How Money Really Works

About How Money Really Works

How Money Really Works is the podcast that explains what no one ever taught us about money. Hosted by journalist Peter Oliver and wealth manager Stephen Hope, each episode breaks down how money actually works in real life — from savings, pensions, tax and investing, to property, risk and the financial decisions that shape our futures. No jargon. No hype. No get-rich-quick nonsense. Just clear, honest conversations designed to help you understand your money — and make better decisions with it.

Publisher

Peter Oliver & Stephen Hope

Category

business

Language

en

Explicit

No

First episode

31 Dec 2025

Latest episode

22 Jun 2026

Latest episodes

11 episodes in the feed.

1. 

   22 Jun 2026

   S2 E3 - SpaceX, Defence Budgets and Difficult Choices

   How Money Really Works | Season 2 Episode 3 Peter has finally bought his first shares in SpaceX. But is the world's most talked-about company actually worth its eye-watering valuation? And what does a two trillion dollar company tell us about the state of Britain, global markets and modern capitalism? This week Peter and Stephen discuss: • Peter's new SpaceX investment. • Why investors are so fascinated by Elon Musk. • Whether SpaceX is overvalued. • The comparison with Tesla's historic rise. • What happens if Elon Musk walks away. • The difference between investing and speculation. • Why Britain is struggling to fund higher defence spending. • Whether modern warfare is changing faster than governments can adapt. • The political challenge of paying for defence. • Why the state pension and the Triple Lock remain one of the biggest financial issues facing the UK. As always, this podcast is financial education, not financial advice. Follow us: Instagram: https://www.instagram.com/hmrwpod (https://www.instagram.com/hmrwpod) TikTok: https://www.tiktok.com/@howmoneyreallyworks (https://www.tiktok.com/@howmoneyreallyworks) Listen on Spotify: https://open.spotify.com (https://open.spotify.com) Listen on Apple Podcasts: https://podcasts.apple.com (https://podcasts.apple.com) Have a question for Peter and Stephen? Send it through on social media and it could feature in a future episode.

2. 

   27 May 2026

   Tony Blair, Tax Traps and Torn on Karaoke

   Peter and Stephen are back after Sunderland’s European dream became reality… and somehow that led to a pub conversation about capital gains tax. This week on How Money Really Works: • Why political promises always sound simpler than reality • Reform UK’s “tax-free overtime” idea • Wes Streeting, wealth taxes and unrealised capital gains • Why politicians are all a bit weird • Tony Blair’s dramatic warning about Britain’s future • Net zero, energy prices and Britain’s competitiveness • Why long-term planning seems impossible in modern politics There’s also karaoke confessions, Sunderland in Europe, and the launch of Pete’s Portfolio getting one step closer. This is financial education, not financial advice. Follow us: Instagram: @hmrwpod TikTok: @hmrwpod

3. 

   14 May 2026

   S2 E1 - Freddos, Fuel Prices and Falling Governments

   Title Season 2 Episode 1: Iran, Inflation, Bonds and Britain’s Political Meltdown Description How Money Really Works is back for Season 2. Hosted by journalist and foreign correspondent Peter Oliver alongside financial adviser Stephen Hope, the podcast breaks down the biggest economic and political stories in plain English and explains what they actually mean for your money, your mortgage and your future. In this episode: How the conflict involving Iran is driving up fuel prices and inflation Why interest rates may stay higher for longer What bond markets and gilts actually are Why government borrowing affects ordinary people The growing pressure on Keir Starmer and what political instability means for markets Mortgages, household finances and what could happen next Stephen explains inflation through the “Freddo Index,” while Peter looks at the political fallout currently gripping Westminster. As always, this podcast is for educational and informational purposes only and does not constitute financial advice. Follow Us Instagram: @howmoneyreallyworkspod TikTok: @howmoneyreallyworkspod YouTube: @HowMoneyReallyWorks Live Show Tickets Peter will be appearing live at the Fire Station in Sunderland for a special live recording of the WTF Sunderland podcast featuring former Sunderland AFC star Carlos Edwards. Tickets available here: Fire Station Sunderland Live Show Tickets (https://www.thefirestation.org.uk/spektrix/ChooseSeats?EventInstanceId=173601ALVLPGRKPMTDLRTHJNNPDTTNBBL) Chapters 00:00 Season 2 begins 06:15 The lost episode and where we’ve been 10:40 Iran, fuel prices and inflation 14:30 What is inflation? 17:10 The Freddo Index 21:00 Why prices go up 24:30 Bonds, gilts and government borrowing explained 31:30 Why bond markets matter 36:30 Mortgages, interest rates and household finances 41:40 Labour leadership pressure on Keir Starmer 47:30 Angela Rayner, Andy Burnham and Wes Streeting 54:00 Bond markets and political instability 56:40 Ed Miliband, energy policy and net zero 1:03:40 Final thoughts and outro Tags UK economy, inflation, interest rates, mortgages, bonds, gilts, Iran, fuel prices, Keir Starmer, Labour Party, Wes Streeting, Andy Burnham, Angela Rayner, Ed Miliband, politics, personal finance, economics podcast, UK politics, How Money Really Works

