THE MONEY WELL
Money & Personal Finance
THE MONEY WELL
Copyright @
Moneywell.co.uk 2006-2007
Money &
Debt Reduction
Moneywell.co.uk 2006-2007
Money &
Debt Reduction
Glossary of Terms Used on this Site
TOTAL MONTHLY INCOME:
This is the sum of ALL the money you have coming in each month.
ESSENTIALS:
This is the money you must spend each month on food, clothing and supplies like electricity, fuel etc.
AVAILABLE AMOUNT:
This is what is left from TOTAL MONTHLY INCOME after you have allowed for ESSENTIALS
MINIMUM MONTHLY PAYMENTS:
Every debt has a minimum amount you are required to pay each month. This amount MUST be paid each month before the deadline or you will probably be charged a large fee for late payment.
DEBTCRUSHER:
This is the money you have available to pay down your debts once you have allowed for the ESSENTIALS & TOTAL MINIMUM MONTHLY PAYMENT.
TOTAL MONTHLY INCOME:
This is the sum of ALL the money you have coming in each month.
ESSENTIALS:
This is the money you must spend each month on food, clothing and supplies like electricity, fuel etc.
AVAILABLE AMOUNT:
This is what is left from TOTAL MONTHLY INCOME after you have allowed for ESSENTIALS
MINIMUM MONTHLY PAYMENTS:
Every debt has a minimum amount you are required to pay each month. This amount MUST be paid each month before the deadline or you will probably be charged a large fee for late payment.
DEBTCRUSHER:
This is the money you have available to pay down your debts once you have allowed for the ESSENTIALS & TOTAL MINIMUM MONTHLY PAYMENT.
Debt, n. An ingenious substitute for the chain and whip of the slavedriver. ~Ambrose Bierce, The Devil's Dictionary, 1911