20 August 2022, 21:37
(20 August 2022, 16:27)Straight Shooter Wrote: .........so if you had savings account with say 10k in it ....it will be worth £8.500 by years end or that’s what your buying power would be reduced to .....trouble is people still look at the balance amount on their statements and still think they have 10k when they Do Not in reality, they just do not understand how inflation works to undermine their savings and rob them blind ! In a stealth creepy way ....it’s not that things are going up in price , it’s more their currency is loosing its value ! .
SS you, I and others have posted advising people if they have savings and need ANY preps (solar panels, wood burner, ton of housecoal etc) get them NOW while they are available and while they are still affordable.
You need to keep some cash at home incase the banking system breaks down or cash machines suddenly stop working, and some for emergency building work or if a medical problem occurs, invest the rest in your preps, you’ll probably save money in the long run.