15 Money Mistakes Popular Sit-Coms Taught Us to Avoid

Sitcoms are designed to help us escape our troubles and everyday lives. But sometimes you can learn a thing or two, even while you’re laughing. That’s why we compiled the top money mistakes from some of the most popular shows.

Read below for the top 15 money mistakes from sitcoms from the '50s to '90s — and what you can learn.

Mistake: Everyone knows Lucy Ricardo could be forgetful — and that was never more true than in a season 4 episode when Lucy and Ricky end up hiring a business manager because Lucy falls behind on her bookkeeping.

Lesson: Sometimes it helps to have an outside party help you manage your finances. These alternative options can be particularly helpful if you understand that managing money stresses you out.

Mistake: In a classic episode, Sheriff Taylor is upset when he sees how little his son Opie gives to charity. But when he presses him, he discovers that Opie is actually saving his allowance to buy his friend a coat.

Lesson: If you plan to give your kids an allowance, the whole point is letting them manage their own money. That includes how much they keep for themselves  — or give to charity. What’s more important is setting a good example yourself.

Mistake: In one episode of the seminal sitcom, Beaver gets $1.75 from his parents to pay for a haircut. However, he keeps losing the money — and ends up getting a homemade haircut from his older brother Wally. 

Lesson: It’s not uncommon for a child to lose something, even money. Kids should start to learn how to handle money from a young age, and maybe parents shouldn’t always bail them out  — just to teach them personal responsibility.

Mistakes: In one episode, Ann — a struggling actress — discovers that she owes the IRS back taxes. She has a hard time trying to find proof of her deductions and expenses.

Lesson: Tracking your deductions and expenses as a creative — or any other type of freelancer or contractor — can be tricky. Thankfully there are so many tracking tools nowadays that make it easier to note your deductions. You can also set a reminder in your calendar to track your deductions on a regular basis so it’s less overwhelming at tax time.

Mistake: Throughout the show, Samantha doesn’t understand why Darrin cares so much about saving money. It’s hard to blame Samantha for not caring or knowing how finances work when she’s an all-powerful witch. 

Lesson: Couples should have honest discussions about finances, even if one person is managing the bulk of the money — or is a witch.

Mistake: Jan orders an engraved silver plate for her parents’ anniversary. When she goes to the custom engraver, he tells her it will cost 85 cents. She doesn’t realize he means 85 cents per letter - not total.  She gets a big surprise when he hands her the final bill.

Lesson: No matter what, it’s always crucial to confirm the total cost if you don’t see an upfront price. Otherwise, you could end up owing way more than you might have anticipated.

Mistake: In one episode, Arthur tells Walter to buy stock in a particular company. But when the stock drops, Walter discovers that Arthur didn’t put his own money in it.

Lesson: Taking investment advice from a friend is always tricky. If you lose money, you also risk losing your friendship — or at least straining it. Always do your own research and don’t let peer pressure force you to make an unwise decision.

Mistake: In an episode of the classic family sitcom, Keith and Danny get financial advice from a “psychic,” who’s actually a struggling business owner trying to scrounge up enough money to save his bakery.

Lesson: Before you trust anyone for investment advice, you should check their credentials. Look them up on BrokerCheck to see if they have had any adverse actions taken against them. Read any reviews you can find and ask if they’re a fiduciary. And, in general, beware of anyone who claims they can help you get rich quick.

Mistake: In one episode, Rhoda asks Mary for a loan to open a plant store. Mary instantly agrees, but problems arise when Rhoda takes longer to pay her back than promised. Mary starts to worry that Rhoda has forgotten about the loan, but she eventually pays her back in full and even with interest. 

Lesson:  Lending money to friends is always hard, so you should only do it under two conditions: you stipulate a specific repayment plan and you don’t butt in unless they miss a payment.

Mistake: In one episode, Roseanne explains to her husband, Dan, how she pays the bills late, or uses excuses like forgetting to include the check with the bill stub.

Lesson: While Roseanne’s strategy seems to work for her at the moment, it’s an easy way to rack up overdue bills and late fees in the real world. If you’re having trouble paying bills, calling the company that you owe money to can help. You can also call 211 to see if you qualify for special programs for low-income families.

Mistake: In season 2, episode 17, Suzanne Sugarbaker discovers that her accountant has stolen all her money — and that she owes the IRS three years' of back taxes.

Lesson: Even if you hire an accountant or financial planner, you should still know what’s happening with your money. And never sign a blank check — no matter how trustworthy that person seems.

Mistake: Before a big date, Blanche buys a brand-new $300 dress (about $875 in today’s money) that she can’t afford. She keeps the price tags and plans to return it later. But when the dress gets stained, Blanche realizes she can’t return it — and is out the $300.

Lesson: It can be tempting to buy something out of your price range if you think you can return it. However, you should always consider the consequences if you can’t.

Mistake: When George and Jerry meet with NBC to sell their pilot, George insists on asking for more money. But he gets too greedy — and loses the deal entirely. He ends up groveling and getting them to agree — for a price less than the initial offer.

Lesson: It’s always good to know your worth and negotiate, but sometimes you can go too far and lose the deal.

Mistake: When KACL Radio decides to suspend annual employee raises, Roz and the rest of the workers revolt. Roz tells Frasier that she’s already spent her bonus on a new pair of diamond earrings. While the employees eventually get a partial raise, it’s still less than what was promised. 

Lesson: It’s never a good idea to assume your company will provide the same raise or bonus as they did before. Things can change quickly, so you should always wait until the money is in your bank account before spending it.

Mistake: When it comes to fashion mavens, Fran Fine from “The Nanny” is one of the best examples. And she should be — in one episode she’s seen complaining about not having any money — before turning around and asking Niles what he thinks about her new outfit.

Lesson: The takeaway here is to always save money for your future self before indulging today. Try to stash between 10% and 15% of your salary — before splurging on a new outfit.

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