Financial Terms and Concepts

Front

A situation where the value of a country's currency significantly decreases.

Back

the currency collapsed

Front

An amount of money that is required to be paid as a fee.

Back

pay 10 $ in charges

Front

A rapid increase in the general price level of goods and services.

Back

inflation rocketed

Front

To allow someone to borrow money or receive goods with the promise of future payment.

Back

extend them credit

Front

To completely deplete one's savings.

Back

wipe out their savings

Front

To rely on government-provided retirement funds for living expenses.

Back

live on the state pension

Front

To plan and control financial resources.

Back

manage a budget

Front

To borrow money that one is unable to repay.

Back

get into debt

Front

To cancel a debt or an asset that is no longer considered recoverable.

Back

write off billions

Front

To accumulate a large amount of debt.

Back

run up huge debts