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.
M
Maxed Out
If you hear the phrase “I’ve maxed out my Credit Card”, it means the person has used up all available credit on their Credit Card. Maxed out is an informal way of saying that there is no more credit available to spend.
Mediation
Mediation is an alternative dispute resolution process. An unbiased person (a mediator) will oversee this process by speaking to both disputing parties with the aim to resolve the dispute without further action and in a fair manner to all parties.
Minimum payments
A minimum payment is the minimum amount your Credit Card provider will accept for you to pay towards your Credit Card bill each month. Anything less than this amount may incur fees. If underpayment continue over months, this could lead to a default on your credit file.
Mortgage
Keeping it nice and simple. A Mortgage is a loan, usually provided by a bank, that’s attached to a property. This means if you have a Mortgage, you won’t be able to sell your property without paying it all off.
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.