Legal glossary category
Financial/Legal Terminology
Browse 4 glossary entries in the Financial/Legal Terminology category, with short plain-English descriptions and direct links to the full term pages.
principal balance
Imagine you have a big bill or a large amount of money owed; the principal balance is the main starting number—the original amount before any chang...
Open term →reconciliation
Imagine you have two lists of numbers; reconciliation is checking to see if those lists match up perfectly.
Open term →savings
Imagine 'savings' as money that you put aside because you want to make sure you have enough money later for something important, like paying bills...
Open term →total assets
Imagine 'total assets' is like adding up every single thing that someone owns—like money, property, or valuable things—to see how much wealth they...
Open term →