I’ve always considered myself a massive film fan, but even the most dedicated among us have gaps in their knowledge. For me, that’s particularly true when it comes to classics (or anything from before 1960). Now, with Christmas films specifically, the usual suspects when I was growing up were Home Alone, The Santa Clause, The Muppet Christmas Carol, and my personal favourite, the Arnold Schwarzenegger-led Jingle All the Way, possibly hinting at my age. 

If we turn to IMDB’s top 100 Christmas movies of all time, however, a film from 1946 sits in first position with an impressive 8.6-star rating with 543,000 reviews, fending off competition from Home Alone in second place with 7.7, and Die Hard (as contentious as that choice is) in third with 8.2. I am, of course, referring to Frank Capra’s black-and-white festive classic, It’s a Wonderful Life, a film that has certainly been on my radar, but until now, I’ve never watched it. So, with the season well and truly underway, I finally decided to sit down and see what all the fuss is about.

Starring Hitchcock favourite James Stewart, Donna Reed, and Lionel Barrymore, this American fantasy drama follows the life of kind-hearted George Bailey (played by Stewart), a building and loan banker who sacrifices his dreams to help others.

All George wants to do is travel, but his aspirations are quashed as he attempts to stop the dastardly robber baron Mr Potter (played by Barrymore) from taking over the fictional town of Bedford Falls, New York.

On Christmas Eve, disaster strikes when George’s Uncle Billy misplaces $8,000 belonging to the building and loan. It could signal the end of his firm, and George might even face jail time as the person in charge.

A desperate George, who thinks it would be better for everyone if he were dead, contemplates suicide by throwing himself off a bridge, but a guardian angel intervenes and shows him what life would be like if he were never born.

My first thought watching the film was that, with some black and white films, they can be so immersive and the story so well told that you quickly forget they’re not in colour – one other example that comes to mind is Psycho (1960).

It’s a Wonderful Life is one of these films, a captivating, well-paced tale with strong performances and snappy dialogue that defies its age and feels far shorter than its 2-hour, 10-minute runtime.

I also noticed it had a touch of Charles Dickens’ A Christmas Carol about it. George’s encounter with guardian angel Clarence Odbody somewhat bears a resemblance to Scrooge’s Ghost of Christmas Yet to Come.

Upon further research, I discovered that the film was reportedly inspired by Philip Van Doren Stern’s “The Greatest Gift,” a short story that drew inspiration from the 19th-century literary classic.

I was struck by the tightly written plot, involving Potter’s attempts to dissolve the building and loan, and its handling of such universal themes as sacrifice, community, family, friendship, and self-worth.

By the end, despite its age, I couldn’t help but feel profoundly moved as the people of Bedford Falls assemble to help out George with his money woes, particularly when his brother, Harry, says the line: “A toast to my big brother George: The richest man in town.”

It now seems obvious why It’s a Wonderful Life is considered such a triumph. If I had to sum it up in three words, I would describe the film as a poignant, timeless masterpiece. It is certainly in my top three Christmas movies of all time.

It’s a Wonderful Life is free to watch on ITVX now