Samantha Jones, Charlotte York and Miranda Hobbes are all living in the corporate world -- "Desperate Housewives" this is not. Financial lessons abound, particularly when following Carrie, who has trouble with the "living within your means" guideline.
Money quote: In one episode, Carrie learns she may lose her apartment, is turned down for a bank loan and realizes that during her lifetime, she has spent a grand total of $40,000 on shoes.
Carrie: I've spent $40,000 on shoes, and I have no place to live. I will literally be the old woman who lived in her shoes!
The show: "Two and a Half Men"
Channel: CBS
What you can learn: Money is always haunting the Harper brothers. Alan is a chiropractor, but has his finances tied up in alimony payments and child support. Charlie is a musician, but not the kind who makes platinum albums; he writes ad jingles. After Alan's second divorce, he makes the wry observation that, "In my entire life, my dog is the only person I've slept in the same bed with that didn't sue me for alimony."
Money quote: The best example may be the episode in the first season where Charlie realizes he's spending far more than he's earning. In a heartfelt moment, he discusses his plight with his housekeeper, Berta, who is surprisingly supportive, reassuring him:
Berta: Well, you don't have to worry about paying me this week, Charlie.
Charlie: Thank you, Berta.
Berta: I'll just take this espresso maker and be on my way. Call me when things pick up.
The show: "The Office"
Channel: NBC
What you can learn: Michael Scott, the Scranton, Pa., branch manager of paper company Dunder Mifflin, is a case study for how not to manage one's finances professionally and personally.
For instance, in the one-hour episode titled "Money," Michael is deeply in debt, thanks to his penchant for making extravagant and unnecessary purchases, from a Porsche to bass fishing equipment and an $80 magic kit, which he planned to use to entertain potential clients. In the same episode, Michael takes on a second job as a telemarketer to bring in extra cash.
Even what Michael did in his youth, before he joined Dundler Mifflin, is a financial cautionary tale. As a young man, he admirably put aside money for his education while working at an Arby's restaurant. But his plans to go to college were destroyed when he lost his entire savings in a pyramid scheme.
Money quote: "Yes, money has been a little bit tight lately. But, at the end of my life, when I'm sitting on my yacht, am I going to be thinking about how much money I have? No. I'm going to be thinking about how many friends I have. And my children. And my comedy albums. I mean, I have a yacht, so I obviously did pretty well, money-wise." -- Michael Scott
The show: "The Apprentice"
Channel: NBC
What you can learn: In real life, just as on the show, there are co-workers who will demoralize their team and who will be happy to sell your soul if it means currying favor with the boss, who you will hate. Yet there will be other staff members who you will take a bullet for, or even risk hearing, "you're fired," if it means protecting your workplace pal. If nothing else, by watching the show, you can experience what it would be like to work for The Donald -- Trump, that is -- whose shoes are probably worth more than your mortgage.
Money quote: "I take solace in the fact that I have a higher IQ than the other 15 contestants, which just goes to show you that there's little correlation between IQ and success in lemonade sales."-- David Gould, who may have been a little frustrated about being the first contestant to be fired in the first episode of the first season of "The Apprentice."
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