Smart Money Basics
This is the difference between how much money you earn and how much you spend.
What is income vs expenses?
This is the main reason people invest money over time.
What is to grow wealth?
This organization in Trinidad & Tobago helps people invest through pooled funds.
What is Unitrust Corporation (UTC)?
This financial institution helps individuals save, borrow, and manage money.
What is a bank?
This habit involves recording where your money goes each day or month.
What is tracking spending?
This concept allows your money to earn returns on both the initial amount and past earnings.
What is compound growth?
This is a type of investment where money from many investors is pooled together.
What is a mutual fund?
This number represents your creditworthiness and affects your ability to get loans.
What is a credit score?
This type of fund is used for unexpected expenses like medical bills or car repairs.
What is an emergency fund?
This is a place where shares of companies are bought and sold.
What is the stock market?
Mutual funds are considered beginner-friendly because they offer this key advantage.
What is diversification (or professional management)?
This type of card helps students build credit when used responsibly.
What is a credit card (or VISA Tertiary Card)?
This type of debt is used to invest in your future, like education.
What is good debt?
Investing in both local and international markets is an example of this strategy.
What is diversification?
This approach allows students to invest small amounts regularly over time.
What is monthly contributions (or systematic investing)?
This habit improves your credit score by ensuring bills are paid on time.
What is timely repayment?
This loan strategy reduces the total interest paid by paying more than the minimum amount.
What is early or accelerated repayment?
This is a warning sign of fraud where someone promises guaranteed high returns with little or no risk.
What is a financial scam?
This is the process of matching your investments to your short-term and long-term goals.
What is financial planning (or goal-based investing)?
This financial mistake involves using too much of your available credit limit.
What is overspending (or high credit utilization)?