Being solvent refers to being able to pay your day-to-day outgoings.

Changing interest rates Inflation Government action e.g. Brexit Taxation

he FOS is an organisation appointed by the government to represent the interests of customers in disputes with financial institutions.

Authorisation, Supervision, Enforcement

Credit Cards

This can range from paying fines, having property seized by bailiffs and serving a prison sentence.

nflation is the average price rises across all industries within a country. This means that money does not lose its value but your spending power falls

Individual Savings Account

Bankers’ Automated Clearing Service

Interest rates dictate how much money you pay back on products such as loans and how much money you are paid for saving money within a bank/building society.

Your credit rating gives you a score based on your past financial decisions. This score indicates how much of a risk you are to financial institutions such as b

Maintaining a healthy economy as a whole. Issuing legal tender, setting interest rates and controlling the national debt.

An overdraft is an agreed amount that an individual/business can be overdrawn without facing penalty charges