£100 Today ≠ £100 in 2015 — Here’s Why You Feel Poorer

Around 2015, what cost £50 now costs £68. The same £50. So it's a big change in purchasing power. And if you're a Doctor, you're earning 100k or you're earning 120, 130 and you're still feeling poor. It's part of it is because the money that you're earning now is not worth what it used to be. So there's something called inflation, which I've mentioned. Basically is when the prices of goods are going up but your money can't buy. I want us to discuss things in late because I spent the last three days with London Institute of Banking and Finance. We're talking about the like big terms, but inflation is basically, you have hundred pounds, you could buy this 10 years ago. Now if you want to buy the same thing, you need £136. The implication of that is if you leave your money just lying in the bank account, if you leave your money in a bank account without doing anything about it, the value is simply going to go down over time.