Dear readers, the stock markets have turned more volatile on the back of the interest rate hike development, geo-political developments over Ukraine and the ongoing Covid-19 situation. The US stocks markets have gone lower in recent session. In fact, the Dow Jones, S&P 500 and NASDAQ Composite went down significantly yesterday, by respectively 1.38%, 1.84% and 2.57%.
Also, it was reported that Singapore’s core inflation has risen to 2.4% in January 2022 on a year-on-year basis, the highest level in more than nine years.
What it means is that consumers will have to spend more in general on essential goods due to higher inflation. And for investors, the volatile stock markets meant that there are now more risks associated with the stock markets so much so that investors have to be very wise about their investment else the stock they invest in may just head south the moment they buy the stock.
One thing that consumers and investors can do now in the current environment marked by higher inflation and more volatile stock market environment is to continue to Save.
Every Savings will help accrue to a larger savings and hence don’t be discouraged that you may not be saving much on the back of rising inflation. Where possible, one can always reduce one’s discretionary expenditure.
Also saving up is always useful as if there are opportunities that are available in the stock markets, an “investment warchest” in terms of your savings will always be very valuable in times where Cash is King.
To start Savings, one must always track one’s cash inflow and cash outflow for we cannot measure how much we save if we do not track our savings.
So start today, with a simple spreadsheet to track, measure and grow your Savings!
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