Timeout to clear some perceptions
Beating Inflation.
Hang on there and lets get some facts straight, before we make a
mountain out of a molehill.
Currently, inflation is hovering around 6-7%, which means for every
$100 you spent for household essential goods as per CPI basket of
products, yesterday or last 3mths ago, now you have to spend
$106.
If you have 2 kids, wife and a HDB, you would probably spend an
average of $800/mth on CPI goods.
Thus at the current rate of inflation, it means you will spend
$848/mth or $48 more this month.
So, how can a household beat inflation?
Simple measures, for example, just an example - you take feeder bus
to MRT, 500-1000 metres from your home. It would cost you $2 per
day through and fro journeys, totalling $60/mth. Should you take a
short slow 15 min excersing walk to the MRT or back home, you would
save $60. Viola! you beat inflation, and need not dump money into
investments to match inflation.
Even if you are too tired after work to walk home, you would have
only $18 more to beat.
If you are driving, then you must have needed a car in your work
and would be either paid as expenses by the company, or if not, you
would be making enough profits to cover the cost and maintenance of
the car. Inflation too, will affect you, but at only $48, plan your
trips properly and you would have easily beaten inflation.
However, the truth of the matter about grouses and complain is
not about inflation, but rather, the high cost of luxury good we
aspire to have.
I too am human and understand the need for luxuries, but am sane
enough to realize that i must spend on only what i can afford, for
such products are expensive and are not essential to my life. I can
live without it, and it is not a daily item i buy regularly such as
TVs, Mps, sound systems, etc. It is a big ticket item, so we must
save up for that one-time purchase.
Should inflationary makes such items more expensive, then we must
look for alternatives - different competitive brands, or even
second hand, afterall, what we want that product for is the
happiness it can bring to us momentarily. New or used, no one knows
except yourself, even for a prada bag.
So do get it straight - its not the high cost of living
that we are suffering, but the high cost of our
aspirations.
No one, no society or govt has that kind of money to fund our
dreams, except we individually by ourselves. Society and govts can
only provide opportunities - education, social equality and
business ease.
Daily essential material goods are still within reach in
Singapore. No one dies of hunger or don't have a roof over his/her
head unless he/she stubbornly wants it that way for his/her life.
So don't let that 6% inflation rate or recession scare you
numb. It is not an unsurmountable figure or term as long as
you have brains, hands and legs.
I find it hypocritical to be told to downgrade your
aspirations/dreams and to settle for less while our ministers give
themselves pay raises indirectly funded by our dreams