Every month your bank will send you an account statement. This summarizes
how much you have gone in and how much have been taken out.
A yearly fee (in addition to interest) charged by institutions on
credit cards, bank accounts, etc.
Item of value, such as cash, investments or property.
Automatic Teller Machine (ATM)
Bank machines, which dispense cash from bank accounts, without the need to go to the counter.
Automatic Teller Machine card (ATM
The card your bank provides you with to access funds from your account,
An income investment (also known as a fixed interest/profit investment)
representing a loan of money from a lender to a borrower for a set
time period. It pays a fixed rate of interest/profit.
The work someone undertakes over a period of times, which provides
A measure of the money a person receives and spends.
How a person manages money (cash) coming in and going out.
Earning interest on interest previously earned.
Money a person earns.
An increase in the price of goods and services.
Financial protection against financial loss; and arrangement where
an insurance company agrees to pay an amount of money to the insurance
policy holder if a defined event occurs, in exchange for an insurance
premium being paid.
The payment made to an insurance company in exchange for protection
or financial help if (agreed) circumstances or events occur.
The amount borrower pays to a lender, in addition to the amount borrowed.
Interest free period
Period during which no interest is charged.
Banking transactions and enquiries that are conducted over the Internet.
An asset acquired for the purpose of producing or generating income
or capital gains for its owner.
Debts or financial obligations.
The length of time covered by a loan.
An investment that pools money from several investors and uses it
to buy a particular type of investment, such as shares.
The essential or basics of life.
The amount of someone's income that they can use or spend; the amount
remaining once tax and payroll deductions are made.
PIN number (Personal
The personal code or number that a customer receives from their
bank, to assist them in accessing banking services such as ATMs,
Internet and Phone Banking.
Banking transactions and enquiry that are conducted over the telephone.
PYF (Pay Yourself first)
A method of saving.
Rate of return
How quickly money in a savings or investment account grows.
The amount received or earned on money which has been invested.
The chance that you may not receive the returns you are expecting
or that an unfortunate event will occur.
The various ways or strategies used to manage potential personal
or financial loss.
Rule of 72
A rule used to estimate how long it takes for money to double in
Money set aside to achieve your goals or future consumption.
An investment, that represents ownership in a company or corporation.
Items, activities or services that are desired (rather than required)
to incrase the quality and enjoyment of life.