Managing My Money Glossary
Glossary of terms used in Managing My Money.
Browse the glossary using this index
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A |
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Annual Equivalent Rate (AER)AER or Annual Equivalent Rate is the rate of interest on savings products calculated to take into account different payment patterns. | |
Annual Percentage Rate (APR)APR or Annual Percentage Rate is a summary figure for comparing debt costs which bring together interest rates and other charges. | |
AssetsEverything that a person owns that has a monetary value (e.g. property, investments or cash). | |
B |
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BankruptcyA process that happens when an individual cannot pay their debts, and all their property is distributed to the people to whom they own money. | |
BondA certificate of debt that is issued by a government or corporation in order to raise money. | |
Bridging loanA temporary loan to extend further funds during the selling of one property, when the seller has already acquired another. | |
BrokerA broker is a person or firm that helps to arrange the sale of products from one party (the product provider) to another (the product buyer). The broker will normally charge a fee to the buyer of the product for this service. | |
BudgetA detailed plan of income and expenditure over a certain period of time - typically a year. | |
C |
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CompoundingThe process by which interest payments are added to the original amount borrowed to give a higher total figure which, in turn, attracts interest rate changes. | |