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think of your money like this
if income stays the same
yet expenses keep rising
inflation keeps soaring
what happens? no matter how much you earn, you get poorer
so what’s the way out?
Read on
if income stays the same
yet expenses keep rising
inflation keeps soaring
what happens? no matter how much you earn, you get poorer
so what’s the way out?
Read on
in a normal economy, inflation is expected to occur at 11% rate
which means if you earn $1K [an analogy for example]
if inflation occurs, you lose your purchase power by $110
so your initial $1000 in the bank now has a purchase power of only $890
which means if you earn $1K [an analogy for example]
if inflation occurs, you lose your purchase power by $110
so your initial $1000 in the bank now has a purchase power of only $890
and this doesn’t include how your cost of living keeps rising everyday
but you shouldn’t have to live your fate in the hands of the government
here are 4 practical ways to battle this
(At least this works for me & should for you too)
read on
but you shouldn’t have to live your fate in the hands of the government
here are 4 practical ways to battle this
(At least this works for me & should for you too)
read on
1. Invest in yourself
For real, the best investment that pays the most dividend is you
Learn more about money and how it works.
Stop leaving everything to the news and media
Focus on getting at least 30 minutes a day to read books on the subject or watch YouTube videos
For real, the best investment that pays the most dividend is you
Learn more about money and how it works.
Stop leaving everything to the news and media
Focus on getting at least 30 minutes a day to read books on the subject or watch YouTube videos
2. Find some ways to increase how much you earn
With the leverage of the internet, this has become easier
Even if you operate a 9-5, you can package your knowledge and sell
Minimal costs and huge rewards
or sell some items at a high mock-up price by flipping products
With the leverage of the internet, this has become easier
Even if you operate a 9-5, you can package your knowledge and sell
Minimal costs and huge rewards
or sell some items at a high mock-up price by flipping products
3. Stop saving
I know this sounds out of what you’re used to
Stop putting your money in banks to sleep there all year
when iron isn’t used, it rusts
when water is stagnant it stinks
same happens to your money. Put it to work and reinvest the gains
I know this sounds out of what you’re used to
Stop putting your money in banks to sleep there all year
when iron isn’t used, it rusts
when water is stagnant it stinks
same happens to your money. Put it to work and reinvest the gains
4. Have at least 5 months of emergency funds secured
This seems counter to number 3 but it isn’t and here’s why
You want to put this in an account hedged against inflation that still gives you interest
There exists so many offshore accounts that are also tax-free
This seems counter to number 3 but it isn’t and here’s why
You want to put this in an account hedged against inflation that still gives you interest
There exists so many offshore accounts that are also tax-free
Anyhoo, I just felt like this would help someone avoid hefty money loss from inflation and increased cost of living
If you end up making more money, ensure you reduce your expenses and increase your income sources
Found value in this? Share with someone you care for
If you end up making more money, ensure you reduce your expenses and increase your income sources
Found value in this? Share with someone you care for
