SIMPLY knowing what terms like compound interest, debt, investing and risk mean is not enough to make someone financially literate. Young people need to practice making sound financial decisions before they leave secondary school, Kester Guy, chief executive officer of the Trinidad and Tobago Securities and Exchange Commission (TTSEC), says.
“Financial literacy is not demonstrated simply by knowing financial terms or being able to define saving, interest or investment. It is ultimately demonstrated through good financial habits, and habits are developed through repeated practice from a young age,” Guy told Express Business.
