Glossary
Money words, in plain language
The terms that come up most in our articles.
Interest
The price of borrowing money, or the reward for lending it. On a loan you pay it; on savings you earn it.
Compound interest
Interest earned on interest. Over many years it is why small, regular savings grow faster than you expect.
Emergency fund
Money set aside only for surprises: a broken geyser, a lost job, a hospital visit. Not for holidays.
Credit score
A number credit bureaus work out from your borrowing history. Lenders use it to decide whether to lend to you and at what rate.
Tax-free savings account
A savings or investment account where growth is not taxed, up to yearly and lifetime limits set by SARS.
