In today’s challenging economy with rising inflation, it is essential for people to be aware of the best ways to keep up the value of their hard-earned money. While investing in stocks or other types of securities is one of the most widely accepted methods of earning return on investments, there are other strategies one can employ to ensure your money retains it value over time.
Enter Savings Simulator, a free web-based simulation created by a nonprofit financial education institute. Through this simulation, users can utilize real-world money management scenarios to determine their savings goals and then explore the various methods available to help reach those ambitions. The simulated platform allows for users to “experiment” with a variety of simulated investment strategies to determine which option could best help them beat inflation.
The ultimate goals are for users to learn a variety of investment and savings strategies as well as acquire a comprehensive understanding of how that strategy will perform body their current financial situation. As an added bonus, the simulations use real-time data which helps to further increase their knowledge. The Return on Investment (ROI) feature helps one to determine the potential gain or loss of their savings account, while the beat-inflation feature gives users the ability to track and compare how various strategies compare with current inflation rate.
Overall, Savings Simulator is an interactive and visually interesting way for users to gain a better understanding of the various strategies invested to protect money from the erosive effects of inflation. Ultimately, users are allowed to play out simulated scenarios ranging from stocks to bonds to real estate, and are then presented a comprehensive understanding of which method works best to keep money from devaluing.
