Rising inflation has caused many people to take a closer look at their finances, but have you considered what it’s doing to your savings and emergency funds?
A saved amount of $20,000 in 2020 would need to be $22,217.19 today in order to maintain the same value. Even high yield accounts struggle to keep up, but this depreciation is hard to notice as it’s happening.
Luckily, keeping up with inflation doesn’t have to be difficult. These three habits can help you easily stay one step ahead with your savings: