03/02/2023
Have you been feeling the pinch, or perhaps some would say the punch, from the effect of inflation in the food and services we purchase? Averagely, inflation was 5% in the last quarter 2022, and its effect has been intensified due to domestic pressure from increase in GST starting this year.
For many families, this can add a lot of pressure because what used to be discretionary spending, now has to be used for daily necessities. This is especially for families that are caught in the sandwiched generation, or big families with only 1 breadwinner.
I really like the practical tips that this article shares that can help manage our spending and and find ways to create emergency funds in a high inflationary environment. What are some that you could apply and what are other ways that you know could build an emergency fund in an environment like ours today?
Inflation is taking more money out of consumer pockets, but there are still effective, overlooked ways to save for a rainy day and build an emergency fund.
