3rd August 2022
3 Ways of Protecting Your Savings From Inflation
TIP 1: WORK OUT HOW MUCH TO PUT ASIDE AS AN EASY-ACCESS EMERGENCY FUND
As a general rule, aim to cover your essential expenses for three to six months, or whatever you can afford. For example, bills such as energy, mortgage, rent, travel, and food costs, so that if the unexpected occurs, you will be prepared. And you’ll know exactly how much money you need to keep in cash (which is affected by inflation), so you can start saving any extra money in inflation-proof ways.
Tomorrow we will look at a further two options to consider when it comes to protecting your savings from inflation. However, if you can’t wait that long, get in touch with us and we will be happy to give you the advice you need.