#MoneyLosesValueOverTime #MakingFinanceFun #InflationKillsIt
We have started the Fun & Finance series with an aim to make finance more fun and relatable via short 1 min stories by using fables or interaction with customers etc. We will try our best to help you learn something new in finance via these short stories.
The 19th day of the lockdown has come to an end. And as promised, here is a fable to compel you to invest your savings for future growth.
Once a Miser found some gold and he buried it in a secret place in his garden.
Every day he went to the spot to dig up the treasure and to count it piece by piece just to make sure that it was all there.
The Miser made so many trips, that a Thief guessed what the Miser had hidden. And one night, the Thief quietly dug up the treasure and took off with it.
When the Miser discovered his loss, he lost all hope as grief struck him hard. He cried and tore his hair in despair.
A nearby passer heard his cries and asked what had happened. “My gold! Someone has robbed me!” he cried.
The Passer replied: “Your gold! In that hole? Why did you not put it in your house where you could easily get it when you had to buy things.”
“Buy!!!” screamed the Miser. “I have never touched the gold, I couldn’t think of spending it.”
Then the Passer threw a large stone into the hole. Saying “If that is the case, cover up that stone. The Stone is worth just as much to you as the treasure you lost!”
A possession is worth no more than the use we make of it.
See how the Miser lost his treasure. Apparently, something similar happens to our savings but it is not that prominent so we ignore it.
The money you save and keep in the form of cash or in a savings account losses its value over time.
Inflation is a silent killer. You might not feel it on a daily basis but in the long run, the real value of your money gets washed off.
Your savings are taking an inflation hit. You need to do something about it.
If you want to beat inflation, then you have to invest it in assets which will provide you with a return that is greater than the inflation rate in India.
Moreover, you deserve excess return over the inflation rate, so it helps you build wealth.
At RefreshMint, we have a setlist of investment options that will not only beat inflation but also create wealth for you.
Email us to understand more about how inflation kicks your money in the gut and how you can strengthen your assets.