13 September 20
Reading time: 2 minutes
Posted by Tom Hartmann in WTFinance Te Ao Māori 1 Comments
We’ve rounded up some common financial jargon that makes people think: WTFinance does this really mean?!
A secure ‘chain’ of digital ‘blocks’ shared across a wide network of computers. Blockchains keep a trusted record of cryptocurrency and NFTs.
Virtual money that can be exchanged just like real-world dollars. But crypto can swing wildly in how much it’s worth!
Unique digital tokens that can’t be copied. NFTs can represent real-world stuff like property or art even. If you buy the NFT, the art is yours.
The privilege of paying more and more for something that’s worth less and less!
A score for you based on how well you’ve paid bills or repaid loans in the past. If you’re a high scorer, you’ll get the best loan deals.
The cost of using other people’s money. Stay on its good side.
What you earn (gross) and what you’re left with (net).
When your employer can’t pay you because of COVID-19, so the government chips in to cover the difference.
It’s not about getting a bargain. It’s about setting aside money for your future goals.
When interest earns its own interest, supercharging your savings.
You can get up to $521 every year from the government, just for putting money into your KiwiSaver.
When balances fall and you want to switch out of your fund – but it’s a bad idea to try to get off the rollercoaster midway.
What you get back in your pocket from investing.
Cheeky hidden costs that blow out the real price of stuff.
Tapping your KiwiSaver fund to tide you over in the short term. It’s a last resort, since it hits your long-term prospects.
What you own minus what you owe. It’s the way to really tell if you’re getting ahead moneywise.
Pressing pause on your loans for now, although they end up costing you more in interest. So this kind of holiday is best kept as short as possible.
Getting a break from repaying your mortgage, but the interest keeps adding up all the same.
Find more helpful explanations in the Sorted glossary.
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Comment (1)
Meriana Taputu
1:58pm | 17 Sep 2020
Tino harikoa ki te panui Maori e pa ana ki te ngā Topanga mini. Mahuru Maori. X
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