Grab : What is stagflation? | Investing Nugget

Phew. Can I still prepare myself in case stagflation does come?

You can, and should! For one, make sure you have at least 6 months' worth of emergency funds to tide through stagflation if and when it occurs. It is also prudent tolook through your expenses to see opportunities to stretch your dollar, such as choosing more affordable alternatives.

Next, prioritise clearing your debts. Rising inflation often prompts rising interest rates (as part of a tightening monetary policy), meaning that it may become more costly to pay off loans.

In light of rising unemployment, choose to invest in yourself, even if you don't see immediate results. Keep learning and growing; upskilling helps you remain attractive to employers even if companies start laying off staff.

Lastly, grow your wealth through investing. With inflation reducing your money's buying power, you'll need tools to boost your income. Smart cash management tools like Earn+ are what you need. Earn+ has a projected yield of 2 to 2.5% interest p.a*. These expected returns earned with Earn+ help soften the blows of price hikes and that of the general economic downturn.

Wanna grow your emergency fund? Earn+ is perfect for supercharging your money for short-to-medium term timelines (such as 12-18 months)!

Earn more with Earn+ today.

*Projected yield and returns are not guaranteed or protected. Please refer to the latest projected yield and returns.