Financial Term Index: B

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Budget

Budget is a plan, usually limited by time period, that uses estimates of likely revenue and expenditure to allocate funds.

Borrowing power

Borrowing power is the amount an individual or organisation can borrow, usually calculated using income/revenue, expenses and other debt obligations.

Borrower

Borrower refers to the person taking out a loan from a bank, financial institution or moneylender. If you take out a personal loan, you are

Bankruptcy

Bankruptcy is when someone’s debt problems get so serious that they are unable to pay their existing debts and bills. When this happens, it’s possible

Balance Transfer

A balance transfer loan allows you to transfer all your outstanding debt from credit cards and other personal loans into one account. It usually charges

Balance sheet

A statement of assets, liabilities and equity that shows the financial position of the individual or organisation.

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