The Moneywise Financial Glossary
Issued by a bank as part of a current account and, in a nutshell, serves as electronic cash. Unlike a credit or charge card, where you get...
Not to be confused with a consolidation loan or bankruptcy, a DMP is a service offered by a specialist debt management company that will...
Often referred to as a “final salary” pension, benefits paid in retirement are known in advance and are “defined” when the employee joins...
Often referred to as a “money purchase” scheme, although offered by employers (who may pay a contribution) these pensions are more likely...
This is the opposite of inflation and refers to a decrease in the price of goods, services and raw materials. Economically, deflation is...
A financial instrument where the price is “derived” from a security (share or bond), currency, commodity or index. The price of the...
This is a mortgage where a discount is applied to the lender’s standard variable rate (SVR) for a set period; usually two years but also...
If you own shares in a company, you’re entitled to a slice of the profits and these are paid as dividends on top of any capital growth in...
