If you are from this planet you must be aware of Turkish Delight(TD), if not
google it order it and enjoy it.
Now while enjoying TD have a look on these headlines :
"Turkish inflation surges to highest level since 2002"
"Turkey Reports 36 Percent Inflation Rate, Food Prices Rise by 43 Percent Compared to 2020"
In simple terms Inflation is a phenomenon which makes things costly from hair pin to flight tickets. One major reason for this is excess of cheap money in economic system.
Today all the Central banks( like Federal Reserve) around the world have printed hell lot of money to support their economy.
But you know "Anything in excess is bad for health". So the excessive printing of money has caused overflow of money in the economic system which has kind of similar effect when you consume lot of ,too much, very much chocolates.
Now you must have understood what Inflation is and what it can do?
When you look at what's happening in Turkey while enjoying Turkish Delight
Let me present some not so good facts about inflation.
As the news article above said inflation in food items rise upto 43% what this means is -
The TD which cost 100 Lira/box( Turkish currency) earlier now costs 143 Lira/box.
Take the case of your iPhone instead if it were a food item 1000$ iPhone would now cost 1430$ just because there is enough money in the economic system.
Did you get any of the excessive printed money in your bank account? I guess no. But still you are the miserable.
The lesson is we are all connected to whatever goes on around the world. We need to find ways to growth our wealth and beat the beast called Inflation.
If you keep your money with the bank it will give you say a 5% return annually so your 1000$ becomes 1050$ only but your iPhone costs 1430$.
Therefore save before you spend and invest the saving in instruments(real estate, stock markets, gold, index funds) which you understand. Getting wealthy takes time but is a definite path.
When you become financially independent do visit Turkey and enjoy Turkish Delight it is a beautiful place to visit.
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