I managed to stop at Christmas and do something I don’t really ever do – watch TV, and in true spirit cuddled up to watch ‘A Christmas Carol’ (1984).
Dickens’ classic tale of ghosts, guilt, and redemption is more than just festive nostalgia - it’s a master class in how we think (and sometimes over think) about money. Beneath the snow-dusted cobbled streets and rattling chains, lies one of the most relatable, heart-warming, transformational financial stories ever told. I hope it resonates.
Dickens was holding up a mirror to how we think about money and how those thoughts can shape our happiness, for better or worse.
Scrooge was the textbook miser, hunched over his gold coins while shivering in a freezing house. His obsession with hoarding came from fear, not logic.
Plenty of people, even when financially secure, can get stuck in the mindset of “What if I lose it all?”, clutching their savings like a life raft, afraid to use their wealth for anything, even the basics like comfort or health.
When caution becomes fear-driven, it can turn life into a cold, joyless experience. Wealth should be a safety net, sure - but it should also serve a purpose beyond self-preservation.
The Ghost of Christmas Past reveals why Scrooge clung to his money so tightly. His childhood was marked by emotional pain and loss. That scarcity left a psychological mark, so he grew up believing money was his best shield against future vulnerability.
We all carry emotional marks about money, often without realising it. Maybe we grew up in a home where money was tight, so we still feel anxious, protective or greedy even when we’re doing well. Or maybe our family valued spending was a sign of success, leading to habits that now feel hard to control.
Old emotional habits and scars which served us for that scenario, can keep running the show, long after the circumstances have changed. Scrooge was financially safe - but his mindset hadn’t caught up.
For most of his life, Scrooge viewed money as control - a way to avoid risk, vulnerability, and needing others.
By the end, he learns something powerful: money, when used well, isn’t about control. It’s about enabling a richer, more connected life.
This shift came from a realisation - what’s the point of wealth if it doesn’t contribute to a better life for yourself and others?
For some, that’s security for their family. For others, it’s creating opportunities for the next generation. Money works best when it works for you.
One of the most moving moments in ‘A Christmas Carol’ is when Scrooge helps the Cratchits, showing kindness, and finally connecting with people.
There’s a reason why giving feels good - it connects us to the people and causes we care about. It reminds us that wealth isn’t just numbers on a page; it can create positive moments and memories. It’s about impact, not the price tag.
Could small, thoughtful acts with our money bring more joy than the next big purchase?
How often do we use our wealth to improve the lives of people around us, or our own life?
‘The Ghost of Christmas Yet to Come’ shows Scrooge a bleak, lonely future where his wealth outlived him but meant nothing.
It’s a chilling reminder: success on paper doesn’t always mean success in life.
Wealth, when reduced to numbers alone, can feel empty. When it reflects the impact we leave, whether helping family, giving time to causes, or creating security for loved ones, it becomes part of a story worth telling.
If wealth were measured not in figures but in positive impact, what would our legacy be?
Scrooge’s transformation wasn’t just about spending more. It was about living more - letting go of non-serving, outdated fears and using his wealth to build a richer, more connected life.
This new year, let’s ask ourselves: is our money working for us or just sitting there? Are we balancing financial security with emotional wellbeing?
Both lead actors (Scrooge and Cratchet) are now departed. The true spirit of financial success isn’t just what we keep - it’s how we use it to live, connect, and create a life that matters.
And that, as Scrooge would tell you, is worth more than any pile of gold coins.
Happy New Year and may your wealth be rich in every sense.
- Peter McGahan is chief executive of independent financial adviser Worldwide Financial Planning, which is authorised and regulated by the Financial Conduct Authority. If you have a financial question, call 028 6863 2692 or email info@wwfp.net
