Inflation is High in India: Inflation has reached its peak in the country and the world. Now its effect has started affecting both the employed and the businessman. In this time of crisis, you are getting worried about investing and saving your money. Due to the rise in inflation, the value of your savings is decreasing significantly. Today every second person is thinking about investing and saving his money. After all, how could he continue his savings in this period? For this, you have to take special care of some things, which we are telling you in this news.
Personal Inflation Rate
In today’s era, you have advanced mobile apps or management tools, with the help of which you can calculate your expenses. Make sure to compare the expenses incurred today compared to the previous day. So that you know how much you spend every time in taking the right decision at the time of inflation.
Let us tell you that consumer inflation is quite different from personal inflation. This includes expenses such as an 11-14% increase in the price of food and a drop in the rent. You can understand very well the increase in all these expenses.
Focus on spending less
In such a situation, you have to avoid spending on non-essential things. To do this, you can check your bank or credit card statement.
follow this rule
You can follow the very popular 50:20:30 rule. Under this rule, 50 percent of the total income left after paying tax should be spent on essential things, 30 percent for fulfilling one’s desires and 20 percent should be saved.
real return scheme
You do not get the benefit of better returns on Fixed Deposit (FD). So you have to spend your savings on only those schemes where you get guaranteed real returns.
View Before Investing
In such a situation, you have to invest your savings in the stock market. So first it has to be checked that how is the business of the company going. You must do research about the brands of the companies.