Glossary


Browse the glossary using this index

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B

Balance

The amount of money left in a bank account once all bills have been paid.


Bank

A financial institution which holds money and manages transactions on behalf of account holders.


Bank account

A secure financial arrangement with a bank allowing you to add and manage money.



Benefits

Money from the Government, for example to support people with children, or on low incomes, with disabilities or caring responsibilities.


Building society

A financial institution, similar to a bank, but owned by its members. Financial services offered include savings accounts, mortgages, and loans.


bonus

Extra money paid on top of your usual wages, often as a reward, for example for meeting agreed targets.


budget

A plan for how you will spend and save your money.


budgeting

Calculating how much money you earn, or need to earn, how you will spend it, and how much you must save to achieve financial goals.