Plain-English definitions for the terms you'll encounter on your financial journey.
A situation where the amount of expenses exceeds the amount of income within a set timeframe.
A situation in which the amount of money spent is greater than the amount of money earned over a period.
The total amount of money that a country's government has borrowed from various sources. It represents the accumulation of annual budget deficits over time.
An economic measure of a negative balance of trade in which a country's imports exceed its exports. This means the country is spending more on foreign trade than it is earning.