What do you find confusing about money?

On the blog we’ve been writing guides, busting myths and answering FAQs, all in an effort to understand how money works. And I’m on the hunt for topics we should cover next.

So tell me! What do you find confusing about money, that you think needs clearing up?

It can be anything from a whole topic you think we need to cover, or a common misconception you always hear people getting wrong.

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This is what I find confusing about money

Why does it happen all the time



Hi @bea what about something to do with planning for retirement and the savings/investments options.


Plus one.

This comes to mind:

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I have a pension through work :clap: and both me and my employer pay into it on a four weekly basis, however, I don’t really understand it all :exploding_head:. I know I need a pension and I keep getting told the one I have is a good one as its final salary but that’s all I know :thinking:

What % of your pay do you pay in to your pension, and what % does your employer match?

The general rule I hear is that the total of those two % should be the same as half the age you are when you starting paying in to the pension.

So if you were 20, the % you should be putting in is 10% (for every year from that point onwards).

If you were 30 when you started, then then % you should be putting in (in total between you and your employer) is 15% per month.

The concept being that due to compound interest the earlier you start the less you have to pay in.

I currently pay in 8.5% and my employer pays in 12.5% so 21% in total. I started working for the company when I was 27 years old so I am assuming I have been paying enough in then?

Your employer pays in 12.5? That is crazy high! People I ask normally say their employer match 3-5%.

There is lots more to it that I don’t really know (which a detailed and long blog post would help with @bea :wink: ) but that sounds pretty good to me.

When you say it’s a ‘final salary’ I think that is different from a standard pension, and I don’t know the rules around that.

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The perks of being heavily unionised I guess? I know final salary pensions are meant to be a rarity these days but that’s all I know. I think a blog post on the types of pensions would be good. My assumption is that if it’s final salary it means when I retire I still get my full salary but I’m sure that can’t be right?

I don’t think so :stuck_out_tongue:

I think it is something along the lines of a percentage of your final salary.

That was quick :rofl::rofl::rofl::point_down::point_down::point_down: