You rascal! Master Hunjang will inspect your spending
A Joseon-era schoolmaster scolds your money habits and teaches finance terms
Get scolded by the MasterThe Master's Library
Today's Lessons
Compound Interest
πΎ SavingInterest that earns interest on itself, making money snowball. The earlier you start, the stronger it works.
Parking Account
πΎ SavingAn account you can freely deposit to and withdraw from that still pays interest β a parking lot for waiting money.
Emergency Fund
πΎ SavingMoney set aside for sudden blows β job loss, medical bills, urgent repairs. The cornerstone of any money plan.
Housing Subscription (Cheongyak)
πΎ SavingKorea's system for applying to buy newly built apartments. You build eligibility by keeping and funding a subscription account.
ETF
πͺ InvestingA fund holding many securities in one basket, built to track an index, and traded on an exchange like a stock.
Diversification
πͺ InvestingSpreading money across holdings, asset types, and points in time, so no single collapse ruins the whole household.
Pension Savings
πͺ InvestingA personal pension account you fill now to draw as income in old age. Tax benefits in exchange for locking the money long-term.
ISA
πͺ InvestingAn individual savings account that holds deposits, funds, and more in one place, with tax benefits on the gains inside.
Revolving Credit
β οΈ BewarePaying only part of your card bill and rolling the rest to next month β with high fees charged on the rolled amount.
Investing with Borrowed Money
β οΈ BewareInvesting with borrowed money. Gains grow larger, but so do losses β and time itself starts charging you interest.
Averaging Down
β οΈ BewareBuying more of a fallen holding to lower your average price. Done without a plan, it pours money into your losers.
Herd Trading
β οΈ BewareTrading on rumors, chat rooms, and crowd mood instead of your own criteria β the shortcut to buying high and selling low.