Money Mail 169 - Your purchasing power decreased 15% in 3 years
Keep The Change
00:00
How to Deal With Inflation
Money was created and therefore devalued. Regardless of what you believe to have caused inflation, know that it has been compounding at a rate of 5.5% for the last three years. As an example, a $70,000 salary after tax ACC and Kiwi save it is $52,809. But I asked the Reserve Bank New Zealand inflation calculator what would general CPI cost in quarter two of 2020 cost in quarterTwo of 2023. Now put very simply, given that inflation has been here, it just means that your money buys less. And we rely on our memories so much, but we probably fuck it up a lot because we can't actually think about all of these
Transcript
Play full episode
