How Money Really Works in the UK
You're earning more than you were five years ago.
You're also poorer in real terms. This isn't bad luck. This isn't poor budgeting. This is the UK financial system working exactly as it was designed to.
How Money Really Works in the UK is the plain-English investigation into the mechanisms that govern what happens to your money - before it reaches you, while you hold it, and every time you spend it, save it, or borrow it.
- Why 97% of UK money is created by commercial banks - not the government
- How a mortgage creates money that didn't exist until you signed the contract
- What your credit card minimum payment is actually designed to do
- Why the inflation figure used in your pay negotiation doesn't measure your life
- How compound interest runs for decades - and whose direction that is
- Who benefits when the Bank of England raises rates
- Why your pay rise disappears before you can spend it
Each chapter follows one real person through one mechanism of the UK financial system: the teacher whose savings lost value while his bank earned on his deposit; the NHS manager who borrowed money the bank created at the moment she signed; the warehouse worker whose credit card minimum payment was designed to keep him in debt for decades.
No investment advice. No self-help. No suggestion to just spend less on coffee.
Just the system. Explained.
Book Three in the critically acclaimed Hidden Systems Series - following How the Housing Market Really Works and How the UK Job Market Really Works.