Multiply India - Information on Financial Planning

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Inflation and the Value of Money

Click on the video link above to understand about how inflation impacts your life!

Let’s look at this thumb rule to better understand how Inflation works

4 Steps to know your money-

List your Needs– Calculate if you have the money to reach your goals and live a fulfilling life

Know the Value of your Goods– to know if the barter is fair and justified or not

Visit your bank to get your Debit/Credit card– to enjoy the freedom from carrying cash in crowded places

Calculate Time Value and Interest– to understand if you are profiting from lending or receiving money

Points to Remember

Points to Remember

The value of money may increase or decrease with time.
The value of money may increase or decrease with time. Calculate this change in the value of money before lending and borrowing money.
Banks give and charge a rate of interest on your deposits and loans.
Inflation is the rise in prices of goods and services over time.
Use the Rule of 70 to find out in how many years the value of your money will become half.

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