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Dear all,
In our last email, we discussed the causes of inflation.
Today, let’s talk about how inflation directly impacts your savings and what you can do to protect your hard-earned money.
As we mentioned earlier, inflation erodes the purchasing power of your money over time.
This means that the value of your savings decreases if the interest you earn doesn’t keep pace with inflation.
Let’s take a closer look at how this works with some simple math.
Imagine you have $10,000 in a savings account earning 1% interest per year.
At the end of the year, your account balance would be $10,100.
However, …
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