Are you feeling the heat from rising prices of late?
Singapore’s core inflation in May hit its highest level in more than 13 years, with rising prices of food and utilities.
MAS and MTI said that core inflation is forecast to pick up further in the coming months. External inflationary pressures continue to be strong amid elevated global commodity prices, as well as supply chain frictions driven by the Russia-Ukraine conflict and the COVID-19 situation.
Rapidly rising prices in our economy cause everyone's wallets to shrink and it can be a reality check for all of us who falter with money management. Hence, it is significant to start reviewing our spending habits and adjusting our expenditure plans according to the prices of goods and services in the market.
If you haven’t started, when’s a better time than feeling the heat of rising prices to make plans for your finances?
Here are a few pointers on what to do to hedge against inflation.
While the finexis team did an excellent job to highlight these points, I also 3 value-added tips to help you safeguard your personal finance in the midst of an inflation. Read them here: https://www.gladystanjy.com/post/3-tips-to-safeguard-your-personal-finance-in-the-midst-of-inflation
We can manage our money and make wiser decisions about our finances to beat inflation.
Do you have more questions or concerns about your personal finances in times of uncertainty?
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