By David Connell

Remember back in the go-go 90s when personal finance was cool, when CNBC was as hot as ESPN and stock prices were hyped as much as the Nets? Remember when Squawk Box was bigger than Sports Center?

Well, forget about it, because all of that is over. Stocks are scams (just ask Martha Stewart and Sam Waksal), day trading is so 1998 and the NASDAQ is barely even on the radar screen. So what's hot now? Well, according to our old-school friends at the Public Broadcasting System: prudent money management, careful long-term investment, managed debt and solid goals.

Kelvin Boston meets Ric Edelman
I've been watching a lot of PBS lately. The network's financial programming is light on screaming heads (they're usually called "talking heads" but let's call a spade a spade here) and production value, but it makes up for this in solid advice.

Take the program Moneywise with Kelvin Boston for instance. Boston and his guests basically sit at a round table flanked by pleasing blue backgrounds and discuss the issue of the day. There is little more to the program—think Charlie Rose without the black. On a recent show Boston and guests mega-selling finance author Ric Edelman and Karen Hill of Invision Mortgage, Inc. discussed debt and Americans' growing indebtedness. While this may not be the most complicated financial planning subject in the world, it is one that concerns almost every household. Also, once clients begin to get into secured debt and college loans, financial advisors sometimes become necessary for managing debt.

Personal Finance recommends that young people get their financial house in order sooner rather than later, and that they find a financial advisor.

Edelman and Hill had differing opinions about debt and financial management in general. Edelman stated that a mortgage is the only form of debt that is truly acceptable. "Too many parents create far too much burden on themselves and their children by not saving for college," Edelman told Boston. He added that parents who have not saved enough for college should "drastically rethink how they are going to pay for that child's college education." On the other hand, Hill was more lenient saying that higher education debt may be an unavoidable fact of life in today's world.

As far as overall financial planning is concerned, Edelman was not high on budgeting. In fact, he said that a couple profiled in the program who budgeted so well they lived below their means "micromanaged a little too much." For Edeleman, setting concrete goals is more important. Hill differed strongly saying that budgeting is the most important aspect of financial planning. She even went so far as to equate money management to dieting, urging folks to keep track of their expenses as they would a food diary.

Financial advising for young professionals
Another PBS show, aptly titled Personal Finance, aims to educate young professionals about the importance of personal finance. While the show's production misses the mark completely—relying on cheap computer graphics and imitation MTV-style quick cuts—its information is practical and sound.

Personal Finance recommends that young people get their financial house in order sooner rather than later, and that they find a financial advisor. The show, which is a special running on PBS and not a series, suggests writing down short-term, mid-term and long-term goals for financial success then bringing them to a financial advisor. When seeking professional help, the show says to consider the following:

• is the person certified?
  
• do you have confidence in the planner?
  
• is the firm reputable?
  
• is the plan worth what it costs?
  
• does the plan push financial products the firm is trying to sell?
  
• is the plan easy to understand?
  
• the financial planner should be able to provide simulated plans to show you what you're getting.
  

Personal Finance also tells viewers that a professional financial plan should include:

• an assessment of your net worth
  
• consideration of present and future tax issues
  
• higher education expenses
  
• expected retirement lifestyle
  
• potential estate problems
  
• planning for death and disability
  
• health care
  
• current and future asset allocation
  
• an investment strategy

Both of these lists are not only reasonable, but really hit the mark and prepare anyone who has seen the show for a financial planning session. If you have younger prospects or are seeking them, it may be worth contacting PBS for copies of Personal Finance—despite the less than stellar production values.

Am I missing something? Did you read an essential story on investor confidence? Is Law and Order sticking it to the insurance industry again? Have you read a book that deals with the financial services industry? Is this a poorly written column and a disgrace to the industry? Sound off on "Media Watch" by emailing your thoughts to David Connell.

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