Money Terms in Plain English.
Terms marked UK are specific to the UK. A nation's name, like Scotland, means the rule only applies there.
Z
- Zero-based budgeting
- Giving every pound of your income a job, so nothing is left unplanned.
- In plain English:Every pound you earn is given a job, like bills, saving or fun, until there's nothing left without a plan.
MoreLess about Zero-based budgeting
It takes time each month but gives control. Apps can help.
For example: Someone earning £2,000 a month plans exactly where every pound goes, including £300 to savings.
- See also: Budget
- Zero-coupon bond
- A bond that pays no interest but is bought for less than it repays.
- In plain English:A bond that pays no interest. You buy it for less than it's worth and get the full amount back at the end.
MoreLess about Zero-coupon bond
Its price moves a lot with interest rates. Like any bond, the borrower could fail to repay.
For example: A zero coupon bond costs £90 and repays £100 in three years, with no interest paid in between.
- Article inside Foliopeak: Bonds
- Zero-hours contract
- A job with no guaranteed hours.
- In plain English:A job where your employer doesn't promise you any set hours, and you don't have to take the hours offered.
MoreLess about Zero-hours contract
You have the right to turn down work. You're still entitled to holiday pay and the minimum wage.
For example: Someone on a zero-hours contract works 30 hours one month and 10 the next, and their Universal Credit changes to match.
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