Belle is Scrooge's former fiancée. He is reminded of Belle and their lost love by the Ghost of Christmas Past, who shows Scrooge memories of their former life together. Belle provides vital insight into Scrooge's character prior to his obsession with wealth, illustrating the ways that greed can fundamentally alter a person's character. Though Scrooge's love for Belle used to be a priority, it eventually gave way to his obsession with money. Noticing that Scrooge's other passions had been eclipsed by his greed, Belle breaks off their engagement, arguing that "I have seen your nobler aspirations fall off one by one, until the master-passion, Gain, engrosses you." She tells him that he has become a different man with "a changed nature; in an altered spirit," and his love for her has lost the value it once held. She firmly contends that although Scrooge may feel slight regret, he will eventually look back on their brief engagement "as an unprofitable dream," indicating that Scrooge has lost the ability to find value in anything that does not hold monetary worth. 

Belle also symbolizes the life that Scrooge could have had if he had made different choices. The Ghost of Christmas Past forces Scrooge to view a scene from Belle's home with her new husband and the family they have raised together. They are happily married and maintain a home that is filled with laughter and merriment. Their joyous lives heavily contrast with Scrooge's solitary existence devoid of love and human connection. He cannot bear to stay and look at the scene and clearly experiences deep sense of regret, having realized he threw away his chance at such a beautiful life.