Best Documentaries About Money
Unveiling Financial Insights and Secrets
Documentaries provide us with an insightful look into various aspects of life, making complex subjects more accessible and engaging. One such subject centering around our everyday lives is money – its creation, distribution, manipulation, and the ever-evolving global financial systems. In this article, we will explore some of the best documentaries about money that offer a captivating and informative perspective on this crucial topic.
These documentaries showcase monetary policies and financial institutions' history, impacts, and intricate workings. They delve into the human stories behind economic crises, revealing the factors contributing to financial collapses and their effects on citizens worldwide. By examining the intricacies of money and its role in society, these films aim to demystify and stimulate conversation around a topic that significantly affects all aspects of our lives.
From understanding the 2008 financial crisis to exploring alternative monetary systems, these best financial documentaries offer varying perspectives on complex financial topics. Regardless of your prior knowledge and interest in the subject, we hope that this list will inspire curiosity and lead to a deeper understanding of our global financial systems.
Money, Explained (2021)
"Money, Explained" is a 2021 Netflix series, breaking down complex concepts about money and finances into easily digestible episodes. The series provides a fascinating look into how money operates in our everyday lives, backed by expert commentary and real-life case studies.
The five-episode series takes on the key themes of credit cards, the stock market, student loans, gambling, and retirement. Each episode uses simple yet engaging language to help viewers understand the mechanisms and the psychology behind these financial topics.
Credit Cards: The show delves into the history of credit cards, their rise in popularity, and how credit card companies make money from interest rates and other fees. Additionally, the documentary reveals ways of using credit cards wisely to maximize benefits without falling victim to massive debt.
Stock Market: This episode covers the basics of stocks and bonds, along with the roles played by central banks and market players. It also emphasizes the importance of long-term investments, market fluctuations, and the rise of exchange-traded funds (ETFs).
Student Loans: The student loan crisis in the United States is examined in this episode. It explores the history of loans, their implications on the economy, and the challenges faced by borrowers in repaying them. Possible solutions, such as income-driven repayment plans and refinancing, are touched upon.
Gambling: Explained sheds light on the allure of gambling, the science of addiction, and the financial and personal consequences that can stem from it. The show also discusses the fine line between investing and gambling in the financial world.
Retirement: The series concludes with a comprehensive analysis of the retirement landscape, featuring the shift from pensions to 401(k) plans and the impact on future generations. It emphasizes the need for financial planning and highlights emerging alternatives, such as reverse mortgages and gig economy options.
Overall, "Money, Explained" is concise and engaging, offering valuable insights for both beginners and seasoned investors. The series enables audiences to make more informed financial decisions, thus proving itself as one of the best documentaries about money.
The Most Important Class You Never Had (2020)
"The Most Important Class You Never Had" is a 2020 documentary shedding light on the lack of personal finance education and its consequences for individuals and society. Directed by Danny DeLeon, the film highlights the importance of personal finance as an essential life skill that is often overlooked in traditional education.
The documentary features interviews with a diverse group of experts, including financial advisors, educators, and psychologists, who provide insights into the challenges faced by people navigating the world of personal finance. These experts emphasize the importance of financial literacy for all people, regardless of their education, age, or socioeconomic background.
Moreover, "The Most Important Class You Never Had" shares inspirational stories of people from various walks of life who have taken control of their financial future despite obstacles and setbacks. These true accounts demonstrate the impact of financial education and the transformative possibilities that come with it.
The film also provides practical tips and strategies for developing a strong foundation in personal finance. The documentary covers topics like budgeting, saving, investing, and preparing for retirement. Additionally, it explores related subjects such as behavioral finance, the psychology of money management, and the role of financial institutions in promoting responsible financial practices among their customers.
In summary, "The Most Important Class You Never Had" is an informative and thought-provoking documentary that highlights the significance of personal finance education and provides actionable advice for viewers to gain control of their financial lives. This documentary serves as a reminder of the importance of investing in oneself and developing a sense of financial competency for personal growth and financial stability.
