Bankrupt: when a person is judged by a court to be.
Cash Flow: money coming into and going out of a business.
Commission: the percentage of a sales price received by a salesperson for her or his services credit bureau an organisation that keeps on file the credit records of consumers.
Creditor: a person who is owed money.
Debtor: a person who owes money.
Default Notice: a document from a lender stating that a person has failed to carry out the terms of the contract dividend sum payable as profit for shares.
Equities: stocks and shares held by an individual.
Fee: money paid to others for their services.
Fixed Expenses: expenses that are the same amount every time.
Garnisheed when a certain amount of money can be taken out of a borrower’s wages.
Guarantor someone who guarantees to pay back the money if the borrower does not.
impulse Buying buying something without giving much thought as to whether you really need it.
Income money received on a regular basis from work, property, business, investment or welfare payments.
Insolvent: I.e. some who is able to pay their debts.
Interest a payment made for the use of money that has been borrowed.
Investment putting money into something in order to make a profit.
Mortgage a loan for goods or a property.
Net Income the amount a person has left after income tax is deducted.
Overtime time during which work is done outside regular working hours. Such time is usually paid at higher rates.
Portfolio a range of low-risk and high-risk financial investments.
Premium the amount of money to be paid to receive insurance cover.
Profit what remains after all business expenses are deducted from sales revenue.
Rent regular payment made by a tenant to an owner for the use of the owner’s building or land repossess to take back goods bought on credit if repayments have not been made.
Royalty a sum paid to authors, musicians and so on, as a percentage of the proceeds from their work.
Salary a fixed amount of money paid on a regular basis (usually fortnightly or monthly) to a permanent employee of an organisation savings plan a commitment to regularly put aside some money for future use.
Secured loan something deposited as a guarantee to fulfil the payment of a loan.
Social Welfare payment a payment made by a government to help people in need.
Superannuation a way of saving so an employee has some money in retirement.
Unsecured Loan: nothing is deposited as a guarantee to fulfil the payment of the loan.
Variable Expenses: expenses that change over time.
Wage: money received by workers, usually on a weekly basis, for services they provide to an employer.