Money words in plain English, one word at a time.
Every one of these words is an ordinary idea in expensive clothing. Some of them are two ideas sharing a word. A few of them mean something different depending on which document they turn up in, and nobody mentions that either.
You did not miss the lesson where these were explained. There was no lesson.
Look up the word that stopped you, then get back to whatever you were reading.
Alphabetical. Each word has its own page, so you can send someone a link to the one word rather than to a list of forty.
- Asset An asset is something you own that has value.
- Equity Equity is the share of something you own outright.
- Fiat currency Fiat currency is money that is worth something because a government declares it so.
- Liability A liability is money you owe.
- Medium of exchange A medium of exchange is anything people agree to accept as payment.
- Net worth Your net worth is everything you own minus everything you owe.
- Store of value A store of value is something that keeps its worth while you are not using it.
- Unit of account A unit of account is the measuring stick prices are quoted in.
More are added each week, ranked by where the word first turns up in the course rather than by the alphabet, because a word in the first lesson stops more people than a word in the thirtieth.
If the word you came for is not here yet, it is on the list.