Why Women Are Quitting Their Side Hustle: Leaving LuLaRoe (2019)
The 2019 documentary Why Women Are Quitting Their Side Hustle: Leaving LuLaRoe provides a comprehensive and unbiased look at the experiences of women involved in the LuLaRoe multi-level marketing (MLM) business.
The company, founded in 2012, specializes in selling women's clothing, particularly leggings, through a network of independent consultants. The documentary highlights the stories of these consultants, focusing on both the positive aspects and the controversial practices within the MLM structure. By diving into the personal experiences of several former consultants, the film sheds light on the challenges, disappointments, and disillusionments they faced.
LuLaRoe's aggressive recruitment tactics are a primary subject of the documentary. The film addresses how many consultants were drawn in with promises of financial independence and flexibility, but they soon faced various setbacks. This includes:
High initial investment: Some consultants paid thousands of dollars for initial inventory, with no guarantee of sales.
Oversaturation: As more consultants joined, they faced increased competition, making it harder to sell products and recoup their investment.
Product quality issues: Numerous complaints arose regarding the quality of LuLaRoe's leggings (i.e., they were easily ripped or torn).
In addition to these challenges, the documentary also explores the disproportionate pressure placed on female consultants. It reveals how many women experienced intense stress trying to balance their duties as consultants, partners, mothers, and employees, only receiving minimal income for their efforts. Furthermore, some even faced negative consequences from prioritizing their side hustle over their families and personal lives.
Despite the hardships, Why Women Are Quitting Their Side Hustle: Leaving LuLaRoe is not a one-sided condemnation of the MLM model. It acknowledges that some women have found success and built strong social connections within the LuLaRoe community. Overall, it offers viewers a nuanced and well-rounded perspective on the MLM world, empowering them to draw their own conclusions about the legitimacy and ethics of businesses like LuLaRoe.
97% Owned (2012)
"97% Owned" is a compelling and informative documentary that dives deep into the subject of money and its often-overlooked origin. Released in 2012 and directed by Peter Joseph, the film sheds light on the role of commercial banks in creating money and their subsequent impact on society.
One of the top finance documentaries it explains that commercial banks create 97% of the money supply through the process of debt-based loans. This has significant implications, as the relentless pursuit of profit by these banks often results in financial instability and income inequality. The film suggests that this modern monetary system is built on an inherently flawed foundation which inherently leads to issues such as unsustainable debt levels and widening wealth gaps.
Featuring interviews with economists, academics, and financial experts, "97% Owned" presents detailed research and analysis on the money creation process and its effects on society. The documentary breaks down complex concepts into understandable segments, making it accessible to viewers with diverse financial knowledge.
Some key points discussed in the film include:
The process of money creation by commercial banks
The role of central banks in regulating the money supply
The effects of the current monetary system on income inequality and financial instability
Alternative approaches to money creation and distribution
"97% Owned" serves as a timely and eye-opening examination of the modern monetary system, encouraging viewers to rethink their understanding of money and its influence on society. This documentary is a valuable resource for those interested in learning about the complexities of money and the need for a more sustainable and equitable economic system.
👉 Watch 97% Owned on Amazon Prime
The Minimalists: Less Is Now (2021)
"The Minimalists: Less Is Now" is a thought-provoking documentary that was released in 2021. It features Joshua Fields Millburn and Ryan Nicodemus, known as "The Minimalists," as they share their perspective on the importance of living with less material possessions in order to achieve financial stability and personal fulfillment.
Documentaries about wealth demonstrate how consumerism and the constant pursuit of material belongings can lead to financial stress and a never-ending cycle of debt. It suggests that by adopting a minimalist lifestyle, individuals can regain control over their finances, reduce their debt, and focus on the things that truly matter in life.
Through various interviews with experts and personal anecdotes from the Minimalists themselves, the documentary emphasizes the value of a minimalist lifestyle in attaining financial freedom. Viewers are presented with tips and strategies on decluttering their lives, eliminating unnecessary expenses, and prioritizing their financial goals.
