About this source
Imperial College professor Tarun Ramadorai argues that the personal finance system is structurally biased against ordinary households — through mortgage teaser rates, deliberate product complexity, insurance mispricing, and a regulatory failure to protect the neglected middle class. He draws on his book 'Fixed: Why Personal Finance Is Broken and How to Make It Work for Everyone'.
Frameworks extracted
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The Financial Starter Kit
Every provider must offer a plain-vanilla baseline — the OTC moment for personal finance
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The Insurance Calibration Rule
Insure large catastrophic risks only — take the highest excess you can afford
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Shove Not Nudge
Soft behavioural nudges are insufficient when suppliers actively re-complexify around them
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The Financial Middle Class Neglect
Society obsesses over the financial extremes and ignores the vast vulnerable middle
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Complexity as Extraction Tool
Financial product complexity is often deliberate — opacity is the product
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The Teaser Rate Trap
The mortgage market profits from borrowers who forget to refinance on time