I know a friend who will always like to get all incomes upfront.
He’s not greedy, he’s not distrusting. He states clearly that what the money can do in January, it may not be able to do in December.
And there’s no better time to understand this than in the year 2022 when the whole world is shouting “inflation.” If you visit London UK, take note of the price of train or bus tickets. Come in a year’s time, it would certainly have gone up. The system adjusts for inflation. It shows clearly that though the transport service provided is the same, the value of the money you are spending to access the service is continually going down.
The lesson is that anything you have to do with money, do it quick. The value of the money in your hand (and in your bank account) keeps going down with time even when inflation is small. What it can do in January, it may not be able to do in December.
Have you got a copy of my book In The Long Run? It’s about retirement planning, and the earlier you start planning, the better (time value of planning? 😉 ). You can get it on Amazon, on Konga or at Roving Heights Bookshops.
Image by Michael from Pixabay