Tip of the Day #3: Interest vs. Inflation
When investing money to profit off of the interest, make sure the interest rate you’re getting is higher than the average rate of inflation. Otherwise you’ll only end up having a larger sum of money in the future that’s worth less than your current money is worth right now.
- Investopedia: How Inflation Policy Affects You (wire.kapitall.com)
- Savers losing £18bn a year due to inflation and low interest rates (telegraph.co.uk)
- Effects of Inflation (christianpf.com)