The 3 big money lessons hidden within the movie Groundhog Day

The 1993 film Groundhog Day may be famous for introducing the rest of the world to the real town of Punxsutawney and breathing new life into the calendar’s least exciting holiday. But the story of Bill Murray’s Phil Connors living repeatedly through February 2 can sure as heckfire also teach us about money.

Here are three hidden financial messages lurking underneath the surface of Groundhog Day.

Live in the Moment . . . But Work for a Better Future

When we meet Phil Connors, he’s a big-city meteorologist frustrated at having to cover the Groundhog Day festivities in Punxsutawney, PA, for the fourth time. To his despair, he discovers himself stuck in a time loop, reliving Groundhog Day an estimated 12,395 times.

When Phil first realizes his actions have no consequences, he embraces the hedonism of living in the now. He goes on a joy ride that ends in a police chase, eats an entire table-full of goodies, seduces women, and steals money from an armored truck. But this momentary pleasure eventually palls as he contemplates a future that never changes. This leads to Phil attempting suicide to get out of the loop—only to wake up again and again on the morning of February 2.

It’s not until Phil realizes he can both live in the moment and create a better future that things turn around for him. For example, he begins taking piano lessons (with a teacher who thinks he’s a brand-new student every time he sees her). The lessons give him something interesting to do each day while also allowing him to improve over time, despite the time loop resetting every morning.

Applying This Lesson

When it comes to our finances, we often have the same kind of binary thinking that Phil displays. Like Phil in his pastry-mainlining phase, many of us spend money without any thought of saving for retirement because “it’s never gonna happen.”

But like Phil in his despairing phase, many of us deny ourselves and avoid spending any money for fear of an uncertain future.

Phil shows us that living in the moment and working for a better future is not only the best way to escape a rodent-centric time loop, but also the best way to feel satisfied with your finances. You can take care of your current self and your future self by spending money on the things that bring joy and meaning to your life in the moment while also setting money aside for whatever comes next.

There’s no guarantee that tomorrow will come, but preparing for it can help give meaning to today.

Make the Most of Where You Are

Punxsutawney in February is hardly the place or time that Phil would choose to be stuck in. When he first realizes what’s happening, he wishes he could have repeated a wonderful day he’d spent in the Virgin Islands instead.

Though Phil spends a good chunk of the movie lamenting his situation, he eventually learns to embrace the opportunities he finds there. In addition to learning piano, he also becomes an ice sculptor, gets to know all the small town inhabitants, helps a number of people—and buys an inordinate amount of insurance. Punxsutawney may not be the idyllic Virgin Islands, but Phil figures out how to make it a place where he feels happy.

Applying This Lesson

Few of us will ever have to deal with a Groundhog Day-style time loop, but we can all relate to the sense of being stuck somewhere: whether that’s a dead-end job, a location we didn’t choose, or a difficult family situation.

Finding the good in tough situations will not just help your mood, but it can also help your finances. For example, if you wake up every morning glad to spend time with wonderful coworkers even though you hate your job, you’re less likely to spend impulsively to make yourself feel better. 

There is contentment and meaning to be found in even the worst of situations. Intentionally looking for the good things, even if you’re simultaneously working to change the situation, can save you heartache, time, and money.

All you have control over is yourself

Phil spends much of the movie wanting to control everything around him. Even before he falls victim to the time loop, Phil refuses to acknowledge the blizzard bearing down on Pennsylvania because it’s not what he wants to happen. Once he is stuck in a never-ending February 2, he keeps trying to seduce his producer, Rita, only to have her reject (and slap) him over and over. And he repeatedly tries to get out of social interactions with his old classmate Ned Ryerson, who is impervious to hints (or outright hostility).

But when Phil realizes he can’t control the weather or the people around him, he starts focusing on what he can control: himself. Instead of trying to make the weather or other people follow his preferences, he accepts that they will not change—and changes himself. He doesn’t try to outrun the storm; he leaves Rita alone; he treats Ned with kindness and listens to his sales pitch.

That leads to a perfect day where the weather doesn’t matter, Rita sees that Phil is a man she could care for, and Phil makes Ned an incredibly happy insurance salesman.

Applying This Lesson

When it comes to our finances, we often wish things were different. We’ll lament the state of the stock market and make risky investments in the hopes of making up for losses. We’ll complain about our inadequate salaries while spending far beyond our means. We’ll rant to anyone who will listen about the inheritance that Great-Aunt Estelle squandered.

Like Phil refusing to accept the reality of the blizzard or trying to manipulate Rita, these kinds of complaints are based on the idea that it’s possible to change things simply through the power of will. But we can’t control the markets, our employers, or our well-to-do relatives. We can only control ourselves.

Accepting that you can only control yourself is about accepting reality: the reality that the market will fluctuate, that we either have to lower our spending or get a higher-paying job, and that our wealthy relatives can (and will) do whatever they hell want with their money. Once you have come to that level of acceptance, you can focus on the things you can control. And, like Phil, you may find that you feel better about yourself and get closer to what you want.