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Inflation affects you by decreasing the purchasing power of your money. As prices for goods and services rise, each dollar you have buys less than it used to, reducing your standard of living. Inflation can also lead to higher interest rates, which can impact borrowing costs for items like homes and cars. Additionally, inflation can impact investments, as the real value of fixed-income investments may decrease over time.
The effects of inflation are often not directly felt but are played out over a long time, especially long-term investments are vulnerable to inflation.
At Horizon65, we created a mobile app that enabled you to check the effect of inflation on your savings.
Download our app and start gaining insight into your current and future finances.
Horizon65 for iPhone
Horizon65 for Android