a happy financial life
TRANSCRIPT
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Financial TerminologyWhat you need to know to have a great financial life
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MoneyRevenues: places you get money from and how much money you get from there; for example from your work or job
Expenses: what you are buying with your revenues, how much you are spending each week, month, year; for example rent, mortgage, food, etc.
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Saving Moneyputting away money for future use
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Banking
cheque: a payment that allows you to write out how much you would like to pay to a specified individual or company, also prevents over spending because it draws money from your bank account
transaction register: a way to keep track of all of your spending; a piece of paper that you fill out with all of your expenses
bank statement: a paper that the bank sends out every month to let you know of how much you spent that month and on what
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Making More Moneyinvestment: putting your money into a property, company, shares,
financial schemes, etc. and expecting a profit or item in return
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Plasticdebit card: a card issued by a bank allowing the holder to transfer money
electronically to another bank account when making a purchasecredit card: a small plastic card issued by a bank, business, etc. allowing
the holder to purchase goods or services on creditcredit rating: an estimate of the ability of a person or organization to
fulfill their financial commitments, based on previous dealings. Definitions from google definitions
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Taxestaxes: a mandatory fee you must pay for buying and selling items;
this money goes towards the country you live in
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Go have a great financial life!