Financial Advisors React To Crazy Money Scenes From TV Shows

Summary

Money Guy Show: Episode Summary

Title: Financial Advisors React To Crazy Money Scenes From TV Shows
Hosts: Brian Preston and Bo Hanson
Release Date: July 28, 2025

In this engaging episode of Money Guy Show, hosts Brian Preston and Bo Hanson delve into the often exaggerated yet insightful portrayals of financial management in popular TV shows. Through a series of humorous and educational reactions to selected clips, they unpack common financial pitfalls and offer actionable advice to help listeners build and maintain their wealth effectively.

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1. The Perils of Mismanaged Budgets

Timestamp: [00:00] – [02:05]

The episode kicks off with the hosts reviewing a TV clip that showcases a character's flawed budgeting practices. Bo Hanson expresses excitement about analyzing the content, highlighting the prevalence of poor financial planning in storytelling.

• Bo Hanson: "If you don't have a plan for your money, you're going to set yourself up for failure." ([00:08])

They dissect the budget breakdown depicted in the clip:

• Green Bar: Essential expenses (e.g., car, house)
• Red Bar: Non-essential expenses (e.g., magazines, entertainment)
• Black Bar: Unnecessary expenditures (e.g., multiple magic sets, professional bass fishing equipment)

Bo humorously criticizes the undefined "miscellaneous" category, emphasizing the importance of clear and purposeful budgeting to ensure financial stability.

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2. The Myth of Business Write-Offs

Timestamp: [02:34] – [04:53]

Brian Preston and Bo Hanson transition to a scene featuring Michael Scott (misidentified humorously as Michael J. Fox), who attempts to justify personal purchases as business write-offs. This segment serves as a cautionary tale against exploiting tax deductions irresponsibly.

• Bo Hanson: "I purchase skincare products. Okay, I am the face of the company. If I have acne, what does that say about the legitimacy of the store?" ([02:47])

Brian elaborates on the complexities of tax deductions:

• Brian Preston: "Everything's deductible until you get caught." ([03:53])

The hosts stress the importance of authentic business expenses and maintaining proper documentation to avoid legal repercussions. They humorously warn listeners about the dire consequences of improper write-offs, such as facing the IRS with questionable purchases.

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3. The Dangers of Relying on Inheritance and Bad Investments

Timestamp: [05:07] – [07:31]

The discussion shifts to a clip involving an inheritance scenario and poor investment choices, such as holding Blockbuster stock—a nod to outdated business models.

• Brian Preston: "Create a plan. Find your own money. Build your own money so that you don't have to worry about the jelly of the month." ([06:15])

Bo Hanson highlights the folly of depending on uncertain financial windfalls:

• Bo Hanson: "People will bank on an inheritance, a bonus, money they think is coming their way, and then it doesn't show up." ([05:49])

The hosts caution against overreliance on questionable investments and underscore the importance of diversified and modern investment strategies to safeguard one's financial future.

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4. Understanding and Maintaining a Healthy Credit Score

Timestamp: [07:31] – [08:37]

A humorous yet informative segment addresses the significance of credit scores, sparked by a clip where a character reveals an alarmingly low score.

• Bo Hanson: "Don't be rolling around with a 250 credit score." ([08:05])

Brian connects good credit scores to broader life benefits beyond just borrowing money:

• Brian Preston: "If you care about investing in your future, you already know it's not just about finances. It's about your health, your time, and how you show up for the people who count on you." ([08:37])

They emphasize responsible credit use as a cornerstone of financial health, explaining how it impacts various aspects of life, including insurance premiums and access to services like cell phone plans.

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5. The Pitfalls of Hidden Wealth and Poor Asset Management

Timestamp: [10:26] – [13:31]

Reacting to a scene where a character hides money in unconventional places, the hosts discuss the risks associated with poor asset management and lack of transparency.

• Brian Preston: "Be careful where you actually store your wealth." ([12:28])

Bo Hanson shares real-life anecdotes of clients discovering significant amounts of hidden money, reinforcing the necessity of secure and transparent wealth storage solutions. They advise listeners to have clear communication with loved ones about asset locations to prevent chaos and financial loss.

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6. Avoiding Timeshare Traps

Timestamp: [13:31] – [17:17]

The episode culminates with a critique of timeshare sales tactics depicted in a TV scene. Brian and Bo dissect the high-pressure sales environment and the long-term financial obligations that come with timeshare ownership.

