Borrowing Money From Family and Friends Advantages Quotes

Borrowing is the transfer of a specified amount of money from a lender to a borrower for a specified length of fourth dimension. Business people borrow coin to brainstorm or expand their busi­ness, and federal, land, and local governments borrow coin to finance their programs and operations. Creditis the pur­chase of goods and services without the actual transfer of money on the promise to pay later. Even wealthy consumers consider the use of credit necessary when purchasing expen­sive items such as houses and automobiles.

Consumers borrow coin and employ credit for 2 main rea­sons. First, buyers can enjoy the use of an detail while paying off the debt. They exercise non have to postpone purchases until. they have enough money to pay for the items in cash. Second, consumers tin can extend payments for expensive items over a period of time. Payments for home mortgagestypically run for 20 to xxx years. Houses are made affordable in this man­ner. Credit paymentsfor televisions, major appliances, and other expensive items ofttimes run from one to five years.

The money borrowed is chosen the chief.The corporeality paid by the borrower for the privilege of using the money iscalled the interest.Both the master and the interest are included in the loan'srepayment. Most loans are secured loans, which require that borrowers put up collateral. Collateralis something of value offered by the borrower as a guarantee that the loan volition exist repaid. If the loan is not repaid co-ordinate to the terms of the loan understanding, the lender may take the borrower'due south collateral. Unsecured loans requiring no collateral are rare and usually involve small amounts of coin and short periods of time.

A common consumer loan is an installment loan.Repayment of the principal and involvement is divided into equal amounts according to the length of the loan menstruum, typically 12,eighteen, 24, or 36 months. The length of repayment of the loan is important in determining the corporeality of the monthly pay­ment. The longer the loan period is, the smaller the monthly corporeality the consumer must pay. Buyers who can afford high­er monthly payments prefer the shorter loan period because it

is less expensive.

The most common use of an installment loan is a home mortgage. A mortgage is an installment debt owed on state buildings, or other real holding. The mortgagee must repa?

the mortgage in installments for fixed number of years, usu­marry between xv and 30 years. The loan is secured by the prop­erty, which is forfeitedif the loan terms are non met.

Buying on Credit

In the employ of credit, no coin changes easily directly. Rather than requiring money for a purchase, businesses allow a customers to charge their purchases and to pay for them over a flow of fourth dimension. Customers who practise non pay their charges in full each calendar month pay interest on the unpaid primary until the full corporeality is repaid. Consumers who desire credit must utilise for it and must have their credit approved earlier the credit can be used. The creditor evaluates data virtually the purchaser and assigns that person a credit rating.A credit rating is an estimation of the probability of repayment.

Creditors are particularly concerned about an applicant'due south four-Cs - character, capacity to pay, upper-case letter,and credit history.An applicant who satisfies the 4-Cs is likely to receive a high credit rating, significant the person is a good credit gamble.An applicant who fails to satisfy the 4-Cs is commonly assigned a depression credit rating.

Words and Expressions

infringe- занимать деньги; заимствовать; брать взаймы; брать в кредит

borrower n - заемщик; берущий взаймы

capacity to pay - платежеспособность

character n - репутация

charge involvement- начислять проценты, взыскивать процен­ты

collateral - имущественный залог; дополнительное обеспе­чение; гарантия, поручительство (финансовое)

college tuition payment - плата за обучение в колледже ,

commercial depository financial institution - коммерческий банк J

credit n - кредит; долг

credit history - кредитная история (записи займов и вы­плат по ним определенного лица)

credit payments - выплаты по кредиту

credit rating - оценка кредитоспособности

credit gamble - кредитный риск

disposable income - доход, остающийся после уплаты нало­гов, чистый доход

down payment - первоначальный взнос, первая выплата,

аванс (напр. при покупке в рассрочку)

forfeit и - лишиться в результате конфискации, потерять право на что-л.

habitation mortgage - ипотека; залог; заклад; закладная

insurance payment - страховой платеж

installment loan - ссуда с оплатой в рассрочку

interest n - проценты (на капитал)

interest rate - процентная ставка

lender northward - заимодавец, кредитор; ростовщик

loan n - заем; ссуда; кредит

loan menses - срок возвращения займа

meet retirement needs - оплачивать пенсионные нужды

money market business relationship - накопительный счет, депозитный счет денежного рынка

mortgage n - заклад; ипотека, закладная

mortgagee n - кредитор по закладной

At present (negotiable order of withdrawal) business relationship - текущий счет с выплатой процентов и списанием по безналич­ным расчетам (типа чеков)

passbook savings - сбережения на банковской сберегатель­ной книжке

passbook account — сберегательный счет с выдачей сберегательной книжки

principal n - основная сумма, капитал (сумма, на который начисляются проценты)

principal and involvement - капитал и проценты

pool of money - общий денежный фонд; объединенный резерв капитала

real property - недвижимое имущество

regular savings business relationship - обычный сберегательный счет

repayment — уплата (процентов), выплата (основной сум­мы)

saving rate - норма сбережений

savings n - сбережения, накопления

savings account - депозит, сберегательный счет

savings bank - сберегательный банк

sayings deposit - сберегательный вклад

Treasury (the) - государственное казначейство, министер­ство финансов

Treasury bills - краткосрочные казначейские векселя

fourth dimension deposit - срочный депозит; вклад на срок

Borrowing is the transfer of a specified amount of coin from a lender to a borrower for a specified length of fourth dimension. Business organisation people borrow coin to brainstorm or expand their busi­ness, and federal, state, and local governments borrow money to finance their programs and operations. Creditis the pur­hunt of goods and services without the actual transfer of money on the promise to pay later. Fifty-fifty wealthy consumers consider the use of credit necessary when purchasing expen­sive items such equally houses and automobiles.

