MoneyU Glossary of Terms

MoneyU Glossary of Terms

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Automatic Clearing House

The automated clearing house is how electronic transactions are processed when a person selects an electronic debit or credit of funds. These are most common with payroll direct deposit and automatic bill payments.

Available Credit

The unused portion of credit that falls within the consumer's applicable credit limit, if any.


To exchange goods or services in return for other goods or services; i.e., without an exchange of money.

Bottom Line

The bottom line is your monthly income less expenses.


The financial record you use to keep track of the money you earn, how much you spend and what you spend it on. Your budget also includes savings and how much you pay to your creditors.

Cash Advance

A cash loan taken out on a credit card. Interest for cash advances is usually higher than it is for purchases, a transaction fee may apply, and the grace period may be waived.


Written order directing a bank or credit union to pay a person or business a specific sum of money.

Comparison Shopping

Comparing the price of an item at various places, allowing you to get the item for the least amount of money. Comparison shopping is especially easy to do online, using the Internet.

Credit Limit/Credit Line

Your credit limit is the maximum amount you may charge on a credit card or you can carry on an account. Some card issuers set a separate limit for purchases and cash advances. Many banks allow you to spend more than your credit limit, but charge you a fee for doing so. It is up to you to keep track of your credit limit and how much available credit you have left.


A liability or obligation in the form of bonds, loan notes, or mortgages, owed to another person or persons and required to be paid by a specific date.

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