Financial Memos

You’ve probably seen them—those YouTube channels that dive deep into the financial habits of characters from popular movies and TV shows. They meticulously calculate what Carrie Bradshaw must have spent on shoes, or how much Tony Stark’s gadgets would cost, analyzing every detail from apartment prices to income sources. It’s fascinating, but is it useful? Can we actually learn anything about personal finance from these fictional characters, or is it just entertaining fluff? In this article, we’ll break down whether financially auditing characters in movies and TV is merely fun or whether it can offer real-world personal finance lessons. We'll explore some prominent examples and case studies and dig into what makes this kind of analysis both entertaining and educational. Why Financial Audits of Fictional Characters Have Gained Popularity First, let’s talk about why this concept has taken off. With the rise of YouTube and social media, niche topics like these have found devoted audiences. Channels like The Financial Diet or The Financial Auditor take popular culture, which everyone loves to discuss, and give it a financial twist. There’s something deeply satisfying about scrutinizing a character’s life choices and adding up their (likely) absurd budgets. Auditing fictional characters allows viewers to experience two things: escapism and realism. On the one hand, you’re still in the world of fiction—dreaming about New York lofts or superhero lairs. On the other, there’s something grounding about bringing numbers and budgets into the picture. It reminds viewers that even their favorite characters, if they were real, would need to manage money in some way or another. But does it help in real life? Let’s dig deeper. Case Study 1: Carrie Bradshaw’s Closet, Lifestyle, and Apartment Arguably one of the most frequently audited TV characters is Carrie Bradshaw from Sex and the City. Carrie, a columnist who writes a weekly piece for a newspaper, lives in a spacious Manhattan apartment, has an insatiable shoe obsession, and frequently dines out at fancy restaurants. So how on earth does she afford it? Breaking Down Carrie’s Finances In the show, Carrie claims to make $4.50 per word for her column, which, when added up over a month, amounts to somewhere around $2,000-$3,000 in income. Yet, Carrie spends thousands on designer shoes, drinks, and dinner parties. Just one episode has her discovering she’s spent around $40,000 on shoes. That’s some serious spending. When financial auditors broke this down on YouTube, they pointed out several problems with Carrie’s financial situation. Most glaringly, she had no concept of savings, was constantly maxing out credit cards, and lived paycheck to paycheck—despite an obvious mismatch between her income and her expenditures. What Can We Learn? Here’s where the lessons come in. Carrie’s financial decisions provide some valuable takeaways: Lifestyle Inflation: Carrie lived a lifestyle that far exceeded her income. This highlights the dangers of lifestyle inflation, where your expenses rise as soon as you make more money. Lack of Savings: Carrie had no emergency savings, and when a financial crisis hit, she had to rely on friends or sell possessions. This is a textbook case of what happens when you don’t build a financial cushion. The Allure of Debt: Carrie frequently charged items to credit cards and didn’t think much about the interest that would accumulate. Her behavior showcases how easy it is to ignore debt when you’re focused on the now and not the long-term consequences. Case Study 2: Tony Stark—The Billionaire Who Can’t Stop Spending On the opposite end of the spectrum, we have Tony Stark, AKA Iron Man, from the Marvel Cinematic Universe. With billions in wealth, an arsenal of high-tech suits, and a mansion that overlooks the Malibu coastline, Tony has the financial freedom that most of us can only dream of. So, is it still useful to audit someone with seemingly unlimited wealth? Breaking Down Tony’s Finances Let’s pretend for a second that Stark Industries actually exists and has roughly the financial standing of a tech giant like Apple or Tesla. Tony’s personal net worth is estimated to be over $12 billion, thanks to inherited wealth and his genius as an engineer and inventor. He’s not worried about the cost of living or a savings account, but his spending habits raise an important question: even with that much money, is Tony Stark financially responsible? Tony is notorious for blowing money on extravagant gadgets, cutting-edge technology, and over-the-top parties. He also has no clear financial plan for the future, beyond throwing money at new suits of armor and R&D. His wealth management seems to take a backseat to his passions, leading us to ask: Can you ever be too wealthy to worry about personal finance? What Can We Learn? While Tony’s billions put him in a different league than most of us, there are still takeaways from his financial behavior: Over-committing to Passion Projects: Tony’s constant investment in new technology is exciting, but it’s worth considering how even the wealthiest people can over-invest in their passions to the detriment of long-term security. Diversification Matters: Even billionaires should diversify their wealth. Tony’s reliance on Stark Industries as his primary financial engine leaves him vulnerable. What if the company goes under? Sustainability Over Time: Just because Tony doesn’t need to budget day-to-day doesn’t mean his wealth is inexhaustible. Even vast fortunes can disappear if they aren’t managed wisely, especially if there’s no planning for future generations or economic downturns. Case Study 3: The Weasleys—Frugality in the Wizarding World On the flip side of Tony Stark’s excess, we have the Weasley family from Harry Potter. With seven children and limited means, Molly and Arthur Weasley are the epitome of a family that has to make every knut (Wizarding money) count. They live in a modest home, make do with hand-me-downs, and constantly find creative ways to save money. Breaking Down the Weasley Finances Despite their financial challenges, the Weasleys seem content, and their priorities are in the right place. Their spending choices focus on providing for their children’s education, staying out of debt, and making smart, practical decisions. For example, they use second-hand school supplies and magically expand their small home instead of moving to a larger one. What Can We Learn? The Weasleys are a great example of how frugality and sound financial habits can help a family thrive, even without much income: Prioritizing Needs Over Wants: The Weasleys focus on the basics: education, food, and shelter. Even when funds are tight, they avoid unnecessary splurging and manage to keep their household running smoothly. Creative Problem-Solving: Whether it's magically repairing a broken object or reusing old items, the Weasleys make the most of what they have. In real life, this equates to finding ways to cut costs, like DIY projects, buying second-hand, or repurposing items. Community and Support: The Weasleys also benefit from strong family and community ties, which provide a support network. In real life, building relationships and a support system can often offset financial pressures. The Pros and Cons of Financial Auditing Fictional Characters Auditing the finances of TV and movie characters is entertaining, but is it practical? Pros: Engaging Format: Fictional characters provide a fun and engaging way to think about personal finance. It makes dry topics like budgeting or saving more relatable and enjoyable. Insightful Lessons: As seen in the case studies above, auditing characters can reveal important lessons about money management, whether it’s avoiding debt, being frugal, or thinking long-term. A Reminder That Everyone Needs a Plan: Whether you're a broke columnist or a billionaire inventor, everyone needs to manage their finances carefully, or the consequences can catch up to you. Cons: Over-Simplification: Fictional characters live in a world where writers control everything, so it’s easy to fall into traps of oversimplifying real-world issues. Carrie Bradshaw’s financial problems, for example, could be magically resolved by a script, which doesn’t happen in real life. Not Realistic: The lifestyles depicted on TV and in movies are often wildly unrealistic. Trying to apply the same financial standards to yourself could lead to frustration or even encourage bad spending habits (like Carrie’s). Conclusion: Should We Care About Fictional Financial Audits? In the end, financially auditing fictional characters can be both fun and educational. While they may not mirror real life perfectly, these audits offer an accessible way to discuss important financial topics. Whether it’s learning from Carrie’s overspending, Tony Stark’s lack of diversification, or the Weasleys’ frugality, these analyses can provide practical insights that are easy to digest. Ultimately, while it’s important not to take these audits too literally, they can certainly be a useful tool for sparking interest in personal finance—and who knows? Maybe next time you watch your favorite show, you’ll find yourself calculating how much that fancy apartment would cost, too.