Consumers infringe money and use credit for ii principal rea­sons. Showtime, buyers tin savour the use of an item while paying off the debt. They do not have to postpone purchases until. they have enough money to pay for the items in greenbacks. Second, consumers tin can extend payments for expensive items over a menses of fourth dimension. Payments for domicile mortgagestypically run for twenty to 30 years. Houses are made affordable in this man­ner. Credit paymentsfor televisions, major appliances, and other expensive items oftentimes run from one to five years.

The coin borrowed is called the principal.The amount paid by the borrower for the privilege of using the money iscalled the interest.Both the main and the interest are included in the loan'srepayment. Most loans are secured loans, which require that borrowers put up collateral. Collateralis something of value offered by the borrower every bit a guarantee that the loan will be repaid. If the loan is non repaid according to the terms of the loan understanding, the lender may take the borrower'south collateral. Unsecured loans requiring no collateral are rare and commonly involve small amounts of money and short periods of time.

A common consumer loan is an installment loan.Repayment of the principal and interest is divided into equal amounts according to the length of the loan period, typically 12,xviii, 24, or 36 months. The length of repayment of the loan is important in determining the amount of the monthly pay­ment. The longer the loan period is, the smaller the monthly amount the consumer must pay. Buyers who can afford high­er monthly payments prefer the shorter loan period because it

is less expensive.

The most common apply of an installment loan is a home mortgage. A mortgage is an installment debt owed on state buildings, or other real property. The mortgagee must repa?

the mortgage in installments for fixed number of years, usu­ally between xv and 30 years. The loan is secured by the prop­erty, which is forfeitedif the loan terms are not met.

Buying on Credit

In the use of credit, no money changes hands direct. Rather than requiring money for a purchase, businesses permit a customers to charge their purchases and to pay for them over a menses of time. Customers who practise not pay their charges in full each month pay involvement on the unpaid principal until the full amount is repaid. Consumers who desire credit must apply for it and must have their credit approved before the credit can be used. The creditor evaluates information well-nigh the purchaser and assigns that person a credit rating.A credit rating is an estimation of the probability of repayment.

Creditors are particularly concerned virtually an bidder's 4-Cs - character, capacity to pay, capital letter,and credit history.An applicant who satisfies the iv-Cs is probable to receive a high credit rating, significant the person is a adept credit risk.An applicant who fails to satisfy the four-Cs is ordinarily assigned a low credit rating.

Words and Expressions

borrow- занимать деньги; заимствовать; брать взаймы; брать в кредит

borrower n - заемщик; берущий взаймы

capacity to pay - платежеспособность

character n - репутация

accuse interest- начислять проценты, взыскивать процен­ты

collateral - имущественный залог; дополнительное обеспе­чение; гарантия, поручительство (финансовое)

college tuition payment - плата за обучение в колледже ,

commercial bank - коммерческий банк J

credit n - кредит; долг

credit history - кредитная история (записи займов и вы­плат по ним определенного лица)

credit payments - выплаты по кредиту

credit rating - оценка кредитоспособности

credit gamble - кредитный риск

disposable income - доход, остающийся после уплаты нало­гов, чистый доход

downwards payment - первоначальный взнос, первая выплата,

аванс (напр. при покупке в рассрочку)

forfeit и - лишиться в результате конфискации, потерять право на что-л.

home mortgage - ипотека; залог; заклад; закладная

insurance payment - страховой платеж

installment loan - ссуда с оплатой в рассрочку

interest north - проценты (на капитал)

interest rate - процентная ставка

lender n - заимодавец, кредитор; ростовщик

loan n - заем; ссуда; кредит

loan menstruum - срок возвращения займа

see retirement needs - оплачивать пенсионные нужды

coin market business relationship - накопительный счет, депозитный счет денежного рынка

mortgage n - заклад; ипотека, закладная

mortgagee northward - кредитор по закладной

Now (negotiable order of withdrawal) business relationship - текущий счет с выплатой процентов и списанием по безналич­ным расчетам (типа чеков)

passbook savings - сбережения на банковской сберегатель­ной книжке

passbook account — сберегательный счет с выдачей сберегательной книжки

principal n - основная сумма, капитал (сумма, на который начисляются проценты)

principal and interest - капитал и проценты

pool of money - общий денежный фонд; объединенный резерв капитала

real belongings - недвижимое имущество

regular savings account - обычный сберегательный счет

repayment — уплата (процентов), выплата (основной сум­мы)

saving rate - норма сбережений

savings due north - сбережения, накопления

savings account - депозит, сберегательный счет

savings bank - сберегательный банк

sayings deposit - сберегательный вклад

Treasury (the) - государственное казначейство, министер­ство финансов

Treasury bills - краткосрочные казначейские векселя

time deposit - срочный депозит; вклад на срок

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