Money taken out of your bank account, for example when you use your debit card or pay a bill via direct debit or standing order.

Money you owe, for example spending on a credit card or a loan you have taken out with a bank.

Money taken from your gross income, for example, tax and National Insurance.

The difference between income and expenses, when expenses are greater than income.

An agreement where money is automatically taken from your account on a regular basis by a service provider towards costs such as phone or electricity bills.