How much will my expenses be worth after inflation?
Ever wondered how much a morning cup of coffee would cost you after 15 years? Did it ever cross your mind how much your groceries will cost when you start a family after 5 years? Been saving up for that dream car yet never being able to cope with the price hike?
Reality Check: Inflation
The same things you buy today will not be worth the same in the future. Believe it or not, your money loses its purchasing power every single day.
Note: Central Bank has an annual inflation target of 3-5%
Use this calculator to compute for the future value of your expenses:
Note: Please input a whole number in the Inflation Rate field (eg. 1%, 2%, 3%, 4%, 5%). Placing a decimal number might generate an inaccurate calculation
Did you try it out?
Future amount with the same buying power = future amount you need to be able to buy the same things at present value
Inflation is sneaky because it can slowly degrade the purchasing power of your money. To make money work harder for you, so you are able to cope up with the rise of prices: ASK ME HOW
A note from the financial blogger:
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