MoneyU Glossary of Terms

MoneyU Glossary of Terms

Browse the glossary using this index

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Statement about what a person wants to be, do, or have, accomplished by taking certain steps; provides direction to a plan of action.

Grace Period

The period of time, generally 20 to 25 days, from the billing date of your last credit card bill to the due date of your current bill, when you can pay in full without being charged interest. Some cards do not offer a grace period. Others only have a grace period if there was no outstanding balance on the account at the start of the billing cycle. Generally, there is no grace period for cash advances.


The person who establishes a trust and transfers property to the trust.

Gross Pay

Your gross pay is the amount of money you are paid before any of it is taken from your paycheck for taxes and deductions.