Managing my money
Managing my money

Start this free course now. Just create an account and sign in. Enrol and complete the course for a free statement of participation or digital badge if available.

Free course

Managing my money

Managing My Money Glossary

Glossary of terms used in Managing My Money.

Browse the glossary using this index

Special | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL

Page: (Previous)   1  2  3  4  5  6  7  (Next)


Joint tenants

Two or more people who own a property together. The joint tenants do not own distinct shares in the property.


Key Facts Illustration (KFI)

Details the features, terms and conditions of a mortgage on a standard basis, enabling comparisons to be made between different lenders' products.


Liquid assets

Those assets that can be quickly converted into cash.

Loan-to-value (LTV)

A measure of a loan (or mortgage) as a proportion of the lender's valuation of the property on which the loan (or mortgage) is secured.


Means tested

Means tested refers to payments that are made only to those who are assessed to have a certain level of income or less, and in some cases, a certain level of assets or less.

Mortgage indemnity guarantee (MIG)

An insurance policy that insures the lender for any losses on lending above a defined minimum loan-to-value sum. This is charged to the borrower.


National Insurance contributions

Contributions from both employees and employers, which form the basis for paying state benefits related to unemployment, sick pay and pensions.

Net income

Income after deductions such as Income Tax and National Insurance.

Nominal value

The face value of a bond. The amount, excluding interest, the investor gets back on the maturity of the bond.


Opportunity cost

The cost of doing or having something measured in terms of the best alternative foregone (done without).

Page: (Previous)   1  2  3  4  5  6  7  (Next)


Take your learning further

Making the decision to study can be a big step, which is why you'll want a trusted University. The Open University has 50 years’ experience delivering flexible learning and 170,000 students are studying with us right now. Take a look at all Open University courses.

If you are new to University-level study, we offer two introductory routes to our qualifications. You could either choose to start with an Access module, or a module which allows you to count your previous learning towards an Open University qualification. Read our guide on Where to take your learning next for more information.

Not ready for formal University study? Then browse over 1000 free courses on OpenLearn and sign up to our newsletter to hear about new free courses as they are released.

Every year, thousands of students decide to study with The Open University. With over 120 qualifications, we’ve got the right course for you.

Request an Open University prospectus371