Should we be preparing for long-term inflation?
Inflation could be here to stay, as problems with production in China, coupled with energy price rises look set to keep costs high…
Do you have any money put away for a rainy day? Savings rates are currently lower than they have been historically, but this doesn’t mean it’s a bad idea to build a buffer. Many people can struggle to save with other pressures on their salary, so setting up a standing order for when you’ve just been paid into a savings account is a good idea for maintaining discipline.
Questions you can ask to get in control of your savings
- How much do you already have in savings?
- Are there any events coming up where you will need access to your savings?
- How much will you need?
- When do you need this amount?
