Teachers and parrents
account number a special number that has each account unique, thanks to which a specific client is associated with the account
activation of the payment card takes place by inserting the card into the ATM and entering the correct PIN code, since then the card is active and it is possible to pay with it conveniently or withdraw money at ATMs
annual inflation rate comparing prices in the consumer basket and determining its rise or fall in price compared to the previous year
ATM a device designed primarily for withdrawing banknotes; its other functions include, for example, finding out the balance on an account or recharging a mobile phone credit
balance sheet a document in which there is a complete statement of assets at a particular date
bank an institution that provides financial services, is mainly engaged in lending and depositing money
bank account bank service that allows us to deposit money
bank transfer the most convenient and fastest way to transfer money from one bank account to another. Today, it is usually only by overwriting amounts on computers, it can take place within one bank and between different banks
banknotes paper money of a certain value
budget recording of income and expenditure for a specific period of time
businessman person selling something
cash coins and banknotes
cashless money money deposited in a bank account
cashless payment we pay expenses without cash, such as payment by card or bank transfer
claim the right to require the debtor to pay a debt or fulfill a promise or obligation
coins metal money
compulsory liability compulsory motor insurance by law (without compulsory liability, the car may not come out, checked by the police), it is paid for damage caused by the driver of the vehicle
consolidation of loans merging of several loans (it is possible to have loans from several institutions) into one loan
consumer basket the purchase of specified goods in a given period and their comparison with the previous period, most often in a calendar year
consumer credit credit for the purchase of goods, usually has a high interest rate
contactless payment card payment, where we just attach the card to the payment terminal and pay
contract bilateral agreement, may be in writing or orally
court payment order court decision ordering to pay a loan, to repay claims against a creditor
credit other name for the loan
credit payment card a card that allows us to pay with money that we do not have in our account, we borrow from a bank
creditors those who lent us (bank, non-banking institutions, physical persons)
currency money used in a country
current account basic type of bank account intended for everyday use
customer person who purchases goods or services
demand the amount of goods we are willing to buy at a certain price
debit payment card card that we only pay with the money we have in our account
debt money we borrow, for example from a bank, then we owe
debt trap a situation in which a person is unable to repay the money he has borrowed. To repay one loan, he must take another loan.
deflation fall in market prices, for the same amount of money we buy more goods
disability loss of ability to work, occurs after a serious illness or injury
equilibrium price fixed price at equalization of supply and demand
Euro currency of the European Union, abbreviation EUR
exchange rate amount, for how much of one currency it is possible to exchange a unit of another currency
exchange rate list document with current foreign exchange rate
execution official decision to seize things in value of an outstanding debt
executor person in charge of confiscating property
expenses everything we pay
fees money we pay to the bank for the services it provides us
financial advisor a person who has an overview of financial products on the market, provides advice and mediates contracts with financial institutions
financial reserve the amount of money that can be drawn when needed
financial service intermediaries persons who sell an already established financial product to customers
foreign exchange foreign currency in non-cash form (for example transfers from account to account in foreign currency)
goods products or services intended for exchange on the market
gross salary income before tax and payment of compulsory insurance, we do not receive gross income, its amount can be traced on the payslip, where all components of wages are listed
income money we earn, for example by paycheck
indemnity a lump sum that is paid by an insurance company, for example after an accident
inflation a situation where prices rise and the value of money decreases
installment the amount we regularly pay an institution when it lends us money
installment calendar a special calendar where it is determined how much and when the debtor will repay until he pays the entire debt
installment sale sale where, when buying goods, we pay only a small part of the price and gradually repay the goods
insurance an insurance service that protects persons and property
insurance company company with which we can take out insurance
insurance contract an agreement concluded with an insurance undertaking, stipulates the terms of insurance
insurance event damage or event that has occurred and is covered by insurance, for example accidental fracture
insuree the client of insurance company who is insured and has a contract with company
insurer the organization that insures you
interest the amount that the bank adds to the client to the amount for depositing money
interest rate by how much the amount borrowed or deposited for the specified period will be increased as a percentage
internet banking we don't have to go to the bank and everything can be arranged using the internet: money transfers, payments, checking the movement of money in the account, etc.
investment a type of saving, investing in any property, such as buying a property
leasing a type of loan in which we simply borrow the item from the company and return it or repay it at the residual value after the lease has been repaid
legal person an organization, most often a company, firm or association operating in the market. It may enter into contracts, apply for loans.
lien arises on a mortgage loan where our property is forfeited in the event of inability to pay
life insurance insurance for various life situations - reinsurance of old age or family in the event of the death of a breadwinner
loan finance provided for a transitional period, the bank charges interest for the loan
market the place where goods are exchanged for money
market price the amount at which goods and services are sold on the market
microtext eye-invisible text which is a security feature on banknotes
mortgage / mortgage loan money lent by a bank to buy a house or flat
non-banking institutions financial institutions which provide loans and borrowings, not banks
payment card plastic card with magnetic stripe and chip, allows cashless payments in shops or withdrawals from ATMs
payment order an instruction we give a bank to send money from one account to another
payment terminal a device that allows us to make cashless purchases in a store using a payment card
penalty penalty for not paying something on time, for example loan repayment
physical person any person who has his rights and obligations, a physical person becomes legally competent on reaching the age of 18, then can enter into contracts, borrow money from a bank, etc.
PIN numeric code for the payment card, password known only to the cardholder (personal identification number)
premiums the amount that the insuree regularly pays to the insurance company
price value at which we buy goods and services
proof of payment receipt or invoice issued for the product purchased
purchase contract an agreement which obliges the buyer to pay for the goods and to supply the seller with quality goods at a known price
rent money we pay for using flat, apartment or house, we do not own
savings account a type of bank account that is not intended for everyday transactions, has a higher interest rate, we can save money on it
securities various types of investment, divided into equity, where we buy directly a small stake in the company (shares), or debt, which are actually in the form of a loan
social insurance compulsory insurance from which the state pays social benefits and pensions
standing order an order to a bank to regularly (usually once a month) transfer a specified amount to another account (such as a rent)
state aid the state regularly adds a pre-determined amount to the specific types of savings
statement of account regular overview of operations performed on our account, we usually receive it once a month
supplementary pension insurance a type of savings where we regularly deposit a set amount each month. The deposit period is usually set for the period for which the client works.
supply goods and services offered on the market at a certain price, their types and quantities are determined by the customer's choice - demand
tax the amount that is compulsorily paid to the state, its amount is usually set as a percentage, almost everything is taxed: income, purchases, goods
term deposit a type of savings, for which there is a minimum period during which we cannot withdraw money
wage money we receive as remuneration for work done for the employer
warranty the seller guarantees the quality and functionality of the purchased product
warranty period the period for which the seller guarantees the functionality of the product, usually 2 years
watermark special security feature on banknotes