Across
- 1. institutions A business that handles money for people. It could hold money in a savings account or it may lend money out for a range of purposes. Types may include: banks, credit unions, finance companies, friendly societies.
- 3. The level of uncertainty of a particular investment. Often, the higher the risk, the higher the return.
- 4. variable interest When a financial institution changes the interest rate it charges (or pays) its customers, in response to a change in economic conditions.
- 5. deposit Financial institutions offer the customers the opportunity to “lock their money away” in a term deposit. This means that you can’t get it back for a certain period without losing some or all the interest, but you will receive an agreed amount of interest if it remains in deposit for the agreed period.
- 6. chip shares Shares in reliable and well-established companies. They are considered a safe investment.
- 8. If you own shares, the business may pay some of its profits to you as a percentage of the originally issued value of the share.
- 11. This can mean two things. When you receive interest it is a type of income – such as the “interest” that the bank will give you when you let them hold onto your money. However, when you pay interest, it is the cost of borrowing – the extra amount you must pay back when you take out a loan.
- 12. Payment made for the use of property.
- 15. When the work of an individual or group (e.g. musician, novelist, scientist) is used by others, the creator of the work or owner of the royalties should receive a payment. For example, when someone writes a book, they can negotiate to receive a royalty for each copy that is sold. A musician or band gets money each time a radio station plays their music. Royalties are not necessarily owned by the creator of the work in question. For example, the royalties for a scientist’s work are often owned by the organisation he or she works for, or royalties may be bought by someone else.
- 18. The amount of money you are paid on an hourly rate. It is usually paid as a weekly or fortnightly amount for working. It can also include amounts for overtime, penalty rates and shift allowances.
- 19. Money received during a certain period; mainly as wages or salary, interest, rent, dividends, social security.
Down
- 2. An asset acquired for the purpose of producing or generating an income.
- 3. The amount of money received from savings or an investment. It is usually expressed as a percentage.
- 7. The original amount that is borrowed or invested
- 9. scheme A scheme attached to some credit cards where rewards are offered for spending money using the card. This may take the form of points redeemable for goods and services. Examples include Fly Buys or frequent flyer schemes.
- 10. An amount of money that is owed.
- 13. interest When you receive (or pay) interest on both the principal and any existing accumulated interest.
- 14. Money paid to governments used to provide mainly services, such as defence, schools, roads and hospitals.
- 16. sacrifice This is paying for some things before income tax is deducted from wages or salary.
- 17. interest The interest rate is unchanged for the period agreed.