Personal Finance Documentaries: Have you ever thought of watching a personal finance documentary instead of your favorite TV show on the weekend? Most likely not, and for that I am sorry, but I am here to tell you that you are missing out.
Documentaries can make you feel less alone when making important financial decisions, even if personal finance is, well, personal. Furthermore, since the majority of us did not receive a formal education in finance, learning about personal finance must be done hands-on if knowledge and abilities are to truly stick. If not, it’s like trying to find your way around a pitch-black cave on your own.
Despite my profession as a financial writer, I’m constantly seeking methods to raise my level of financial knowledge. Typically, I advise reading books on personal finance, downloading podcasts, and signing up for financial newsletters (such as Money Matters, which we launched at CNET). However, after going down a documentary rabbit hole, I realized how beneficial it is to “watch” personal finance.
3 Must-Watch Personal Finance Documentaries to Boost Your Financial Knowledge
Numerous movies examine personal finance, covering everything from the fundamentals to dissecting high-profile cases like the Game Stop affair. You already have access to several streaming services if you have a Netflix or other subscription service. These three documentaries caught my attention.
1. Get Smart With Money
Excellent for the fundamentals
In the 2022 Netflix documentary Get Smart With Money, four financial advisors are followed as they assist clients facing various financial difficulties. It concentrates on the fundamentals: reducing credit card debt, ending the cycle of living paycheck to paycheck, learning how to budget while aiming for an early retirement, and stock market investment.
Together with people from various socioeconomic backgrounds, Peter Adeney (Mr. Money Mustache), Tiffany Aliche (The Budgetnista), Ross MacDonald (Ro$$ Mac), and Paula Pant of Afford Anything analyze spending patterns and establish expectations for achieving financial objectives.
We are introduced to Ariana in the movie, and she calls herself an emotional spender. She once took out a personal loan to combine her credit card payments into one that had a cheaper interest rate, even though she had $45,000 in credit card debt. However, she swiftly maxed out her credit cards and fell into a vicious cycle of debt. By creating a long-term debt repayment strategy, financial educator and Get Good With Money author Tiffany Aliche intervenes to assist Ariana in getting back on her feet.
You won’t discover anything novel in this documentary if you already know a little bit about basic money management. Nevertheless, certain key lessons can be learned. The key takeaway is that you cannot overcome a poor money habit until you alter your perspective and establish realistic objectives.
2. The Most Important Class You Never Had
Things you should know but don’t learn in school
This film, from the makers of Next Gen Personal Finance, focuses on personal finance education and its effects outside of the classroom. Next Gen Personal Finance offers educators free resources to help students develop financial literacy abilities.
In the US, just one in six high school graduates must complete a semester of personal finance coursework to graduate. You’ll meet eight high school teachers in this 37-minute documentary as they teach students about basic money management concepts like budgeting, investing, savings techniques, and retirement planning. Every educator looks at the reasons why younger generations are not receiving enough personal finance education and what we can do to build a solid foundation in money management.
In the movie, personal finance and accounting instructor Patrick Kubeny concentrates on real-life situations. He talks about practical topics like avoiding credit card fraud and planning for retirement. Thanks to Kubeny’s lessons, one of his students has already saved over $1,000 in a Roth IRA. This serves as a reminder that teaching children about personal finance can better prepare them for success in the financial world beyond high school.
Social Security Payment July 2024: Social Security Payment Dates and Information
3. Money, Explained
Handling the minefields of money
Money, Explained by Vox is a docuseries that covers a wide range of financial topics, including credit cards, gambling, retirement, student loans, and financial fraud. Narrated by celebrities and with each episode running about 20 minutes, this five-episode series delves into specialized subjects such as the impact of student loan debt, the history of credit cards, and the role technology plays in financial fraud, offering an insightful look at the complexities of money.
This documentary series highlights the human side of finance. It looks at how money influences our mental health and sense of security rather than only guiding credit card selection or budget building. For everyone trying to raise their financial literacy understandably, it’s a fantastic beginning place.
Celebrities like Tiffany Haddish, Edie Falco, and others covering the risks of get-rich-quick schemes and the student loan debt crisis—topics you might not have known you need to know about until you watched the docuseries.
