Managing My Money Glossary
Glossary of terms used in Managing My Money.
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The process of establishing a fund to cover the costs of any potential financial loss.
State additional pension
A state pension available mainly to employees. The amount received varies from one person to another depending largely on their average earnings while the pension was building up.
Consuming products or lifestyles for social meanings attached to those products or lifestyles for others to see.
Two or more people who own a property together. Each has a distinct share.
The period of time over which a debt is to be repaid.
A sacrifice of something in order to have something else.
Collective funds that allow private investors to pool their money in a single fund.
An official definition meaning the tax years from age 16 to pension age. For example, a person whose state pension age is 68 will have a working life of 52 years.