My thoughts went back to the conversations we used to have amongst ourselves while we were kids about how just a million of our national currency could change our life and make us rich. Currently seeing how things are and how a million of your national currency will not be enough to change our economic situation completely and make us rich, were we just being kids then and didn't know much about the value of money, or have things become really bad and times changed that one million of our national currency does not have value as much as it used to have?
Absolutely! Inflation is an extremely significant issue to consider when determining the worth of money. Simply explained, inflation is the gradual rise in the cost of goods and services over time. This means that as time passes, the same quantity of money will purchase less and less. Several variables can contribute to inflation, including a rise in the availability of cash, rising salaries, and an increase in the cost of providing goods and services. This can have a severe influence on individual standards of life since their buying power drops. Even if you have the same quantity of money, its worth might drop owing to inflation, which impacts the value of money.