Like a lot of you, I grew up watching It’s a Great Life on tv each vacation season. Frank Capra’s beloved movie was a comforting a part of our vacation custom, usually enjoying within the background whereas my household wrapped presents, cooked, or in any other case made merry.
Though the movie was made in 1946, its classes about cash, energy, and neighborhood appear remarkably related (and extra poignant than ever) in 2025. Regardless of the passage of practically 80 years, Individuals are nonetheless dealing with most of the identical points that the residents of Bedford Falls handled.
Rewatching George Bailey regain his hope can provide us a contemporary blueprint for dealing with these timeless financial woes.
Spend money on one another
As a small little one, I used to be fascinated by the bank run scene that happens simply as George (Jimmy Stewart) and his spouse Mary (Donna Reed) are leaving city for his or her honeymoon. The residents of Bedford Falls get spooked that George’s Constructing & Mortgage might fail, and they also present as much as withdraw their cash.
This scene was how I discovered what a bank run is—and in addition how banks deal with our cash. As a result of George provides a masterclass description of how his enterprise works. He tells the frightened prospects the next:
You’re pondering of this place all mistaken, as if I had the cash again in a protected. The cash’s not right here. Properly, your cash’s in Joe’s home—that’s proper subsequent to yours—and within the Kennedy home and Mrs. Maitland’s home and 100 others. You’re lending them the cash to construct, after which they’re going to pay it again to you as greatest they will. Now, what are you going to do, foreclose on them?
This scene helped me perceive that cash deposited in a financial institution doesn’t (all) keep there. The financial institution lends it out so the cash can develop.
However there’s extra to this scene than simply how banking works. As a result of George Bailey doesn’t run a financial institution—he runs a Constructing & Mortgage. Building & loan associations had been cooperative mutual support organizations that gave members borrowing privileges and dividend rights. These associations made dwelling possession accessible when mortgages were more difficult to get. As a result of constructing & mortgage associations had been cooperative, they needed to depend on their members’ belief and funding in one another to remain afloat.
That’s why George ends this scene with this plea to his prospects: Now, we are able to get by way of this factor all proper. We’ve bought to stay collectively, although. We’ve bought to place confidence in one another.
Learn how to apply this lesson in 2025
Constructing & mortgage associations largely went defunct not lengthy after It’s a Great Life got here out, whereas financial savings & mortgage organizations, which work in an identical approach, have been skinny on the bottom for the reason that S&L crisis of the 1980s. This makes it just a little harder to supply financial solidarity to our pals and neighbors the way in which the individuals of Bedford Falls can do by way of Bailey Brothers’ Constructing & Mortgage.
However there are a lot of different methods to spend money on one another and in our communities, George Bailey-style. Think about the next:
- Store regionally
- Think about opening an account with a neighborhood financial institution or credit score union
- Attend concert events, gala’s, video games, and so on.
- Sponsor native youth sports activities groups
- Volunteer
- Go to your library (possibly you’ll see alternate-universe Mary!)
- Supply to assist your neighbors
- Arrange a little free library in your yard
- Be part of your neighborhood Buy Nothing group
Know your price
At George’s lowest level, his Uncle Billy has misplaced the Constructing & Mortgage’s $8,000 money financial institution deposit (roughly $133,000 in 2025 {dollars}). The lack of this cash will destroy the enterprise and will result in George’s arrest.
In desperation, George appeals to the movie’s villain, Henry Potter, for a mortgage, utilizing his life insurance coverage for collateral. Mr. Potter scoffs at George’s request and tells him this:
Have a look at you. A depressing little clerk crawling in right here in your fingers and knees and begging for assist. No securities, no shares, no bonds, nothin’ however a depressing little $500 fairness in a life insurance coverage coverage. You’re price extra lifeless than alive!
This merciless remark prompts George to contemplate suicide. He stands on a bridge, pondering that his household can be higher off if he jumped, as a result of not less than he can be price more cash.
It takes the intervention of Angel, Second Class, Clarence Odbody to persuade George that there’s much more to his life than cash. Whereas It’s a Great Life makes it clear that George does know his price is larger than cash beneath regular circumstances, he can’t fairly recall that when he’s so confused, overwhelmed, and sad after his determined interview with Mr. Potter.
Learn how to apply this lesson in 2025
Contemplating the variety of modifications to advantages resembling SNAP, Social Security disability insurance, and federal student loans, many trendy viewers can most likely relate to George’s emotions in Mr. Potter’s workplace. We, too, might really feel as if we have to present that we’re worthy by offering a stability sheet of all our securities, shares, and bonds. In any other case, we’re being advised we’re not price feeding, supporting, or educating.
Sadly, the collective motion obligatory to make sure these advantages stay accessible is gradual work. However realizing that you’re worthwhile could be a lot sooner. You don’t have to attend round in your private Clarence to inform you so.
Do not forget that the cash that Mr. Potter and his ilk place a lot emphasis on doesn’t really exist. However your price does. And similar to George makes an unlimited distinction in his world, you make an unlimited distinction in yours. Whereas cash is simply an concept all of us share.
Have persistence
Though it’s a fantastically written, completely forged movie, It’s a Great Life flopped on the field workplace in 1946, earlier than slipping into obscurity. Then, in a clerical error worthy of Uncle Billy, somebody uncared for to resume its copyright safety in 1974, which meant the movie lapsed into public domain.
Nobody anticipated what occurred subsequent.
Tv stations started exhibiting Capra’s movie through the Christmas season all through the Seventies and Nineteen Eighties. It was a free programming possibility when TV stations couldn’t afford to placed on costly vacation exhibits. And the once-obscure story of one banker’s life in a small town grew to become essentially the most beloved yuletide film custom of all time.
Learn how to apply this lesson in 2025
I’m a sucker for art that takes a long time to search out its viewers. As a result of typically works of genius merely aren’t appreciated till lengthy after they’re launched. Frank Capra created a masterpiece, despite the fact that it wasn’t instantly acknowledged as such. He did all the things in his energy to create a unbelievable film—and what occurred subsequent was out of his fingers.
That is one thing I personally have to remind myself of. The work I do right this moment might not bear fruit tomorrow or subsequent week or 10 years from now. However that doesn’t make my actions meaningless nor does it imply my work won’t ever lead to optimistic change. It simply means I don’t know what’s going to occur, I ought to train some persistence, and I ought to place confidence in the method.
Do your greatest work right this moment, no matter that work could also be, and have the persistence to just accept that it’ll make its mark when the time is true. It’s what George would do.
Serving to angels get their wings
If you happen to’re a sobbing mess by the point George finds Zuzu’s petals in his pocket, you’re not alone. And that’s the complete level. It’s a Great Life reminds us that we’re not alone.
We’re stronger collectively, however we should spend money on one another to make sure that we preserve that energy. We’re all worthy, however should reject any pondering that reduces our price to our financial institution stability (or some other quantity). And what we do makes a distinction, however we have now to have persistence that the change will come, however not essentially when or how we count on.