• Bo Hanson: "Give yourself a cooling-off period. Don't ever buy something in the presentation at the presentation." ([16:31])

They advise listeners to avoid impulsive decisions during sales pitches and to thoroughly understand the commitments involved in such contracts. The hosts highlight the escalating maintenance costs and the difficulty of exiting timeshare agreements, recommending alternative strategies for vacation planning and investment.

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Key Takeaways

1. Structured Budgeting: Maintain clear categories and avoid vague allocations like "miscellaneous" to ensure financial control and success.
2. Responsible Tax Practices: Only legitimate business expenses should be claimed as write-offs, backed by proper documentation to avoid IRS issues.
3. Diversified Investments: Relying on inheritances or outdated investments like Blockbuster stocks poses significant financial risks.
4. Credit Score Management: A healthy credit score benefits various life aspects beyond borrowing, emphasizing the need for responsible credit usage.
5. Transparent Wealth Storage: Secure and easily accessible asset management prevents financial chaos and ensures smooth wealth transfer.
6. Cautious Decision-Making: High-pressure sales tactics, especially in timeshare agreements, should be approached with skepticism and thorough consideration.

Conclusion

Brian Preston and Bo Hanson effectively blend humor with financial wisdom in this episode, making complex financial concepts accessible and relatable. By analyzing and reacting to exaggerated TV scenarios, they provide valuable lessons that listeners can apply to real-life financial planning and management. Whether it's budgeting, tax deductions, credit scores, or investment strategies, the hosts offer clear, actionable advice to help build a secure and prosperous financial future.

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Note: This summary excludes advertisement segments and non-content sections to focus solely on the informative discussions between the hosts.

Transcript

[Brian Preston]

The content team has been busy. They went and found some of the greatest TV clips that happen to talk about money to see what we thought.

[Bo Hanson]

Brian, I am so excited about this because I'm in the messy middle. I don't get to watch a lot of tv. So I can't wait to see what the content team has put together for us today. Okay, the green bar is what you spend every month on stuff you need, like a car in a house. The red bar is what you spend on non essentials like magazines, entertainment. Right. Things like that. This scary black bar is what you spend on things that no one ever, ever needs, like multiple magic sets, professional bass fishing equipment. How did you do this so Fast? Is this PowerPoint? It's so funny because again, I have literally sat in these conversations. Someone, hey, let's look at your budget. It's so good. They've got, hey, I've got this much for eating out and I've got this much for my gym membership and I have this much for health insurance and I have this much. And it's so well and it's so wonderful. And then I look, I'm like, but hey, what's this category of here? And there's just this category called miscellaneous. And the miscellaneous category is like five times the size of every other category in the budgetary line item. That's not the way that you budget. That's not the way that you actually make sure your dollars are going into the place that, that you want them to go into. If you don't have a plan for your money, you're going to set yourself up for failure.

[Brian Preston]

Well, I mean, we all love a good Michael Scott clip, but you don't want to your manager money like Michael Scott. Holy. Is that real?

[Bo Hanson]

Yeah. They say three year salary.

[Brian Preston]

I do love the idea of using a budget of tracking your expenses so that you actually get to pay yourself first instead of just saving and investing what's left over. Because I think there's a lot of Americans that run it the Michael J. Scott way.

[Bo Hanson]

Huh?

[Brian Preston]

Michael G. Scott.

[Bo Hanson]

You're thinking of Michael J. Fox.

[Brian Preston]

Yeah, you know, they're all related. That's just the way Michael Scott would have done it too.

[Bo Hanson]

What's.

[Brian Preston]

What's this?

[Bo Hanson]

Looks expensive. This is some new bedding. David, did Didn't I just tell you to save your money? Yeah. I am testing this out for the store. So work is paying for it. Work is paying for your bedding. I was gonna leave, but now I don't want to. What is that? Is that a New lamp? Yeah, I'm thinking of bringing homeware into the store. So that's a write off.

[Brian Preston]

Oh, is his business a write off?

[Bo Hanson]

Yeah. Do you even know what a write off is? I. Yeah, it's when you buy something for your business and the government pays you back for it. Oh, and who pays for it? Nobody. You write it off. Who writes it off? I don't know, the government, the write off people. Why are we having this conversation? So if I need booze to get through my day, I can just write that off? That's a stretch. But the skin care products you got this morning, those are a write off. What skin care products? You purchase skincare products. Okay, I am the face of the company. If I have acne, what does that say about the legitimacy of the store? That's not a write off. That's not a write off? This not a write off? Well, the bedding's non refundable, so. David, a write off is a business expense used to reduce your taxable income.

