How will inflation affect your annual budget?
Inflation. Probably one of the most overused words in the last 1–1.5 years. However, unlike many of the economic buzzwords that we have seen lately, such as crypto or NFTs, that might have been interesting only to a very small group of people, inflation directly (and painfully) affects all of us. You feel it when you go to your local grocery store, pay for your haircut, negotiate your salary and of course, when you are putting together your annual party budget. But if you keep a couple of things in mind, and follow some basic rules, it doesn’t necessarily have to be all bad. You might be able to keep things afloat, balanced, or even one better: manage to gain a bit of profit.
So what major trends would be worth highlighting in terms of financial planning during these quite interesting times? Don’t want to overwhelm you all with long pages of analysis, so let me just pick 3 key points, that I believe can be very helpful.