Financial Glossary & Terms

Financial Terms & Phrases
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
#
3-in-1 credit report

Credit reports combining the data from the three major credit bureaus –Experian, TransUnion and Equifax – that allows you to compare and analyze details of your credit report side-by-side.

A
ACH Authorization

In online banking and electronic transfers, the ACH authorization provides access to the lender or credit […] Read more

Financial Life Hacks That ACTUALLY Save Money

Worried about money? Don’t worry; you’re not alone. According to a study conducted by the American Psychological Association, approximately 72% of the Americans are occasionally worried about money. Meanwhile, a good 22% are intensely stressed about their finances. If you’re one of them, you’re certainly not an isolated case. Still, you worry about the fact that you’re stressed about money. You need to pay your bills, settle your debts and prepare for retirement – all of which can seem too much to bear in this time of a financial crunch.

You’re not hopeless. You can still take control of your financial […] Read more

What are the Best Uses for Installment Loans?

There is no denying that the current financial environment is challenging for people with credit issues. The good news is installment loans are helping make funds more available when the need is high and the cash is low. Installment loans refer to the money lending service where you repay the amount borrowed over a specific amount of time, which may differ from three months to thirty years depending on the loan.

Unlike payday loans, which are paid in a single lump sum with high interest rate over a shorter period of time, installment loans are evenly spread throughout the term of […] Read more

The Best Businesses to Start This Year

Are you looking to supplement your day job income with a side hustle, or are you trying to transition into a new business that you can run right from your own home? All new businesses started small, but there’s a significant chance for success if you invest on the right knowledge, tools and equipment and make the time to research your market.

Micro-businesses and home-based businesses are predicted to flourish even more in the following years. Perhaps the best aspect of starting a small or home-based company is that they don’t require much start-up capital and you don’t need a Ph.D. […] Read more

Should You Rent or Buy a House

Owning a home has always been believed as the best representation of the American Dream. You get to have a property with perfectly-manicured lawn; white picket fence and an abode you get call Home, Sweet Home. But apparently, there’s a shift in perspective towards home ownership over the past years and more and more people, especially the current generation, are asking themselves: Do I rent or buy a home?

Apparently, this dilemma does not come with a standard, universal answer. More than two decades ago, people knew what life trajectory they wanted to pursue, and each milestone had a designated time […] Read more

Millennials Aren’t Using Credits Cards

If you were born sometime in the 80’s and your current age is between the mid-20s to mid-30s, you can call yourself a millennial, or what some people call the Generation Y. According to Deloitte Consulting Group, millennials describe themselves as goal-oriented, realistic, determined, tech-savvy and lifestyle-driven. These are the very same words we can use to describe about millennials and their finances.

According to CNBC Money, millennials are far better at handling their finances than their parents, the baby boomers. This is in line with the survey conducted by Charles Schwab which reveals that millennials are keener to creating a […] Read more

Do You Really Need a Credit Card?

Using a credit card is a matter hot debate for many people. Some would claim that using the credit card could leave users deep into debt which in turn deters them from achieving their financial goals. On the other side, people argue that credit cards help in building the credit history which is instrumental for future financing opportunities like getting a home or new car.

If you don’t own a credit card yet, you might wonder if you need one. The truth is, we all have different stances when it comes to credit cards. And how you determine whether you need […] Read more

Financial Milestones You Need to Hit Before 30

Warren Buffet said, “If you spend money buying things you don’t need, soon you’ll soon have to sell things you need for money.” You may not relate to these words early in your teens, but as you progress through adulthood, you will gain this stark realization. When you were younger, did you say “how I wish I can be an adult already so I can do the things I want?” Well, now that you are, you’ll also realize that being an adult is actually harder.

Living independently as an adult is an exciting and overwhelming phase. By now, you’re probably done […] Read more