6 Ways That Reality TV Actually Made Me Smarter
And saved me from financial ruin.
By Anna Durkin
It’s no secret that reality television is a key player in the offensive line-up of American media. Whether you’re deliberately tuning in during prime time, binging a weekend marathon or catching a rerun on the treadmill, this smoldering hot mess of semi-scripted television couldn’t feel farther from your own reality. But lo and behold; among the wreckage, there are valuable lessons to be learned. Here’s a rundown of finance tips that you can take straight to the bank.
The Bachelor
How much are you willing to spend for love? In a recent E! Online interview with the ladies of Bachelor Nation, it was reported that “women will spend anywhere from $1,800 to $8,000 before they hit the road to the mansion. Men, on the other hand, can expect to shell out between $300 and $5,300.” While the primping price tag alone is a jarring reality for a female contestant, it also begs the question, is it worth it? Even if you decide to refinance your mortgage or cash in your 401k, you’re laying the groundwork for a life-long relationship that doesn’t include the real “you,” or at least a “you” that you can comfortably afford to maintain.
In other words, keep your eyes on the end game. If it really is true love, can the financial burden be sold separately?
Keeping Up With The Kardashians
Kim K, a modern Cinderella story. And just when you thought her empire couldn’t grow any larger, she became a key player in the social revolution of personal branding, paving the way for her family to fall in line. Kim lost an estimated $300,000 a week during her social media hiatus. Nearly 20% of Kylie’s $18 million earnings in 2016 came from social media endorsements. Kourtney has 21.9 million followers on Twitter which, according to social analytics company Captiv8, earns her well over $30,000 a tweet. Needless to say, the Kardashians have crafted a social media art form and have taught us that if you have a phone, fingers, and a semi-good eye, you have the basic means to brand yourself.
In other words, creating your own celebrity isn’t as far removed from reality as it once was. Dig into some research on influencers and analytics, and hatch that battle plan.
The Real Housewives
While these diamond-draped divas are the first to flaunt their wealth, this doesn’t mean that their bank accounts make a matching set. According to Jezebel, at least ten Housewives couples have filed for bankruptcy since the reality show’s inception, including the high-profile unraveling of New Jersey’s Teresa and Joe Giudice. The show also raises the discussion of financial security amidst a world of controversy, specifically break-ups and divorces. Orange County housewife Lynn Curtin is living proof, joining the show with an extravagant lifestyle backed by a successful husband, who later revealed was hiding thousands of dollars in debt.
In other words, spend what you have, not what you dream of having, and keep a financial plan on your back burner, whether it be an investment plan or a creative side venture (Skinnygirl cocktail, anyone?).
What Not To Wear
As a twenty-something clothes horse without a salary to match, I’m constantly working to strengthen my shopping savvy. Of the many tips that Stacy London and Clinton Kelly offered to their frugality-challenged contestants, the most impactful for me was to not fall prey to markdowns. A sale rack score isn’t worth the markdown if it’s going to sit in the back of your closet. From a big picture perspective, Kathleen Burns Kingsbury, author of Creating Wealth From The Inside Out Workbook, makes a valuable point: “Each time you make a purchase, think about the price relative to how long the item will last and make a decision based on your long-term goals.”
In other words, ditch the unraveling discount threads for an investment that’s wound tight.
House Hunters
Calling all HGTV junkies. While House Hunters offers a behind-the-scenes glance at the glam and gore of house hunting, the perspective is more warped than people realize. In 2012, contestant Bobi Jensen came forward with claims that the producers altered her story and staged two homes on the show that weren’t even for sale. In fact, Bobi and her husband had chosen their new home before filming began. Other claims include false price tags, the order in which the before and after photos are captured (you guessed it), and the family drama. As a prospective buyer, House Hunters is a great resource for fleshing out what you may be looking for in a home, but don’t be schmoozed by the script or production value.
In other words, use lifestyle reality TV as #inspo rather than #goals.
Say Yes To The Dress
It’s your childhood dream playing out before your eyes: waltzing into a bridal store with your mom and best friend, sipping champagne, holding back tears as you whisper, “This is the one.” Why wouldn’t you want to vicariously live through this moment for hours on end? Say Yes To The Dress has all walks of women on overdrive, romanticizing their big day whether it’s on the horizon or in the rear-view. While the show is more transparent about pricing than others, there are still costs that go unacknowledged, leaving room for trip-ups in real life. It’s also important to recognize the dichotomy between wedding planners and reality TV wedding planners.
“Many of these TV shows have a planner completely re-do the venue from top to bottom. That is not practical at many places, and certainly not included in the standard pricing, so we need to collaborate with the couple to ensure that their vision fits the space they are interested in.” — Barbara Thibault-Simon, director of catering for Trump SoHo New York.
In other words, find a wedding planner that keeps your dreams alive at a price rooted in reality. Also, adopt an indulge-rather-than-binge bridal TV policy.
