Main content

Simon Evans outlines the four ages of economics

In the latest series of , the comedian looks at the four ages of economics. From youth to death, via marriage and parenthood, Simon wonders when should we be considering our finances?

Births, deaths and marriages, and what might quaintly be called 'the coming of age'. For many years, the outwardly respectable posted small notices in the best newspaper they could afford to mark these milestones. Nowadays, it’s more likely to be a Facebook update, possibly with a recipe for cupcakes attached, but they remain the key moments in life and hence worth examining from an economic perspective rather than a merely sentimental one, to see as ever what is really going on.

Youth

As we near adulthood, the A-levels we chose to study have an enormous bearing on our future prospects – yet many of us choose them on a rather more frivolous basis – in order not to be separated from a best friend, or because we think they sound “interesting” rather than “lucrative”. I chose A-levels specifically designed to get me on to a law degree, because I thought Rumpole of the Bailey looked like he had an amusing life. As the course progressed, I gradually realised that what I really wanted to be wasn’t so much a barrister, as a fat old drunk, but by then it was too late.

Marriage

Our next big decision is often to get married – and again, we make decisions with profound economic implications with the scantest of preparatory research. It has been shown for instance that having high and, equally importantly, comparable credit ratings is as good an indicator for the success of a marriage as anything else. Yet how many of us properly scrutinise those before the big day? If you think there’s a never a good time to whip out the ring, you should try finding the right moment to ask to see two years of audited accounts.

Parenthood

Marriage itself is of course often a mere preamble to the greatest and most irrevocable thing any of us can do – have kids of our own. Pitched forward on a wave of hormones, family tradition and sheer groundless optimism, which of us ever really sits down with a pad of paper and a sharpened HB and really hammers out the long term effect it’s likely to have on our wallet? And not just if but when, and how, and how many and where… and of course with whom? We have, if not answers, then at least indicators, and some of them may surprise you.

Death

And once we’ve left our little packages of immortality running around and off to embark on their own adventures, it's time to start contemplating death. OK, maybe not immediately, but don’t leave it too long. It’s later than you think and if you don’t make plans – solid, financially watertight plans – then someone else will, and they may not have your best interests quite as close to their hearts as you do. Especially if they’ve realised that your imminent demise is probably the only chance they’ll ever have to own a home of their own.

More comedy from Radio 4...

  • Simon Evans presents comedy lectures on economics.

  • Dead Ringers' producer and script editor explain the pain of responding to political turmoil.

  • Simon Evans on the things we like but shouldn't.