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borrowing and saving

TermDefinition
hire perches you pay for an item over but get it on the initial perches
term loan a loan is a certain amount of money the bank pays you but you have to pay it back with interest
mortgage mortgage is a payment on a house you pay to live in it but you can pay of your mortgage
credit card you insert your card and pin for smaller purchases you can also tap your card at a terminal contactless payment
store card it like a credit card but only for certain stores or retailers
money Leander a moneylender is someone other than a finical intuition who gives a loan to anther person
renting you pay to use the item but you don't own it because it belongs to the person your renting it from
short term borrowing short term has to be paid before a year
long term borrowing long term loans are pained over 5 years plus
medium term borrowing medium loans are paid between one year and five years
overdraft when the bank gives you permission to overdraft your accent take out more money the you have
Created by: rhys gohery
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