4. 

   21 Feb 2026

   S1 E7 - Gong Xi Fa Cai, End of Season One

   This week’s episode is… slightly stitched together. Peter is in Macau for Chinese New Year. Stephen is in Tenerife on half term. The tech did not cooperate. We move. Despite the “funk on the line”, this emergency episode still tackles some big themes: • Why every new AI launch seems to shake markets • What volatility actually means and why it is not the enemy • The behavioural mistakes investors make during uncertainty • Why Asia is outperforming while parts of the US tech sector wobble • What the Industrial Revolution can teach us about AI today • Diversification, time horizons and staying invested Stephen explains why missing just a handful of the best recovery days can dramatically change long term outcomes. AI may feel like a steam horse in the next field, but reacting emotionally is rarely the winning strategy. As always, this is financial education, not personal financial advice. Investments can rise as well as fall and you may get back less than you invest. Always take advice specific to your own circumstances. This episode also marks the end of Season One. Peter is finishing one book and starting another, and Season Two is already in development with some very special guests lined up. We will be back in around a month. Until then, Gong Xi Fa Cai. May you get rich. Watch the show on YouTube https://www.youtube.com/@HowMoneyReallyWorksPodcast (https://www.youtube.com/@HowMoneyReallyWorksPodcast) Follow How Money Really Works Instagram https://www.instagram.com/hmrwpod/ (https://www.instagram.com/hmrwpod/) TikTok https://www.tiktok.com/@howmoneyreallyworks (https://www.tiktok.com/@howmoneyreallyworks)

5. 

   11 Feb 2026

   S1 E6 - Politics, Power & Money.

   Season 1, Episode 6 - Politics, Power & Money. Politics, power and money collide this week as we unpack three big themes shaping confidence, behaviour and markets. First, the renewed political noise around the Epstein-linked revelations in the UK, the spotlight on Peter Mandelson, and what this means for Keir Starmer’s authority. We look at why markets hate uncertainty, how leadership risk feeds into policy risk, and why bond investors pay attention when Westminster starts to wobble. Then, Peter joins from Shanghai to talk about how Starmer’s China visit was seen on the ground, what visa liberalisation actually changes for business travel, and whether warmer signalling can translate into real commercial advantage. We also get into the difference between headlines and long-term exposure, and why face-to-face meetings still matter in Chinese business culture. And finally, when trust feels shaky, where does money go. Gold, silver, crypto, defensive assets and the idea of a “digital hedge”. We talk about why these assets can rise fast, fall fast, and why diversification is usually the dull answer that keeps people sane. As always, this is not financial advice. It is a conversation about how money really works. Follow the show Instagram: https://www.instagram.com/hmrwpod/ (https://www.instagram.com/hmrwpod/) TikTok: https://www.tiktok.com/@howmoneyreallyworks (https://www.tiktok.com/@howmoneyreallyworks) If you have a question you want us to tackle, send it in the comments or through the socials.

6. 

