“Life is what happens to you while you are busy making other plans.” John Lennon
And inflation is what happens to you whether or not you have made those plans. So it’s a good idea to pull up your socks in case you haven’t.
Look at it this way, you have Rs. 100 which you pay for your daily commute to work. It’s from the savings you have made over the years that’s lying unused in your account. A year later, however, the same Rs. 100 doesn’t afford you the same ride. That’s because its worth has gone down to Rs. 91 with an inflation rate of 9%* and petrol costs have gone up and increased the daily fare.
*for illustrative purposes only
If you have some plans for the future that need you to put aside some money now, click on the SIP Calculator to check how much you need to save.
May the growth be with you!