Tuesday, March 02, 2021
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Why Should You Save? Saving is important. The list of reasons should motivate one to start saving. Savings should be stored in a safe place, preferably a bank or saving institution which will allow you to: Earn interest and help your money grow; Reduce the temptation of spending irresponsibly; Make safer payments that are less time consuming and less expensive; Establish a relationship with the Bank; Enjoy services offered by banks such as access to loans; Have enough funds to cover living expenses in the event of a disaster or sickness; Pay for university/college expenses, wedding, buying a home and for a comfortable retirement, among others. Develop a habit of saving. Read the Full Story
Why Should You Invest?   Investment is putting money into something with the expectation of returns within an expected period of time. Investment is related to saving or less spending. You can add to your future income by having your money do the work for you. Investing should always be done with the aim of ‘growing your money’ by having it gain interest, which requires time.       Read the Full Story
What Is An Automatic Teller Machine (ATM)? The Automatic Teller Machine (ATM) allows you to deposit and withdraw money using the machine. Most Banks in Guyana operate ATMs. If you have a savings account with these banks you are offered this service. Once you accept this service you are issued with a debit card by the bank which you can use to deposit money into and withdraw money from your bank account using the ATM. You are also issued with a unique pin number which should be known only to you.       Read the Full Story
What To Do When You Receive Money? Let’s say that you have a job or any other source of income. For example, your friend or family member who lives abroad sends you $1,000 dollars. Read the Full Story



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