   8 Feb 2026

   How Money Really Works. Season 1, Episode 5

   In this episode, Peter Oliver is joined by Frankie Francis, musician, venue operator and one of the people behind Sunderland Music City. They talk about the real economics of live music in the UK. This includes the impact of 20 percent VAT on venues, what government support helped after Covid, where it fell short, and how Brexit has changed touring for UK bands nearly ten years on. A practical, first hand look at why grassroots venues are still under pressure and what that means for artists, audiences and local music scenes. Follow How Money Really Works Instagram https://www.instagram.com/hmrwpod/ (https://www.instagram.com/hmrwpod/) TikTok https://www.tiktok.com/@howmoneyreallyworks (https://www.tiktok.com/@howmoneyreallyworks) X https://x.com/HMRWpod (https://x.com/HMRWpod) YouTube https://www.youtube.com/channel/UCuH_AxxJZ_ojBdLL3C2LpfA/ (https://www.youtube.com/channel/UCuH_AxxJZ_ojBdLL3C2LpfA/) Follow Frankie Francis and Sunderland Music City Frankie Francis https://www.instagram.com/frankie____/ (https://www.instagram.com/frankie____/) Frankie and The Heartstrings https://www.instagram.com/frankiestrings/ (https://www.instagram.com/frankiestrings/) Sunderland Music City https://www.instagram.com/musiccity.uk/ (https://www.instagram.com/musiccity.uk/) Disclaimer This podcast is for general information and discussion only. Nothing should be taken as financial, tax or legal advice.

7. 

   29 Jan 2026

   S1 E4 – Prices Up, China Reset & Tax Pressure

   How Money Really Works – Season 1, Episode 4 This week, we start with the pressure people are actually feeling at the checkout. UK shop prices are rising at their fastest pace in almost two years, even as headline inflation is supposed to be easing. We look at why everyday essentials still feel more expensive, what that means for household budgets, and how rising costs quietly change behaviour and financial decisions. We then turn to the UK’s relationship with China, as Keir Starmer heads to Beijing. Not alignment, not confrontation, but a reset. We discuss what that signal means for confidence, trade, visas, and long-term investment, and why calm diplomacy matters more to markets than political noise. Finally, with the self-assessment deadline days away and the tax year moving toward April, we break down what actually matters now. What happens if you miss the deadline, what penalties really look like, and why January closes the paperwork but not the planning. Important note: Nothing you hear on this podcast is financial advice. This is financial education only. You should always seek professional advice before making decisions about your own money. You can find us on: Instagram: @HMRWpod TikTok: How Money Really Works YouTube: How Money Really Works Podcast X: @HMRWpod If you enjoy the show, please follow or subscribe wherever you listen or watch. It really helps more people find us.

8. 

   22 Jan 2026

   S1 E3 - Uncertainty, Tariffs, Trusts & the £100k Tax Trap

   Why does earning more money in Britain increasingly not feel like getting richer? In this episode, Peter and Stephen look at how geopolitical uncertainty, tariffs, and quiet tax changes shape markets, confidence, and everyday financial decisions. From global politics feeding directly into household costs, to why uncertainty changes behaviour more than bad news, we break down what’s really going on beneath the headlines. We explore the impact of shifting rules on retirement planning, why ordinary families are increasingly considering trusts, and what that says about confidence in the system. Finally, we explain the £100,000 tax trap — how it works, why it creates an effective 60 percent marginal tax rate, and why it can discourage people from earning more. This episode is about incentives, behaviour, and confidence — and why none of this is random once you understand how the system fits together. Key Takeaways Global political uncertainty feeds directly into markets and consumer confidence Quiet tax changes influence behaviour as much as headline tax rises Confidence matters more than performance in long-term planning The £100k tax trap creates powerful disincentives to earn more Policy design shapes financial behaviour, intended or not Important Note This podcast is financial education, not financial advice. Always seek professional advice before making financial decisions. Get in Touch Have a question, situation, or story you’d like us to explore? Instagram: https://www.instagram.com/hmrwpod (https://www.instagram.com/hmrwpod) TikTok: https://www.tiktok.com/@howmoneyreallyworks (https://www.tiktok.com/@howmoneyreallyworks) YouTube: https://www.youtube.com/@HowMoneyReallyWorksPodcast (https://www.youtube.com/@HowMoneyReallyWorksPodcast) Takeaways Uncertainty in global politics affects markets and consumer confidence Tax planning and financial decisions are impacted by policy changes Chapters 00:00 Geopolitical Uncertainty and Market Impact 16:45 Impact on Retirement Planning 25:24 Rising Interest in Trusts 37:00 The 100K Tax Trap 47:28 Policy Impact on Financial Decisions

9. 