One of the best documentaries on money, it also delves into the psychological aspect of consumerism and the emotional attachment we develop with our possessions. By letting go of these attachments and adopting a more conscious approach to spending, individuals can improve their financial situation and experience increased satisfaction and happiness in their lives.
In summary, "The Minimalists: Less Is Now" provides an insightful look into the world of minimalism and its potential benefits in achieving financial stability, personal growth, and a higher quality of life. While it does not claim to be a one-size-fits-all solution, the documentary encourages viewers to consider the value of a minimalist lifestyle and how it might contribute to their own financial and emotional wellbeing.
Broke (2012)
Broke is a powerful documentary released in 2012 that focuses on the financial struggles faced by many professional athletes. Directed by Billy Corben, the film offers insight into the reasons why a staggering number of former athletes end up in financial ruin despite earning millions of dollars during their careers.
The documentary showcases interviews with several former athletes who share their experiences and financial mistakes, providing viewers with a real-world look at the challenges faced by these high-earning individuals. A few of the main issues explored in the film include mismanagement of funds, lavish spending habits, and the impact of short career spans.
One of the key takeaways from Broke is the lack of financial education and guidance provided to professional athletes. Many enter the world of professional sports without any prior experience managing significant sums of money, which can lead to disastrous decisions. The film emphasizes the importance of seeking professional financial advice and being proactive in managing one's finances.
In addition to the personal stories shared by the athletes, Broke also delves into the role played by various external factors and entities in contributing to these financial disasters. This includes factors such as predatory financial advisors, overzealous spending by family members and friends, and the pressure to maintain ostentatious lifestyles.
Broke serves as an eye-opening exploration of the financial challenges athletes face and offers a cautionary tale for those entering the world of professional sports. By shedding light on the pitfalls of sudden wealth and the necessity for financial education, the documentary aims to inspire change and prevent future athletes from falling into the same financial traps.
Inside Job (2010)
"Inside Job" is a comprehensive documentary directed by Charles Ferguson. It offers a closer look at the 2008 global financial crisis, revealing the causes and consequences that led to the worst economic downturn since the Great Depression. The film doesn't shy away from presenting an in-depth analysis of the events and players that contributed to the crisis, while remaining unbiased and easy to follow for the everyday viewer.
The documentary examines the intricate relationships between the financial industry, politicians, and regulators. It explores how the deregulation of the financial sector, the rise of risky financial products, and the failure of regulatory oversight allowed for the creation of a housing bubble that ultimately burst. Using interviews with key players, it paints a picture of a compromised system plagued by conflicts of interest, greed, and corruption.
As the film progresses, the stories of those who lost their homes and savings in the crisis are woven into the narrative. This serves as a reminder of the real impact that the collapse had on ordinary people's lives. "Inside Job" is unafraid to name and question the individuals and organizations responsible, making it an essential watch for those interested in understanding the financial world and the lessons that can be learned from its past mistakes.
Its high-quality production, engaging visuals, and clear explanations make "Inside Job" both informative and accessible for audiences with varying levels of financial knowledge. By examining this harrowing period in recent history, it acts as a cautionary tale for future generations, reminding us of the importance of transparency, accountability, and proper regulation in our financial systems.
👉 Watch Inside Job on Amazon Prime
👉 Buy Inside Job as DVD on Amazon
The Ascent of Money (2008)
The Ascent of Money is a 2008 documentary based on British historian Niall Ferguson's book of the same name. The film provides a comprehensive history of the world's financial system, exploring how money has shaped human society over the centuries.
In the documentary, Ferguson delves into the origins of modern finance, examining how innovations in banking and finance, such as the creation of money and credit, have played a crucial role in human history. The film also addresses the importance of financial institutions, the rise and fall of empires, and the impact of financial crises on societal progress.
One of the key takeaways from the film is the idea that financial history should not be viewed separately from general history. The documentary shows how events like wars, revolutions, and economic booms have been influenced by the flow of money, making the argument that understanding the history of finance is essential to making sense of the world today.
