Do you remember a time when J$20 used to be a paper note? The Jamaican $20 bill was officially changed to a coin in 2000, symbolizing its decrease in value, as coins tend to be worth less than notes in a country’s currency. What if you have saved that $20 note under a mattress in 1995? At the time, it would’ve been worth about US$0.56. Today, it would only be worth US$0.13, and that’s not counting the loss in value due to inflation. What would it be worth if you had invested that $20 instead? Let’s look at investing vs. saving.
This week's Pop Quiz!!
Pop Quiz! If I saved $20 in the bank in 2000 at current interest rates, how much would it be worth now? If I had invested that $20 in stocks, how much do you think it would now be worth? The answer on today’s #MoneyMondaysJa
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