Different ways to pay - A Flashcards
What does current account mean?
Current account – an account with a bank or building society designed for frequent use, e.g. regular deposits and withdrawals.
What does overdraft mean?
overdraft – the ability to withdraw money that you do not have from a current account.
What does expenditure mean?
expenditure – the amount of money you need to cover all your expenses/outgoings, e.g. your mortgage and bills.
What does shareholder mean?
Shareholder– someone who has invested in a company in return for equity, i.e. a share of the business.
What are does saving mean?
Saving – placing money in a secure place so that it grows in value and can be used in the future.
What does Investment mean?
Investment – speculative commitment to a business venture in the hope that it generates a financial reward in the future.
What does insurance mean?
Insurance – an agreement with a third party to provide compensation against financial loss in line with the conditions laid down in the policy agreement.
What does premiums mean ?
Premiums– regular payments made by an individual or company to an insurance provider in return for protection.
