What is Money
Currency
Savings
Investment
100
Define Money
a mode of payment accepted by both sellers and buyers for goods and services
100
What is the name of the currency used in the UK?
Pound Sterling
100
What is the tool used to track savings and expenditure
A Budget
100
Define Investment
a means of using your money to try to create more money in the future
200
Name 3 different types of money
Coins, Cash, Cryptocurrency
200
True or False Is this a real bill from Guyana?
True
200
If Jen gets $100 every week for a month and spends $40 every other week for transport how much savings does she have at the end of the month?
$320
200
Name 3 ways you can invest
House, land, business
300
True or False
This is a form of bartering
True. In many communities past and present people preferred to exchange goods instead of use traditional forms of money
300
What is the most widely used currency in the world?
US Dollar
300
What % of your income should you save?
At minimum, you should save 10%. Example if your salary is $3000 you should save $300 every month
300
How can investing benefit you
It can help you achieve a long term goal
400
True or False
A Credit Card is a loan?
True. The money spent on a credit card has to be repaid by the due date or else the owner has to pay interest
400
True or False. Trinidad and Tobago uses a 1 cent coin.
False. The 1 cent coin has ceased to be legal tender and is no longer being accepted as a form of payment
400
Name two places you can save
Credit Union, Bank, Piggy bank, Unit Trust, Sou sou
400
True or False
There is no risk in investing
FALSE
There are many risks which is why you must research and be sure you trust where you are placing your money
500
What is the word for the general increase in prices of goods and services?
Inflation
500
The exchange rate between currencies stays the same every day
No it doesn't. It fluctuates every day
One of the main factors that can cause currency fluctuation is inflation. When a country experiences high inflation, its currency becomes less valuable because it can buy fewer goods and services. This makes it less attractive to investors
500
Explain how a Sou sou works
An informal way for a group of persons to pool money and take turns earning a lumpsum of their savings. Originated from West Africa, practice in the Caribbean and Africa
500
What is a stock?
A stock is actually a piece of a company. It's not a physical piece, like a brick or window, but a part of the ownership of a company.