[Brian Preston]

Okay, preach.

[Bo Hanson]

Well, then why isn't it called a tax write off?

[Brian Preston]

It is. It is.

[Bo Hanson]

You can't just buy things for yourself and write them off.

[Brian Preston]

Tell him to stay off social media.

[Bo Hanson]

Well, then I'll return some things. What's so funny is we're all laughing at that. I've literally had this conversation with people. I've literally had people say, oh, all.

[Brian Preston]

You have to do is look at social media and they have all these people telling you you could live your best life and it's all tax deductible and it's a write off. But what nobody ever tells you, first of all, everything's deductible until you get caught. So it really does need to be truly authentic business expenses to even be deductible. And then don't forget, just because it's a legitimate expense, it's not a dollar for dollar. You still have to pay your hard earned cash for something you only get to deduct and take a deduction for whatever your tax rate is.

[Bo Hanson]

That's right.

[Brian Preston]

So people lose that and they lose their mind. They get sick. So excited because they don't want to pay the man anything extra. But then they also stretch the legal part, which is everything's deductible. And I'm. I'm telling you, be careful because one day you might actually be sitting across the table from an IRS agent and having to explain why you bought your lamp, why you bought your sheets and.

[Bo Hanson]

Your skin care product.

[Brian Preston]

And you can, I can tell you it wouldn't be like that. It would be tears, and it would be a very desperate conversation.

[Bo Hanson]

Attention, everyone.

[Brian Preston]

Say goodbye to the Jake Peralta you know and love, for today is the.

[Bo Hanson]

Day I forever change. Ooh, are you finally growing a mustache? No, you know I can't do that. It's cool of you to keep bringing it up. This envelope contains the inheritance my uncle left me.

[Brian Preston]

He died a year ago. He was so rich, he had a whole room in his house just to eat in. You mean like a dining room?

[Bo Hanson]

Yeah, but in Manhattan. Oh, dang.

[Brian Preston]

Now, just because I'm definitely rich now.

[Bo Hanson]

Doesn'T mean I'm gonna forget my roots. You all get something, so fire away. Jake, your friendship is gift enough for me. Friendship is crap.

[Brian Preston]

I want a Ducati monster.

[Bo Hanson]

A 21.

[Brian Preston]

All right.

[Bo Hanson]

Rosa gets a motorcycle.

[Brian Preston]

Oh, cool.

[Bo Hanson]

I want a fast sports car. Come on, you could be honest. I want old, expensive books. I'll send you a list.

[Brian Preston]

There you go. Now let's find out what I'm worth. I'm too nervous to open. It's our judge if I check in.

[Bo Hanson]

Okay. Jolly. The Moth Club. It's stock. 1 million shares.

[Brian Preston]

Oh, my God.

[Bo Hanson]

A Blockbuster Video.

[Brian Preston]

What, is that bad?

[Bo Hanson]

I still have a Blockbuster card. So a few things that one thing we saw right off the bat. Be careful spending money that you do not have yet. A lot of times we'll see people. They'll bank on an inheritance, they'll bank on a bonus, they'll bank on money they think is coming their way, begin to mentally account for how they're going to spend that money. And then the music stops, and the money they thought they were going to have did not show up. So that's one teachable lesson I took away from that.

[Brian Preston]

I feel like we're watching an episode of Vacation. I mean, the movie Vacation is because when you build your dreams off of somebody else's money, there's usually. There's a reason. We use this in movie plots and TV plots. It's so much better, actually. Create a plan. Find your own money. Build your own money so that you don't have to worry about the jelly of the month.

[Bo Hanson]

Another thing that's really great, we see this all the time. Again, this happens a lot of time with grandparents. They'll have a stock certificate that they put in the safe deposit box because they thought it was going to be this wonderful thing that their child was going to want to get. And in this case, it sounds like they might have had all their eggs in the Blockbuster basket. A million shares of Blockbuster stock that we now know the rest of that story ended up going to zero. So be careful putting all your eggs in one basket. And also be careful holding on to, like, stock certificates and the old way to do money. Make sure that you're staying modernized with the times.

[Brian Preston]

And shame on Reed Hastings for changing that.

[Bo Hanson]

Buying a phone's a big deal. I mean, think about how long you'll have this thing. It's like buying a car or a bra. Eight years, man. Hey, sorry. I was just checking your credit score and I got this number that's crazily low. So I'll try again. Don't bother. I'm sure it's right. Seriously? Are you kidding me? 250? You get 150 just for being alive.

