Inflation

Assuming my wages broadly keep up with inflation (big assumption, I know), am I wrong to think that it’s actually a good thing for me?

I don’t have a great deal saved in cash so won’t be losing any purchasing power there, and have a pretty big mortgage.

Seems inflation is mostly bad if you have cash vs good if you have debt? My mortgage has 4 years to run on a fixed deal so no impact of interest rate rises.

I know my opening assumption is a big one, but otherwise, am I missing something obvious?

Posted By: SimonOTBC on June 27th 2022 at 08:44:53

Message Thread

Inflation (General Chat) - SimonOTBC, Jun 27, 08:44:53
- Inflation is a disaster (General Chat) - matgore, Jun 27, 11:57:29
  - I'd thought Simon was really limiting the lens to the individual circumstance (General Chat) - trafford_canary, Jun 27, 12:31:47
    - It can affect individual a lot (General Chat) - matgore, Jun 27, 12:43:37
- Depends if you are an "average" person I guess? (General Chat) - trafford_canary, Jun 27, 09:14:29
  - Yeah - we’re in a fortunate position of not having overstretched (General Chat) - SimonOTBC, Jun 27, 09:22:09
    - *if you’ve got a lot more debt than savings (n/m) (General Chat) - SimonOTBC, Jun 27, 09:30:03
      - Yes definitely. I am very lucky (General Chat) - trafford_canary, Jun 27, 09:33:42
- High inflation is a disaster (General Chat) - paulg, Jun 27, 08:59:03
- As I is well old grandad innit I remember back in the 70s (General Chat) - Old Splat, Jun 27, 08:53:19
- What will interest rates be in 4 years time? 😬 (General Chat) - SCC 28, Jun 27, 08:48:28
  - As long as you're not interest only you're payments could balance (General Chat) - trafford_canary, Jun 27, 09:16:55
    - So long as you’re not downsizing you can port your mortgage (General Chat) - SimonOTBC, Jun 27, 09:20:31
      - Yes this is very true!! I KEEP forgetting that (General Chat) - trafford_canary, Jun 27, 09:24:53
        
        👍 the only downside is you’re stuck with the same lender (General Chat) - SimonOTBC, Jun 27, 09:29:35
  - Banks don’t seem to be forecasting a long term rate hike (General Chat) - SimonOTBC, Jun 27, 08:50:22
    - GTFI (n/m) (General Chat) - SCC 28, Jun 27, 08:53:37
      - Also.... (General Chat) - SimonOTBC, Jun 27, 08:55:38
        
        Mentally ticking off the days till the 30 hour free childcare comes in (General Chat) - trafford_canary, Jun 27, 09:20:33

Reply to Message

In order to add a post to the WotB Message Board you must be a registered WotB user.

If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.