   15 Jan 2026

   S1E2 - Business Rates, Pubs and Public Spending

   How Money Really Works Season 1, Episode 2 Business Rates, Pubs and Public Spending Published: 15 January 2026 Episode summary In this episode of How Money Really Works, Peter Oliver and Stephen Hope examine how political decisions filter through to everyday finances, from household bills to local businesses. We begin with the global backdrop. Rising geopolitical tensions involving Iran, Venezuela, and energy supply routes are once again pushing oil prices higher. While there are no immediate shortages, markets are pricing in risk, keeping inflation expectations elevated and interest rates higher for longer. Stephen explains why oil acts as a silent tax on households and why inflation easing does not mean prices fall. Back in the UK, we look at the government’s £45 billion commitment to rail infrastructure through Northern Powerhouse Rail and the Trans-Pennine upgrade. The discussion focuses on what long-term infrastructure spending really means for savers and taxpayers, why the benefits take decades to materialise, and why short political cycles often undermine delivery. The second half of the episode turns to business rates and the growing crisis facing pubs and hospitality. With the current 40 percent business rates relief ending in April and a full revaluation coming into force, many pubs face sharp cost increases with no confirmed replacement policy in place. We hear directly from David Lawrence, landlord of the Black Bear Inn in Moreton-in-Marsh, on what these changes mean on the ground. David explains how rising fixed costs, VAT rules, and rateable value calculations are pushing independent pubs to the brink, and why hundreds of venues could close if nothing changes. Finally, Peter and Stephen zoom out to the wider implications. How higher business costs feed into prices, jobs, and local communities. What sticky inflation and higher interest rates mean for mortgages, savings, and day-to-day living. And why governments are increasingly boxed in between debt, growth, and voter pressure. What we cover in this episode • How geopolitics feeds into inflation and interest rates • Why oil prices matter even when supply is stable • UK rail investment and the reality of long-term infrastructure spending • Business rates reform and the end of hospitality relief • The financial reality facing independent pubs • How rising costs affect prices, jobs, and local services • What higher-for-longer interest rates mean for households • The political trade-offs shaping public spending decisions Important disclaimer Nothing discussed on this podcast is financial advice. This show is for financial education only. Always seek professional advice before making decisions about your money. Follow and contact the show Instagram @hmrwpod TikTok @howmoneyreallyworks YouTube @HowMoneyReallyWorksPodcast X (Twitter) @HMRWpod Questions, comments, or ideas for future episodes are always welcome.

10. 

    7 Jan 2026

    Episode 1: How Money Really Works

    In our first episode of How Money Really Works, we look at the gap between the headlines you see in the news and what actually happens to people’s money afterwards. We start with global politics and oil, looking at why events involving the United States, Venezuela and Greenland matter to markets, even if they don’t hit household finances immediately. From there, we bring it back to the UK and unpack the economic backdrop, the Office for Budget Responsibility outlook, and the quiet consequences of last year’s Budget that are only now starting to be felt. We talk about fiscal drag, frozen tax thresholds, ISAs, pensions, cost of living pressures and why many people feel worse off even when markets appear calm. We also look ahead to the political debate heading into the UK local elections and why cost of living has become the battleground. This is a show about financial education, not financial advice. We don’t make predictions or tell you what to do. We explain how the system works, how policy decisions filter through over time, and what that means for ordinary people trying to plan ahead. Follow the show Instagram: @hmrwpod TikTok: @howmoneyreallyworks YouTube: @HowmoneyReallyWorksPodcast Important notice This podcast is for financial education only and does not constitute financial advice. Always speak to a qualified financial adviser before making decisions about your money. Contact Stephen Hope Wealth If you would like to make an appointment with Stephen Hope to discuss any of the topics covered in this episode: Email: SHWealth@sjpp.co.uk (mailto:SHWealth@sjpp.co.uk) Instagram: https://www.instagram.com/stephenhopewealth (https://www.instagram.com/stephenhopewealth) LinkedIn: https://www.linkedin.com/in/stephen-hope-0ab30b54 (https://www.linkedin.com/in/stephen-hope-0ab30b54)

11. 

    31 Dec 2025

    Trailer – How Money Really Works

    This is the trailer for How Money Really Works. A new podcast about the gap between what gets announced in Westminster and what actually shows up in real life. Taxes. Pensions. Mortgages. Markets. Peter Oliver and Stephen Hope have known each other since they were teenagers. One spent his career covering politics. The other works every day with money. This show connects those two worlds. No hype. No panic. No pretending there’s one right answer. This is financial education. It is not financial advice. New episodes every Thursday.