Throughout The Ascent of Money, the viewer gains unique insights into the global financial system and the influential figures who have played a significant role in its development. Ferguson's measured and engaging storytelling makes this documentary a must-watch for those interested in the complex relationship between money and the progression of human civilization.
Maxed Out (2006)
"Maxed Out" is a 2006 documentary directed by James Scurlock that explores the United States' credit crisis and its impact on individuals, businesses, and the global economy. The film sheds light on the ways in which the credit industry lures consumers into a never-ending cycle of debt, often with devastating consequences.
The documentary features interviews with experts, borrowers, and policy-makers providing diverse perspectives on the problem. For instance, Elizabeth Warren, former chair of the Congressional Oversight Panel and now a US Senator, shares her insights on the credit industry's practices and how they lead to increasing consumer debt. Additionally, the film showcases stories of borrowers who have experienced the negative effects of mounting debt.
Throughout "Maxed Out," viewers are introduced to several alarming facts and statistics that demonstrate the severity of the debt problem. For example, it reveals the startling reality that the average American household carries around $9,000 in credit card debt, which is a significant increase compared to previous decades.
By examining the practices of credit card companies and predatory lenders, "Maxed Out" exposes how these institutions entice borrowers with easy access to credit, even when consumers are unable to afford additional debt. The film highlights the use of high interest rates, hidden fees, and other tactics that contribute to the ballooning levels of consumer debt.
In conclusion, "Maxed Out" is a thought-provoking documentary that delves into the complexities of the American credit crisis and the underlying factors that contribute to it. Through its insightful interviews and compelling stories, the film encourages viewers to rethink their own relationship with debt and ask critical questions about the role of both credit institutions and individual consumers in perpetuating this challenging situation.
👉 Watch Maxed Out on Amazon Prime
👉 Buy Maxed Out as DVD on Amazon
Freakonomics (2010)
Freakonomics is a compelling documentary based on the best-selling book by economist Steven Levitt and journalist Stephen Dubner. The film explores the hidden side of various aspects of human behavior, including the relationship between money and various societal factors. It comprises four distinct segments, each directed by a different filmmaker, providing a diverse and engaging perspective on the subject.
In the first segment, titled "A Roshanda by Any Other Name," the documentary explores the connection between a person's name and their socioeconomic status. It examines how names often reflect their parents' aspirations for their children, as well as prejudices and expectations within society. This section invites viewers to question the role of money in shaping one's identity.
The second segment, "Pure Corruption," delves into the world of Sumo wrestling to reveal the often-hidden corruption practices in the sport. By showcasing the financial motives behind match-fixing and the potential rewards for both the winning and losing participants, the documentary shows how financial influence can taint even the most time-honored cultural traditions.
In "It's Not Always a Wonderful Life," the documentary examines the controversial idea of legalized abortion leading to a decrease in crime rates. Utilizing statistical analysis, it highlights the importance of economic factors in unexpected areas, such as crime prevention, and demonstrates the complexities that arise when money intersects with moral and ethical concerns.
The final segment, "Can You Bribe a 9th Grader to Succeed," presents an insightful case study of an experiment conducted in a Chicago high school. The school offers cash incentives to students who enhance their grades, attend school regularly, and demonstrate good behavior. It presents a fascinating look at how financial incentives can motivate individuals to change their behavior and achieve success.
The film Freakonomics presents thought-provoking insights into the world of economics in less conventional settings. By shedding light on various areas where money influences human behavior, the documentary encourages viewers to examine and question the role of economic incentives in our society.
👉 Watch Freakonomics on Amazon Prime
👉 Buy Freakonomics as DVD on Amazon
Thinking Money: The Psychology Behind Our Best and Worst Financial Decisions (2014)
"Thinking Money: The Psychology Behind Our Best and Worst Financial Decisions" is a fascinating documentary that delves into the complicated world of personal finance and human behavior. The film, which was released in 2014, explores the psychological factors that influence our financial choices and sheds light on why we sometimes make poor decisions with our money.
