HE CAUGHT THE GUY THAT TOOK MY MONEY
My friend John was a hard working man and
earns a decent wage.He has calculated what it will cost him to take
care of his family. To make things easy for him and his family, he
would always drop the money and his shopping list with the elderly
woman who ran the shop where he bought his grocery. She would package
all the items and send down to John’s house.
Then one day someone stole part of his money without him noticing that the money was missing. As usual, he gave the money to the woman who counted it and told him that the money was not complete. John was sure he came to shop with the right amount of money. This meant that someone had stolen his money.
John immediately dialed the financial emergency hot line MONEY-ONE-ONE.
A dispatch rider was sent to help him out. John briefed him about what happened and he immediately embarked on a search.
In less than an hour, the thief was found. His name was Mr INFLATION.
Mr Inflation takes a percentage of whatever you make every day. He does it subtly in most countries that you will not notice that he has taken your money.
In Africa, the average inflation rate is about 10%. This means that if you earn fifty thousand in whatever currency and you spend forty thousand on your basic needs like food, transport e.t.c and save ten thousand then inflation will steal ten percent from your grocery money leaving you with little or nothing to save.
Since you spend 40,000 on your upkeep, inflation will take 10% meaning that you need to reduce your savings by 4000. Thus instead of saving 10,000 you have only 6000 to save. It does not end there. Mr Inflation can also go to your bank and steal from that money in your account if you leave it in a savings account or invested it at less than the inflation rate.
The member of inflation team you must know and watch very well is the CPI.
The CONSUMER PRICE INDEX measure the amount inflation takes from you based on the basic necessities that you use. This means that whether you like it or not, you must make provision for inflation. You must make sure that your income every year increase by at least the inflation rate of your country for you to be safe from Mr Inflation. If you do not increase your income by at least the inflation rate of your country, then it will only be a matter of time before you move and start living below the POVERTY LINE.
You always wish for the good old days simply because inflation waits for you in the future. If you love your current life style or want to make it better, you must ensure that you increase you income by at least the INFLATION RATE OF YOUR COUNTRY.
Then one day someone stole part of his money without him noticing that the money was missing. As usual, he gave the money to the woman who counted it and told him that the money was not complete. John was sure he came to shop with the right amount of money. This meant that someone had stolen his money.
John immediately dialed the financial emergency hot line MONEY-ONE-ONE.
A dispatch rider was sent to help him out. John briefed him about what happened and he immediately embarked on a search.
In less than an hour, the thief was found. His name was Mr INFLATION.
Mr Inflation takes a percentage of whatever you make every day. He does it subtly in most countries that you will not notice that he has taken your money.
In Africa, the average inflation rate is about 10%. This means that if you earn fifty thousand in whatever currency and you spend forty thousand on your basic needs like food, transport e.t.c and save ten thousand then inflation will steal ten percent from your grocery money leaving you with little or nothing to save.
Since you spend 40,000 on your upkeep, inflation will take 10% meaning that you need to reduce your savings by 4000. Thus instead of saving 10,000 you have only 6000 to save. It does not end there. Mr Inflation can also go to your bank and steal from that money in your account if you leave it in a savings account or invested it at less than the inflation rate.
The member of inflation team you must know and watch very well is the CPI.
The CONSUMER PRICE INDEX measure the amount inflation takes from you based on the basic necessities that you use. This means that whether you like it or not, you must make provision for inflation. You must make sure that your income every year increase by at least the inflation rate of your country for you to be safe from Mr Inflation. If you do not increase your income by at least the inflation rate of your country, then it will only be a matter of time before you move and start living below the POVERTY LINE.
You always wish for the good old days simply because inflation waits for you in the future. If you love your current life style or want to make it better, you must ensure that you increase you income by at least the INFLATION RATE OF YOUR COUNTRY.
