The instruments: how they work

Five lessons on what accounts and deposits, bonds, shares, funds and ETFs actually are, and how to read costs. No specific products, only how things work.

• Current accounts and deposits — What they are for, the difference between a current account and a savings deposit, and what deposit protection means.
• Bonds: lending money — What a bond is, what coupon, maturity and rating mean, and why prices fall when interest rates rise.
• Shares: becoming a part-owner — What you buy when you buy a share, where the return can come from and why prices swing so much.
• Mutual funds and ETFs — How a fund works, the difference between active and passive management, what an ETF is and which documents to read.
• Costs: small numbers, large effect — Which costs exist, where they are written down and why one percentage point a year weighs so much over the long term.

Educational and informational content only. It is not personalised financial, investment or tax advice. All investments involve risks, including the possible loss of invested capital.

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