Unit 3 - Sustainability of an Individuals Finances Flashcards. 0.0 / 5 ? BusinessFinanceA2/A-levelOther Created by: Ky_DCreated on: 24-11-15 10:27 Bank Rate Interest that the BoE charges other banks when they lend money. 1 of 7 Credit Card Card where money is taken from the holders account, transactions paid by provider. Must make repayments with interest. 2 of 7 Fixed Interest Paying same amount of interest until the end term of savings, investment or loan. 3 of 7 Insolvency When an individual cannot pay the debt they owe and the debt is far greater than the assets they own. 4 of 7 Non-Financial Investements ANY investment other than a financial product. 5 of 7 Repossession LEGAL process whereby a financial lender takes ownership of an asset (maybe house) because repayments have not been met. LAST RESORT. 6 of 7 Sustainable Personal Finance Achieving and maintaining a balance between personal income & expenditure to satisfy N,W and A within a budget. 7 of 7
Comments
No comments have yet been made