Gnomenclature
Learn the language of finance.
In many ways, success depends on clarity. The Frugal Gnome glossary gives definitions of specialized financial terms to help bring clarity to the language of finance.
| Term | Definition |
|---|---|
| Overdraft | Overdraft is when you take out or spend more money than you had in a bank account. An overdraft is a negative balance, and it is as if you’ve borrowed money from the bank without permission. An overdraft may incur fees and/or the forced closure of your account. |
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