[Brian Preston]

Hey, Mohan.

[Bo Hanson]

Got a 250 credit score. I guess the $40 I saved on that gap card didn't pay off. Do you have to pick a box of charity phones you're sending to Africa? Can he just have one of those? Clear.

[Brian Preston]

Brennan, let's get.

[Bo Hanson]

Got a 250 credit score. You're bringing everybody out. 250. Oh, I'm sorry. I've been doing this a long time. I've just never seen a score this low. Did you just wake up from a coma?

[Brian Preston]

I would love if if in the comments let us know the lowest credit score you've ever seen, a friend or a family, because surely if you're watching this content, it's not you. But I don't even know how low they go.

[Bo Hanson]

What I think is wild is a lot of people say, I don't need a credit score, I'm not going to have debt. And you don't realize there are a ton of different areas of your life where a credit score can actually serve as a benefit. You can get lower insurance premiums. In this case, you can go get a cell phone. You be able to qualify to have that sort of plan. Just because you have a credit score, Just because your credit score is good does not mean it's an I love debt score. It means you understand how to responsibly use credit. You understand that it has implications throughout the rest of your life. Don't be rolling around with a 250 credit score.

[Brian Preston]

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[Bo Hanson]

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[Brian Preston]

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[Bo Hanson]

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[Brian Preston]

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[Bo Hanson]

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[Bo Hanson]

So we need to find proof of.

[Brian Preston]

Every tax deduction I've taken in the last five years.

[Bo Hanson]

Ron, most of these aren't even receipts. This one says, I bought supplies 2007. You won't find any bank statements either. I've heavily invested in gold, which I've buried in several different locations around Pawnee. Or have I? Yeah. So it sounds like in this particular clip, Ron was a little bit aggressive on how far into the gray he went on his taxes. And it sounds like the IRS has now told him, hey, sir, we need you to actually substantiate all these claims you've made over the last five.

[Brian Preston]

Well, I mean, think of how many people I think that this is the behavior of the typical American is that they're just like willy nilly with their tax deductions. And then when they get a letter from the irs, it's like, oh my gosh, I better clean up my activity and my behavior. This is why I want you to have a plan before on how you're going to make sure everything you file in your taxes is accurate. And it's actually, you know, how to button down the hatches because you don't want to be on the wrong side of the irs.

[Bo Hanson]

And I would encourage you when it comes to tax documents, make sure you keep your records for at least seven years. In this case, if you would have had buttoned up records that were substantiated, it'd be very easy to prove that to the irs.

[Brian Preston]

Not, you know, sticky, sticky, tv, park, some rec. It's good stuff.

[Bo Hanson]

You know, another thing I thought was super interesting is his investing strategy. No bank accounts, no bank statements. I'm just going to go bury the gold. And I guess whether or not that was print or not depends on what day it was.

[Brian Preston]

He buried that very on brand with the prepper and, you know, making sure, you know, do things a little differently.

[Bo Hanson]

Trying to find some money for the family.

[Brian Preston]

There's always money in a banana stand.

[Bo Hanson]

We don't have the money, Pop.

[Brian Preston]

So there's money in the banana stand. And so Michael, his son, and his brother together enjoyed the cathartic burning of the banana stand.

[Bo Hanson]

There was money in that banana stand. Well, it's all gone Now, Dad.

[Brian Preston]

There's $250,000 lining the walls of the banana stand.

[Bo Hanson]

Why didn't you tell me that?

[Brian Preston]

How much clearer can I say there's.

[Bo Hanson]

Always money in the banana stand. No touching.

[Brian Preston]

This is a funny clip, but no doubt. I actually have had clients that they had older parents that they found out. And, I mean, we got close to six figures of money hidden in curtain rods and closets with enclosed pockets. And if they had not somehow convinced this parent to actually share where they had hidden all this money, think about what a scavenger hunt or a mess that would have left for the survivors. So, guys, be careful where you actually store your wealth. Because a lot of people, and a lot of times it is people from older generations where they don't trust banking institutions. It is one of those things, you got to be just careful that somebody knows where the money actually is.

[Bo Hanson]

And if you are doing something creative with either your storage or your accounting, but make sure you have those conversations with your loved ones so they understand where your assets are and what your ultimate wishes are with those assets. Hey, guys, you here for the presentation? I'm Harris Marder. Save it, bozo. We're here for the free golf club. You got exactly 20 minutes to do your little song and dance. We're just going to tune out, so why don't you give us a wave when you're finished. Or don't.

