A holiday favourite for generations... George Bailey has spent his entire life giving to the people of Bedford Falls. All that prevents rich skinflint Mr. Potter from taking over the entire town is George's modest building and loan company. But on Christmas Eve the business's $8,000 is lost and George's troubles begin.

It's Christmastime, and the Griswolds are preparing for a family seasonal celebration. But things never run smoothly for Clark, his wife Ellen, and their two kids. Clark's continual bad luck is worsened by his obnoxious family guests, but he manages to keep going, knowing that his Christmas bonus is due soon.

On Christmas Eve, three homeless people living on the streets of Tokyo discover a newborn baby among the trash and set out to find its parents.