MJMaths LiBF Unit 2 Topic 1 Key Words

A pot of money that can be used to cover emergencies, such as unexpected spending, loss of income or unexpected bill

The most common form (in the UK) of collective fund allowing many investors to pool their money together

Managing day-to-day money to pay bills, buy food, save and pay for other essential spending

A form of borrowing offered by banks, etc. It allows cardholders to borrow money to pay for goods and pay back later

The process of managing money, including budgeting, banking, saving, investing and tax planning

The amount a person earns after deductions have been taken from the government, ie for tax and NI

A target; something that the individual wants or needs to achieve

Making plans to meet short-and long-term needs

One of the two main regulators of financial services in the UK. It sets the rules and standards that providers must meet

A loan to help people buy houses or flats. They can last up to 30 years.

Offered by banks etc. It is usually paid back over a much shorter period of time than a mortgage