[Brian Preston]

What's the point?

[Bo Hanson]

I'd just be wasting my time. I mean, obviously you two are smart. 19 minutes and 50 seconds, clown. And don't get me wrong, Invigoron is great, but you got to put in the hours. You fellas strike me more as men of leisure. Obviously. Well, we are. Yeah. I mean, this guy's got the Hawaiian shirt, you with the killer tan. That is killing you guys to be stuck indoors on a beautiful day like today. It is. So less yapping, more golf clubs, please. Yeah, I get it. And you know what? Because you guys are such great sports, I'm gonna throw in a coupon for a free round of golf at the Dusty Dunes Resort in Orlando. You guys been to Florida? Been there.

[Brian Preston]

He's about to get out.

[Bo Hanson]

Not physically. If you want, I can set you up with one of their private villas. Whatever. That's pretty nice. Look at that. Did you know that the average rate for a hotel room 30 years ago was $19? Today it's $237. That's a 1,300% increase. So it's not inconceivable to think that in another 30 years, a week at a hotel runs you 20 grand. That's not inconceivable. That's very, very conceivable. But not for you guys. You'll be locked in at $1,400 annually. Wait, we would be? Yeah, I'm not talking about taking a vacation, guys. I'm talking about owning a vacation. And look, if you're still not comfortable with the numbers, you just double down. You get two weeks, sell that second week, boom, you're vacationing for free. Wait, wait, wait, wait, wait, wait. Mac, I think this guy just bent himself over a barrel a little bit. He did? Yeah. For our pleasure. Follow me here. Okay, so if we buy a second week and we sell that, we're vacationing for free. What happens if we buy a third week and sell that? We're getting paid to vacation, guys. I've actually never thought of it like that. I'm not sure I can make that deal. I'm gonna write in three. Write in three weeks. Three. Here. That's done. Yeah, write down, you got got. You thought we were a bunch of suckers, but guess we're not. We just bought three weeks of a timeshare. That's the way it goes. That's the way the presentation goes. They p something that sounds so good that how on earth could I possibly not absolutely capitalize on this opportunity?

[Brian Preston]

Well, and they also entice you with all the free stuff, all the perks. And you know, I haven't actually been to a lot of timeshares myself, but I grew up in a household where this is how we did vacation.

[Bo Hanson]

That was vacation.

[Brian Preston]

So I got to just as a kid sit in on these things and it is amazing. There's a reason that these things are highly profitable to the people who sell them. They employ, employ some of the most impressive sales agents out there. Like this example showed. Don't just don't get yourself in those type of situations. It's. It's so much better to actually save up pay for your vacation if you're all timeshares are is a way that you're leveraging for future vacations and then usually you're signing on. The part they don't talk about is the obligations for years on those annual maintenance costs that are going up more and more each year. And then good luck on trying to get out of a timeshare contract.

[Bo Hanson]

Here's a little bit of a tip you can do. Give yourself a cooling off period. Don't ever buy something in the presentation at the presentation. If you sit in a presentation, there's an opportunity that you think is so amazing. Give yourself 2, 3, 4 days to cool off to make sure that you actually want to commit to this thing rather than doing it on the spot. Most often when we're faced with large financial decisions in the moment and there's a pressure to go ahead and close the deal, your spidey senses should be gone.

[Brian Preston]

That's a red flag moment, right?

[Bo Hanson]

These were fantastic. I forgot how hilarious all of those shows were. But it just goes to show they would not make these, this would not be created if these things did not actually happen in real life. And we believe there is a better way to do money. So make sure that you don't fall into these same trails.

[Brian Preston]

And guys, hang out with us. You know, we give away tons of free advice. If you go to moneyguy.com resources, we will load you up. So not only are you entertained without getting suckered or snookered into something bad, you actually will learn how to live your great big beautiful tomorrow. I'm your host, Brian Preston, Mr. Bo Hanson. Money got team out. Olivia loves a challenge.

[Bo Hanson]

It's why she lifts heavy weights and likes complicated recipes. But for booking her trip to Paris.

[Brian Preston]

Olivia chose the easy way with Expedia.

[Bo Hanson]

She bundled her flight with a hotel to save more.

[Brian Preston]

Of course, she still climbed all 674.

[Bo Hanson]

Steps to the top of the Eiffel Tower. You were made to take the easy route.

[Brian Preston]

We were made to easily package your trip Expedia Made to travel flight inclusive packages are atoll protected.