How does inflation  impact  your  finances?

Inflation diminishes the purchasing power of your money, meaning you’ll need more money to buy the same goods and services.

1. Reduced Purchasing Power

Fixed-income investments such as savings accounts or bonds may fail to keep pace with inflation, resulting in a decrease in the real value of your savings over time.

2. Erosion of Savings

Inflation can lead to higher costs for essentials like food, housing, and healthcare, putting a strain on your budget and financial stability.

3. Increased Cost of Living