Welcome to One Thing About Money. On this podcast, guests from different walks of life explain the ‘one thing’ they believe everyone should know about money, finance or the economy. 

This week's guest is Jake Eliot, Head of Policy at the National Lottery Heritage Fund and has been Head of Policy at the Money & Pensions service, among other roles. In this fascinating chat, he shares (among other things) some of the psychological implications of not having enough, the impact of early experiences, where financial education can go wrong – and when you should just eat the marshmallow.

My name is Leila Johnston, I live in Scotland and write about technology and business for a living. The music on this podcast is called Just a Waltz and is by Alena Smirnova.