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

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

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

Making informed decisions Living within your financial means Ensuring that your income covers your outgoings

Childhood - limited. Adolescence - indepdendence. Younf adult - house, car, career. Middle age - family support, saving for children, lifestyle. Old age - downs

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

Bankers’ Automated Clearing Service

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

Payday loans are small, high interest loans that are taken out normally for emergency expenses such as repairs or unexpected bills.

Credit Cards

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

Debit Cards