One of the key takeaways from this documentary is the role of emotions in our financial decision-making process. The film highlights how cognitive biases, such as overconfidence and loss aversion, can lead us to make less-than-optimal choices when it comes to managing our personal finances. By examining these biases, the documentary helps viewers better understand the driving forces behind their financial choices and the importance of acknowledging our emotional tendencies.
Another intriguing aspect of the documentary is the exploration of behavioral economics, a field of study that combines psychology and economics to understand why we often make poor decisions when it comes to money. The film interviews renowned behavioral economists, such as Daniel Kahneman and Richard Thaler, who provide valuable insights into the human mind and its impact on our financial lives. These expert contributions deepen our understanding of the complexities of financial decision-making and demonstrate how our psychological tendencies can influence our financial well-being.
To further illustrate the significance of psychology in our financial lives, the documentary includes real-life stories of individuals who have experienced financial hardships due to their emotional decision-making. These personal narratives not only bring the concepts to life but also serve as cautionary tales for viewers, illustrating the potential consequences of making financial decisions based on emotions rather than rational thinking.
In summary, "Thinking Money: The Psychology Behind Our Best and Worst Financial Decisions" is an enlightening and educational documentary that offers valuable insights into the psychological factors that shape our financial choices. By drawing on expert knowledge and real-life examples, the film provides a comprehensive understanding of the complex relationship between human behavior and personal finance, making it an essential watch for those interested in improving their financial decision-making skills.
Dirty Money (2018)
"Dirty Money" is a six-part Netflix original documentary series that explores various stories related to money, corruption, and scandal in the world of finance. The series, created by Alex Gibney, provides an insightful and critical look at the shadowy aspects of money and power in modern society.
The first episode, titled "Hard Nox," delves into the Volkswagen diesel emissions scandal. It uncovers the unethical practices and attempts to manipulate the public and regulators by using emission-cheating software in their diesel engines. It further explains the impact on the environment and the consequences faced by the company.
In the second installment, "Payday," the documentary focuses on the predatory practices of the payday loan industry. It showcases the devastating impact of high-interest loans on the lives of borrowers, many of whom find themselves trapped in a cycle of debt. The episode also highlights the controversial figure, Scott Tucker, and his rise in the world of payday lending.
Episode three, "Drug Short," exposes the unscrupulous practices of Valeant Pharmaceuticals, which focused on acquiring old drugs and jacking up their prices to astronomical levels. This episode talks about the detrimental effects these practices have on patients in desperate need of life-saving medications and the investors who fuel these companies.
"Cartel Bank" is the fourth episode which investigates the role HSBC bank played in laundering billions of dollars for drug cartels, terrorists, and sanctioned nations like Iran. It raises questions about accountability and the priorities of financial institutions when dealing with multiple clients.
The fifth episode, titled "The Maple Syrup Heist," delves into the bizarre world of Quebec's maple syrup industry, which operates as a government-sanctioned cartel. The episode unravels the story of a massive maple syrup heist in Canada, revealing the darker side of this sweet commodity.
Finally, the sixth episode, "The Confidence Man," examines the questionable business practices of former President Donald Trump before his tenure in the White House. The episode delves into irregularities surrounding Trump's real estate deals, bankruptcies, and the defunct Trump University.
Each episode of "Dirty Money" presents different stories, shedding light on intricate webs of greed, deception, and corruption surrounding money in various industries.
30 For 30: Broke (2012)
"30 For 30: Broke" (2012) is a captivating documentary that delves into the financial struggles faced by professional athletes. Directed by Billy Corben, this documentary is part of ESPN's highly regarded "30 for 30" series. Through a series of interviews with various sports personalities, the film explores the reasons behind the overwhelming financial problems that have plagued many retired and even active athletes.
The documentary highlights several critical factors that contribute to the athletes' financial woes, such as poor financial management, excessive spending habits, and lack of financial education. Furthermore, it emphasizes the vulnerability of athletes to fraud due to their high net worth and lack of knowledge about financial matters.
