Financial TerminologyWhat you need to know to have a great financial life

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.

Saving Moneyputting away money for future use

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

Making More Moneyinvestment: putting your money into a property, company, shares,

financial schemes, etc. and expecting a profit or item in return

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

Taxestaxes: a mandatory fee you must pay for buying and selling items;

this money goes towards the country you live in

Go have a great financial life!