Glossary Terms Starting with B

Balance Transfer: This is the process of taking the outstanding of one credit card and transferring it to another.

Balance Transfer Fee: This is the fee for a balance transfer

Balloon Payment: This is a loan with a condition of repayment of a lump sum amount at the end of the term.

Bankruptcy: This is a law levied by the US government to discharge a debtor of almost all his debts when he is unable to pay his creditors.

Budget: This is a financial preparation for managing money.