Lanre Fatokun Something Good!
In the book Beat The Bank by Larry Bates, he says, “If you are standing still, you are actually moving backwards at the rate of inflation, compounded over time.”
Under your supposed watch, the prices of food, housing, transport, childcare, entertainment, clothing, vacation, communication, etc are surging forward. In little time, it is clear that what one could once afford without stress now requires much effort!
We can respond by cutting costs till we get to the level of autonomous consumption. At this point, even if we have no income, we will still have to spend.
What then do we do?
Increase Thy Capacity To Earn (The Richest Man in Babylon’s 7th Cure for a Lean Purse).
To attain a good balance, you need to continue to increase your earnings as fast as the rate of inflation.
If you run a business, sales must continue to go up.
If you are an employee, you have to continue to get raises.
If you have investments, make sure they are in sectors that reflect inflation such as real estate.
By all means, this year, do not sit and watch!
