Personal finance

A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "defined benefit plan", where defined periodic payments are made in retirement and the contributions to the pension are adjusted to support these defined retirement payments, or a "defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund.

thumb|403px|right| Saving is income not spent, or deferred consumption. In economics, a broader definition is any income not used for immediate consumption. Saving also involves reducing expenditures, such as recurring costs.

practices that promote simplicity in one's lifestyle; common practices of simple living include reducing the number of possessions one owns, depending less on technology and services, and spending less money

1997 book by Robert Kiyosaki and Sharon Lechter

collection of financial investments

Incentives are anything that persuade a person or organization to alter their behavior to produce a desired outcome. Incentives are widely studied in personnel economics, where researchers and human resource managers examine how firms use pay, career opportunities, performance evaluation, and other mechanisms to motivate employees and improve organizational outcomes. Higher incentives are often associated with greater levels of effort and higher levels of performance. In comparison, disincentives discourage certain actions.

total assets minus total outside liabilities of an individual or a company

obsession with shopping and buying behavior that causes adverse consequences

financial tasks that an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events

prepaid-stored-value money card

term

payment

loans given to students for education-related expenses

the agreement between a financial institution and its client

accumulation of sufficient resources to not need employment

cost to maintain a standard of living

investment paradigm that involves buying securities that appear underpriced by some form of fundamental analysis

numerical expression representing a person's creditworthiness, commonly based on a credit report with information typically sourced from credit bureaus

An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. Examples include an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums. The word derives from the Old French word , m

having stable income or other resources to support a standard of living now and in the foreseeable future

interest rate for a whole year

trend in social behavior

movement whose goal is financial independence and retiring early

type of credit that does not have a fixed number of payments

finance plan that allocates future personal income towards expenses, savings and debt repayment

Refinancing is the replacement of an existing debt obligation with another debt obligation under a different term and interest rate. The terms and conditions of refinancing may vary widely by country, province, or state, based on several economic factors such as inherent risk, projected risk, political stability of a nation, currency stability, banking regulations, borrower's credit worthiness, and credit rating of a nation. In many industrialized nations, common forms of refinancing include primary residence mortgages and car loans.

comprehensive evaluation of someone's current and future financial state

record of a borrower's responsible repayment of debts

financial guarantee from a lender

support group for recovering gamblers

An IOU (abbreviated from the phrase "I owe you") is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment. IOUs usually specify the debtor, the amount owed, and sometimes the creditor. IOUs may be signed or carry distinguishing marks or designs to ensure authenticity. In some cases, IOUs may be redeemable for a specific product or service rather than a quantity of currency, constituting a form of scrip.

financial term used by lenders

person who gives some form of help to benefit a person, group or organization (the beneficiary)

consumer lending approach

type of loan with collateral pledged

is a Japanese saving method. The term translates to "household ledger" and is meant for household financial management. Kakeibo varies in structure, but their principle remain the same. At the beginning of the month, the kakeibo user writes down the income and necessary expenses for the month ahead and decides some kind of savings target. Daily expenses are recorded and totaled at the end of each week and again at the end of the month. At the end of the month, a summary of the month's spending is written in the ledger. In addition to expenses and income, thoughts and observations are written i

class of retail investment account in the United Kingdom

auction which takes place at a public location designated by the court

type of loan

A spendthrift (also profligate or prodigal) is someone who is extravagant and recklessly wasteful with money, often to a point where the spending climbs well beyond their means. Spendthrift derives from an obsolete sense of the word thrift to mean prosperity rather than frugality, so a "spendthrift" is one who has spent their prosperity.

Property ownership for tax and profit

ratio

ongoing cost-of-living crisis in the United Kingdom

professional certification

money disorder

Dissaving is negative saving. If spending is greater than disposable income, dissaving is taking place. This spending is financed by already accumulated savings, such as money in a savings account, or it can be borrowed. Household dissaving therefore corresponds to an absolute decrease in their financial investments.

all the costs consumers pay to own and operate a car, including fixed and variable costs

tray for sharing coins