Dictionary 2017-01-23T08:54:45+00:00

Dictionary

I wanted to (finally) give you a money dictionary that doesn’t require a dictionary to understand the word’s definition. That doesn’t exist . . . so I made my own. You know how you explain a term to a friend who doesn’t “get” it? That’s the way it’s written here. Let this glossary be your go-to guide for definitions with a practical perspective whenever you need a little cheat-sheet. Some stuff changes over the years, but these basics never go out of style.

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Underwater -  This is what happens when the amount of an outstanding loan is more than the thing you borrowed it for, is worth. For instance, if you take out a $300,000 loan to start up your business, but your idea flops and the value of your assets (including office space, equipment, and software) now has a market value of only $250,000, your company is considered underwater (by $50,000— eek).
Unicorn -  A start- up with no track record that is valued at more than a billion bucks. Think Facebook, before it went public.
Unsecured Debt -  Unsecured Debt: This is the kind of debt that isn’t secured by any goods that can be repossessed if you fail to pay, like a car. Student loans and credit cards are examples of unsecured debt. (See also: Secured Debt)