noun: money or its equivalent (such as a check) paid for goods or services at the time of purchase or delivery adjective: being a method of accounting that includes as income only what has been received and as expenses only those paid
noun: a type of credit score created by the Fair Isaac Corporation. Lenders use borrowers’ FICO scores along with other details on borrowers’ credit reports to assess credit risk and determine whether to extend credit. It is also known as the “I Love Debt” score.
noun: The amount by which assets exceed liabilities. Another way to say this is, it’s the value of everything you own (100% paid for), minus all of your debts (items you owe money on). Total Asset Value – Total Liabilities = Net Worth