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Money basics, explained

9 relatables, in a good order to read them.

Money and economics are full of words that everybody nods along to and few people could explain. These relatables cover the ideas behind prices, debt, tax and interest using everyday comparisons, and each says plainly where the comparison would mislead you. They are for understanding only, not financial advice.

  1. Inflation in terms of a Freddo Inflation is basically just the slow, inevitable transformation of a Freddo from a legitimate pocket-money treat into a structural economic indicator.
  2. Compound interest in terms of a snowball Compound interest is essentially a snowball rolling down a hill made entirely of your own inability to stop spending money on unnecessary subscription services.
  3. Credit card interest in terms of a gym membership you forgot to cancel Credit card interest is essentially a gym membership for your debt that you signed up for during a manic phase in 2014 and have since forgotten how to cancel.
  4. Income tax bands in terms of a flight of stairs Understanding UK income tax bands is exactly like climbing a spiral staircase where each landing demands a higher toll, but somehow people still think stepping up a flight will make them slide all the way back to the foyer.
  5. The national debt in terms of a household overdraft The national debt is just a household overdraft that has developed a God complex and decided it never actually has to go to the bank to apologise.
  6. GDP in terms of a pub's weekly takings GDP is essentially just the landlord of Britain tallying up the weekly till receipts to decide if the nation is actually having a good session or just a messy one.
  7. Supply and demand in terms of Glastonbury tickets Supply and demand is just Glastonbury tickets, but with less mud and more existential dread.
  8. Opportunity cost in terms of a Tesco meal deal Choosing a meal deal is an exercise in brutal economics where the shiny ham hock baguette you grab is actually a ghost haunting the discarded chicken triple you mournfully left behind.
  9. Bitcoin in terms of Pokémon cards Bitcoin is essentially the playground equivalent of trading a pristine holographic Charizard for a handful of slightly damp conkers and the lingering hope that nobody notices the corners are frayed.

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