Once again, credit cards are not free money.
If you’ve ever binge-watched Schitt’s Creek, then honestly, same. It’s a sitcom about a wealthy family that suddenly goes broke and finds itself forced to live in a conveniently named small town called — you guessed it — Schitt’s Creek. So what’s not to love?
I’ve watched all six glorious seasons three times and have zero regrets. But Moira’s matchless musings aside, the show actually inserts some very real lessons about money that viewers can learn from.
1. Make sure you file taxes on your income, whether you’re employed by a company or you run a business.
2. Money can take you on an emotional roller coaster. And when disaster strikes, things can feel extra overwhelming.
3. Seek professional advice when needed. Professionals can analyze your circumstances and come up with a personalized plan for your next steps.
4. Always do your research before making an investment.
5. Credit cards are NOT free money.
6. Side hustles can be lucrative but they’ll often require *a lot* of work to earn a profit. Also, do research to make sure there’s a market for what you want to sell.
7. If you’re a business owner, not paying unemployment insurance taxes can disqualify you from receiving unemployment benefits if you eventually need them.
8. Money can sometimes muddy the waters when it comes to family. Make sure everyone is on the same page when lending and borrowing.
9. Some items can work as investment pieces that can be sold when you need extra cash.
10. Great discounts can be lurking anywhere; you just have to look for them.
11. A tax write-off does NOT mean free money for spending on your business.
12. Make sure you reaaally need it before you buy it.
13. Don’t let any money-saving company benefits go to waste.
14. Stash some cash into an emergency fund for a rainy day — even if you only put aside a little at a time.
15. Keep your account information in a safe place for when you really need it. Also, follow all account setup instructions to a T.
16. Budgets can be more important than you might think.
17. Don’t be afraid to negotiate for more whenever you can.
18. Save up extra money, like bonuses and tax refunds, that comes your way to give yourself some financial cushion.
19. You don’t need to buy the fanciest or newest car model. Also, walk in already knowing what your car budget is.
20. Save for any major upcoming expenses you’ll have.
21. And also save for any splurges you’ve been eyeing.
22. Treat yourself. You deserve it! But try not to get too carried away when you still have other expenses.
23. When shopping around for a new home, apartment, or event venue, always know your budget and research pricing ahead of time.
24. Money can’t buy happiness.
25. Lastly, make your money work for you.
What other TV shows are full of hidden money lessons?
And if this sounds like music to your ears (and bank account), check out more of our personal finance posts.