The stories shared by prominent athletes such as Bernie Kosar, Andre Rison, and Leon Searcy, among others, bring real-world examples to the viewers. In addition to discussing their experiences, these athletes also offer advice on how to avoid similar situations for future generations. The documentary also taps into the perspective of financial experts and sports agents who provide valuable insights on the subject.
"30 For 30: Broke" effectively conveys the gravity of the issue and emphasizes the importance of financial literacy for professional athletes. The documentary serves as a cautionary tale for aspiring athletes and a reminder for the general public about the pitfalls of sudden wealth.
The Commanding Heights (2002)
The Commanding Heights is a three-part documentary series released in 2002, adapted from the book "The Commanding Heights: The Battle for the World Economy" by Daniel Yergin and Joseph Stanislaw. The documentary chronicles the rise of free market capitalism and the transformation of the global economy throughout the 20th century.
The first episode, "The Battle of Ideas," examines the competing economic theories of John Maynard Keynes and Friedrich Hayek. The episode explores the role of government intervention in the economy during the Great Depression and the post-World War II era. Keynesian economics, which advocates for government spending to stimulate economic growth, initially emerged as the dominant theory. However, the economic crises of the 1970s brought forth Hayek's ideas, emphasizing the importance of free markets and limited government intervention.
In the second episode, "The Agony of Reform," the series delves into the efforts of various countries to adopt market-oriented economic policies. Some of these policies led to short-term pain and social unrest, as inflation soared and unemployment rates increased. The documentary highlights the experiences of countries such as the United Kingdom under Margaret Thatcher, Chile under Augusto Pinochet, and Russia during its transition from communist rule in the 1990s.
The final episode, "The New Rules of the Game," focuses on the challenges and opportunities presented by globalization and emerging markets. It discusses the origins of the World Trade Organization (WTO) and the impact of opening up international trade. Furthermore, the episode analyzes the 1997 Asian financial crisis, demonstrating the vulnerabilities of interconnected global markets and the need for financial regulation.
Throughout The Commanding Heights, the documentary presents a balanced view of the economic theories, policies, and events that have shaped our world since the early 20th century. It manages to engage the audience by combining expert interviews, historical footage, and engaging storytelling, making it an essential watch for those interested in understanding the development and progression of global economic systems.
Explained (2018)
"Explained" is a documentary series produced by Vox Media and Netflix, which delves into various topics, including money. The series aims to provide a concise and clear understanding of complex subjects. In this section, we'll focus on the episodes that discuss money-related topics.
One of the episodes, titled "Cryptocurrency," explains the evolution of digital currencies like Bitcoin. It explores the decentralized nature of cryptocurrencies, as well as their potential applications, drawbacks, and the technology that powers them - blockchain. This episode offers a balanced view of the opportunities and challenges that come with the adoption of cryptocurrencies.
Another noteworthy episode is "The Stock Market." This episode breaks down the complexities of the stock market, explaining its history, the role of investors, and how stock prices are determined. Additionally, it covers the insights of prominent economists and their theories on market behavior. This episode helps novices grasp the intricate nature of the stock market and serves as a solid foundation for further exploration.
In the episode "The Racial Wealth Gap," the series addresses the disparities in wealth between different racial and ethnic groups in the United States. It delves into historical factors, such as slavery, segregation, and discriminatory policies that have led to this divide. The episode also discusses ongoing systemic issues and potential solutions to reduce the racial wealth gap.
While "Explained" covers a wide range of subjects, its episodes on money-related topics prove to be informative, engaging, and easy to understand. The series successfully simplifies complex concepts without sacrificing depth, making it an excellent resource for those looking to learn more about the world of finance.
Conclusion
Investing time in watching documentaries about money can provide valuable insights and broaden one's understanding of financial systems. These outstanding documentaries can serve as a starting point for individuals interested in exploring this subject. By understanding the development of money, viewers can better comprehend the dynamics of contemporary financial markets.
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