5 Questions
What does Warren Buffett suggest about saving and spending?
Spend what is left after saving
What is the impact of 5% yearly inflation on expenses over 20 years?
₹1,00,000
Why is investing suggested as a safeguard against inflation?
Inflation erodes the value of savings
What is the practice of assessing one’s current financial situation and drawing a financial plan to reach future life-stage goals called?
Financial Planning
What are the steps involved in financial planning?
Invest accordingly, Define financial goals, Assess current financial situation, Create asset allocation and evaluate risk
This quiz explores the impact of inflation on savings over time, using the example of a 5% yearly inflation rate. It also discusses the importance of investing to combat the erosion of savings due to inflation.
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