The risk of having too much cash: inflation erodes your money’s value
Inflation’s silent creep can erode the true worth of your cash. If your savings are not matching inflation’s pace, you are losing buying power. Take Singapore’s beloved chicken rice example, in 2014, the average price was S$3.15 a plate. Mid of this year, prices went up to S$4.16 – a 32% hike in less than a decade. Your cash should work as hard as inflation does.How Much Does a Plate of Chicken Rice in Singapore Cost (in S$)
Source: Singapore Department of Statistics, CEIC Data, Syfe Research, 23 August 2023 ...