This document provides definitions and explanations of common financial terminology to help people have a great financial life. It discusses revenues and expenses, saving money, banking terms like checks and bank statements, ways of making more money through investments, different types of plastic like debit and credit cards and credit ratings, taxes, and encourages the reader to go have a great financial life.

1. Financial Terminology
What you need to know to have a great financial life

2. Money
Revenues: places you get money from and how
much money you get from there; for example from
your work or job
Expenses: what you are buying with your
revenues, how much you are spending each week,
month, year; for example rent, mortgage, food,
etc.

3. Saving Money
putting away money for future use

4. Banking
cheque: a payment that allows you to write
out how much you would like to pay to a
specified individual or company, also
prevents over spending because it draws
money from your bank account
transaction register: a way to keep track of
all of your spending; a piece of paper that
you fill out with all of your expenses
bank statement: a paper that the bank sends
out every month to let you know of how much
you spent that month and on what

5. Making More Money
investment: putting your money into a property, company, shares,
financial schemes, etc. and expecting a profit or item in return

6. Plastic
debit card: a card issued by a bank allowing the holder to transfer money
electronically to another bank account when making a purchase
credit card: a small plastic card issued by a bank, business, etc. allowing
the holder to purchase goods or services on credit
credit rating: an estimate of the ability of a person or organization to
fulfill their financial commitments, based on previous dealings.
Definitions from google definitions

7. Taxes
taxes: a mandatory fee you must
pay for buying and selling items;
this money goes towards the
country you live in

8. Go have a great financial
life!