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Words and phrases to avoid

Financial terms

Instead of


accrue build up
arrears money owed after it is due
asset property
balance amount
benefit in kind perk
capital amount of money being invested
credit loan
credit limit maximum loan
creditor person or company owed money
debit payment from an account
debt consolidation combining debts
debtor person or company owing money
deeds proof of ownership
default miss a payment
depreciation drop in value
exclusion not covered
exempt free from
expenditure spending
gross total
instalment payment
liabilities debts
lump-sum once-off payment
mature come to an end
means income or property besides a family home
net income income after tax
outgoings expenses, spending
overdue not yet paid
overheads costs
per annum a year
policy plan
policyholder customer
premium contribution, payment
principal loan amount
remittance payment
remuneration pay, earnings
signatory person who signs
surcharge extra charge
transaction payment into or out of an account
variable can change
withdraw take out