Inflation is not just a modern word – it is a reality that consumers currently face not only in Bulgaria, but all over the world. With the increased prices of essential items such as groceries, clothing and other household items, it is becoming increasingly difficult to manage personal finances and stay afloat. For many, tracking expenses, budgeting and saving money has become a daunting task.
This is how the article in MoitePari about ViziWealth starts. It elaborates on the topic of personal finance management and how applications like ViziWealth can improve people’s financial life, so that they can survive in times of inflation. One of the main challenges of inflation is that the cost of living increases, but wages may not keep pace with rising prices. This leads to a decrease in purchasing power as we are forced to spend more money on the same goods and services. Inflation can also cause interest rates to rise, making it more expensive to borrow money for things like mortgages, credit cards and car leases. Also, inflation can make it difficult for us to plan for the future. The uncertainty of future prices makes planning, saving and investing for the long term much more difficult. This often leads to feeling like we’re living paycheck to paycheck and struggling to save for our important goals.
MoitePari further explains how automatic expense categorization can help us cope in the face of inflation. Some of the ways include expense tracking, budgeting, trends, savings. You can read more details here (in Bulgarian).
MoitePari has written that for many of us, periods of high inflation can be quite frightening, especially if we went through them earlier in life when we didn’t have enough information and resources to manage our finances well. But with the help of expense management apps like ViziWealth and its auto-categorization feature, managing personal finances in times of inflation can be significantly easier and more efficient. With easy-to-consume cost information, we can quickly identify our big expenses and make decisions to optimize our budgets. This helps us stay afloat during inflation and survive the economic crisis. MoitePari is not a bank or financial institution, but an independent intermediary of banking products for citizens. They consult people for free and help them choose the best offer from among those offered by the banks with which MoitePari has partner agreements. In addition MoitePari offers professional independent financial consultation. They are ViziWealth partners, who can offer financial services on demand.