In July, I wrote the blog post “Cash is king now”. Two months later, the trends covered in the post have advanced faster than anyone can predict. Everywhere we hear people saying, “Inflation makes everything expensive. I need more money!”

Inflation stress far more contagious than Covid-19

As of this writing, Singapore has close to 2,500 daily new cases. However, the mental stress from higher outgoing expenses and lower spending power is far more contagious than Covid-19. Under Singapore’s highest inflation in 14 years, every day we are bombarded with talks of inflation: Journalists write about tips to save money. Colleagues complain about higher petrol prices and private hire fees. Parents grumble about rising utility bills and household expenses. Even children talk about inflation in school after they pick up the word at home. Do we all have financial pressure from inflation? Not really. But this inflation virus is so contagious that most of us are infected by it....