Blog onPersonal Financefor Guyana
Everything you need to start saving and investing in Guyana, explained simply — the NIS pension, deposit insurance, home loans, banks and credit cards. Pick a topic below and you are away.
What is a savings account and how much does it pay?
A savings account keeps your money safe and pays interest that changes over time. How the interest, the 20% withholding tax and the Deposit Insurance Scheme work — and when a savings account is enough.
Read the full article →What is compound interest and how does it work?
Compound interest is return on your return — the engine behind long-term saving. Here is the formula, how big a role time plays, and how to use the rule of 72.
Read the article →Investing in Guyana: a guide for beginners
From a savings account to unit trusts, an approved pension scheme and shares on the GASCI — a step-by-step guide for anyone who wants to start investing in Guyana from scratch.
Read the article →What are unit trusts and mutual funds, and how do you choose?
Equity funds, balanced funds, money-market funds and bond funds — how the different types work, what the management fee means over time, and how to avoid the expensive options.
Read the article →Savings accounts, fixed deposits and bond funds compared
For money that needs to stay safe there are several routes — savings accounts, fixed deposits and bond funds. How they differ in risk, return, access and tax.
Read the article →What is the Deposit Insurance Scheme and what does it protect?
The Deposit Insurance Scheme protects your money in a bank or building society if it fails — up to G$2,000,000 per depositor, per institution, per ownership category. How it works, and how much is covered.
Read the article →Commercial bank, building society or credit union: which should you choose?
Commercial banks have the widest product range and branch network, building societies focus on mortgages and savings, and credit unions are member-owned. How to weigh the pros and cons.
Read the article →How to choose your first bank account in Guyana
Your everyday account is the hub of your money. How to compare fees, the debit card or debit card, the app, minimum balances and online banking — and avoid the costs that slip past.
Read the article →What is a credit report and a credit score in Guyana?
When you apply for a loan, credit card or hire purchase, a credit check is done. How the credit bureaus work under the Credit Reporting Act, what stays on your file, and how to check your own report for free.
Read the article →How credit cards work in Guyana
The grace period, the statement, the minimum payment and interest — how a credit card works step by step, and how to use it without it costing you a lot.
Read the article →The interest rate and the cost of credit: how to compare loans in Guyana
Guyana does not have a single mandated APR figure, but lenders must disclose the interest rate and all fees. How to add them up and compare loans, cards and hire purchase fairly.
Read the article →Credit card, debit card or debit card: which should you use?
A debit card and a debit card take the money straight away; a credit card gives a grace period and stronger purchase protection. How to choose for everyday spending, online and travel.
Read the article →The NIS pension: age, contributions and how much you get
The contributory NIS Old Age Pension is paid from age 60 with at least 750 contributions. How it works, how it differs from the universal Old Age Pension, and why you need savings on top.
Read the article →Emergency fund: how much do you need?
An emergency fund of 3-6 months of expenses protects you from unexpected costs without expensive debt. Guyana has no unemployment benefit, so it matters even more. How to work out your figure and build it.
Read the article →Financial independence: how to calculate your number
Financial independence means your investment returns cover your spending. How to use the 4% rule, how much your savings rate matters, and how to account for tax, inflation and the NIS pension.
Read the article →How income tax, PAYE and statutory deductions work in Guyana
The personal allowance, the 28% and 40% PAYE rates, the 5.6% NIS deduction and the 14% VAT you pay on spending — an overview of what comes out of your pay.
Read the article →Home loans and the New Building Society in Guyana
How a mortgage from the New Building Society or a bank works, how the CH&PA house-lot and low-income schemes fit in, and the first-time-homeowner tax relief you can claim.
Read the article →What happens if you lose your job in Guyana
Guyana has no unemployment benefit. What severance pay the Termination of Employment and Severance Pay Act gives you, what public assistance is and isn't for, and why an emergency fund is the main safety net.
Read the article →18 articles available · Informational content, not financial advice.