“No man is poor who can do what he likes to do once in a while.” – Uncle Scrooge McDuck
Scrooge McDuck and Money is a short animated cartoon made by Walt Disney Productions and released on March 23, 1967. It is Scrooge McDuck’s first animated appearance, apart from a brief cameo appearance on the Mickey Mouse Club television series. It was also one of the first cartoons that the studio released after Walt Disney’s death.
Growing up, I never would have thought that Scrooge McDuck would be a good role model. His complaining nature didn’t seem much appealing; he just seemed greedy and mean. While it looks like Scrooge is sitting idly by on his money, his wealth is actually circulating in the economy and growing. His giant pile of money shows great financial discipline, here are 5 wealth lessons from Scrooge McDuck we can learn and implement.
Opening to 7:15
History of Money
Huey, Dewie, and Louie visit Scrooge McDuck and request that he help them save the money they had earned. Scrooge goes through the history of money and discusses the role of salt as the original salary that Roman soldiers received. He then goes on to describe money from other societies and why money was important following original barter economies. The characters even discuss the role of money as a medium of exchange!
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7:15 to 9:59
After learning of the importance of money in the economy, the brothers question why central banks don’t just print more money if everyone wants it. Uncle Scrooge discusses the role of fiat money and why it’s important for the money to be backed by something or someone who can promise to pay the notes that are printed.
10:00 to 13:20
Financial Planning and Taxes
Uncle Scrooge teaches the brothers about the importance of budgeting. People need to make sure that they allocate a portion of their income toward rent, food, and other necessities. He also teaches them about the role of taxes and how important it is for governments to have a budget and make sure that they collect taxes to pay debt.
13:20 to End
Velocity of Money & Investment
The boys are curious why Scrooge keeps so much money in his vault if he tells them that it’s important to put money “to work.” He teaches them that the money in his vault is just his petty cash and then goes on to discuss the importance of money circulating through the economy. The ending portion discusses the role of corporations issuing stocks and shareholders collecting dividends. At the end, he signs the boys up to manage their funds but charges them a fee. The boys aren’t happy, but he laments that “nothing is ever free.”
Bottom Line. Fictional characters can teach valuable lessons in life, such as morale character and finances. The only place that success comes before work is in the dictionary. Working, saving, and investing is the true path to wealth and success. Hope you find 5 wealth lessons from Scrooge McDuck interesting.