Keeping up with Inflation
Watch the video and learn about the impact of inflation on your savings, and why doing nothing could be the worst decision of all.
Key learning points:
Inflation erodes the purchasing power of your savings. But it is a silent enemy. Its effects are not always immediately obvious. Hypothetically, if inflation was running at just 3% per year for 10 years, a cash sum of $10,000 will buy less than $7,500 worth of goods and services - at today's prices - in 10 years' time.
Leaving all of your money in low-yielding bank accounts, like Fixed Deposits, could be a big mistake. It is important to make your savings grow at least at the same pace as inflation.
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