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This text is the newest a part of the FT’s Financial Literacy and Inclusion Campaign
College could also be out for many, however should you’re settling down to look at a movie with the household this Christmas, listed below are some straightforward methods to complement their display screen time with some covert monetary schooling.
It’s been a really grim 12 months for our private funds and it’s prone to get even harder in 2023. The necessity to educate our youngsters and grandchildren good cash habits has by no means been extra essential, however discovering methods of engaging them could be a problem.
Films present priceless reference factors for kids to get their heads round what’s taking place on this planet round them. So I requested my social media followers to suggest movies that would spark significant conversations about cash with youngsters (and adults) of all ages.
As you’ll see from the choice under, not all of them are festive. Some are very previous — you may keep in mind them from your individual childhood. However all of them comprise priceless classes about our cash, and our lives.
What higher place to begin than the Christmas traditional It’s a Great Life? (U)? Undoubtedly one to look at when the grandparents come spherical, it’s a helpful primer about how banks work — and what occurs when folks can’t pay again what they’ve borrowed. Older youngsters could possibly be inspired to narrate scenes of economic panic to latest runs on crypto exchanges.
Buying and selling Locations (15) is a Christmas comedy with a critical cash message. Starring Eddie Murphy as a wily road con artist, as the results of an elaborate guess, he swaps locations with rich dealer Dan Aykroyd. Watching this might spark questions on monetary privilege (“The easiest way you damage wealthy folks is by turning them into poor folks”) in addition to the blurry line between moneymaking schemes and outright scams.
There are many motion pictures that discover the ethical dilemma of how cash corrupts, Wall Avenue (15) being the apparent decide. Regardless of what Gordon Gekko says, is greed actually so good? In case your baby was in Bud Fox’s place, would they’ve executed something in a different way?
Leaping forward to the 2008 monetary disaster, The Massive Brief (15) reveals what occurred when the banks acquired too grasping. Quick-paced sufficient to get anybody serious about economics, as home costs teeter and mortgage charges soar, there are many methods to narrate this to right this moment’s information agenda.
With monetary fraud at report ranges, exploiting folks’s desires of changing into wealthy with a purpose to make off with their cash is an everlasting theme.
Boiler Room (15) was made in 2000, but the psychology of why we fall for scams has not modified a lot — simply the strategies by which money is extracted. When the credit roll, ask your child what they learn about on-line funding scams, quantity spoofing and cash muling.
Whereas it predates social media, Catch Me if You Can (12) starring Leonardo DiCaprio as a teenage con artist pretending to be somebody he’s not might spark conversations about influencers not being all that they appear. If solely the dogged FBI agent performed by Tom Hanks might clear up the web.
For older youngsters, DiCaprio’s Oscar-worthy efficiency in The Wolf of Wall Avenue (18) takes the get-rich-quick hustle to a extra excessive, grownup stage. There’s heaps to speak about right here, but when Jordan Belfort have been a younger dealer right this moment, I really feel certain crypto could be his asset of alternative — there are simply so many synergies.
It’s too early for a film about Sam Bankman-Fried and the collapse of FTX (although I anticipate Hollywood administrators are drooling on the prospect). Not a film, but when your children are interested in crypto, the wonderful Defined docu-series on Netflix has a terrific episode on this — and don’t overlook Skandal! (the story of how FT colleagues introduced down Wirecard, the German funds firm).
For Dolly Parton followers, 9 to five (rated 15) is the final word film to get youngsters speaking in regards to the gender pay hole, plus what workplaces have been like earlier than computer systems, and has a cracking soundtrack. The plain query is, how a lot has actually modified for ladies because the Nineteen Eighties?
One other huge Hollywood theme is whether or not cash should purchase you happiness — one thing that basically resonates in instances of rising wealth inequality.
Richie Wealthy (PG) stars Macaulay Culkin because the richest child on this planet who has all the pieces — besides buddies. Would having your individual rollercoaster and McDonald’s actually be enjoyable should you had no one to share it with?
Obtained Disney+? The 1974 animated model of Robin Hood (U) is a riot, and can get even young children eager about the distribution of wealth in society. In addition to exploring the ethical dilemma of whether or not stealing can ever be justified, you may query whether or not rich folks ought to pay extra taxes (that ought to spark a Christmas argument with the kin.)
For older youngsters, Ken Loach’s pulverising 2016 movie I, Daniel Blake (15) explores the gaping holes within the UK advantages system. A troublesome watch, however the price of residing disaster has made this much more related.
When your tears have dried, this might immediate conversations about politics and the very important position that charities and meals banks play in society (they could even wish to donate a few of their Christmas cash or undesirable toys). Digital exclusion is one other rising downside. What number of on a regular basis issues is it now not possible, or very tough, to do with no smartphone?
Whereas not a film, the Channel 5 actuality collection Wealthy Home, Poor Home sees households of various earnings ranges commerce houses, budgets and existence (“In six weeks, they spend what you do in a 12 months.”) This provides a barely much less bleak glimpse into the category divide — and is bound to impress loads of sensible questions.
For older teenagers, the hit Korean movie Parasite (15) appears at this via a a lot darker prism, as a struggling household seizes the chance to deceive and exploit a wealthy household. Whose facet are you on?
That’s sufficient motion pictures to see you thru to the brand new 12 months, however I’ll chuck in another for good measure. Pals With Cash (15) provides a extra light-hearted tackle differing earnings ranges. Jennifer Aniston stars as Olivia, who quits a profitable job solely to learn the way awkward issues can get when your pals all have way more cash than you do.
In case your children love Pals, get them to look at “The One with 5 Steaks and an Eggplant” which tackles the perennial downside of splitting restaurant payments. What is the fairest method of doing it?
Do add your individual ideas within the feedback under. And earlier than you agree down with the popcorn, as a ultimate lesson, get your children to seek out which streaming companies will allow you to look ahead to the bottom value, or free.
Claer Barrett is the FT’s shopper editor and the author of “What They Don’t Educate You About Cash”. claer.barrett@ft.com; Twitter and Instagram: @Claerb
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