Do you know how much you have left at the end of each month? Do you need to send an income and expenditure to a creditor? We've got you covered. Our budget planner provides you with a simple and free way to view and track your spending.
Terminology.
Wondering what a word means? We've got that covered too.
We try to keep the jargon to zero but there are words that you will need to know the meaning of. Did you know the word "mortgage" means "death pledge" in Old French?! Spooky. Anyway use below to find words that you may not understand the meaning of. We got you.
L
Leverage
Cutting to the chase, Leverage is using borrowed money to make you a profit after all costs. For example, borrowing money to purchase a property that you sell on for profit.
Liability
A Liability in financial terms is simply something that costs you money or is a cost to you overall. If you have a property that is not rented out i.e., you’re paying the mortgage every month, it would be considered a liability. Many also mistake a vehicle as an asset, but it’s a liability.
Logbook Loan
Logbook loans are loans secured to your vehicle. In a nutshell, this means the lender “owns” your vehicle until you pay back what you have borrowed. This is generally overlooked as the car stays in your possession and you continue to drive the car or use it day to day.
In a state of panic?
You're not the first and you won't be the last to panic about debt. Your mind starts thinking all sorts. "Will I lose my house?" "Will a bailiff turn up at my door?" When managing your finances your mind should be calm. We have an article for you that will help you calm your mind first and then you can see how easy it is to understand your situation and solve it.