The inflation rate in Kenya in Feb 2014 was at 6.68%. What that means is that your wealths buying power has reduced by 6.68%. So simply put, for you to maintain that buying power, your wealth needs to grow by 6.68%. For you to attain a higher buying power, your wealth needs to grow by over 7%. For those of you putting your money in accounts that do not earn you interest of more than 7%, honey, youre throwing away your money.... Youre not saving. Lets not even begin to think about those low-interest loans. Youre welcome.... :-) Have a money-wise weekend!
Posted on: Fri, 07 Mar 2014 06:55:59 +0000
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