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The Core Principals Of Personal Finance
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A loan is a sum of money that is borrowed by an individual or a group of individuals referred to as the “borrower” from a bank, credit union, or online lending platform referred to as the “Lender”. It is a financial arrangement between the borrower and the lender.
A credit card is a type of credit facility, provided by banks that allow customers to borrow funds within a pre-approved credit limit. It enables customers to make purchase transactions on goods and services.It is a thin rectangular piece of plastic or metal issued by a bank.
Insurance is a contract or a legal agreement between an Insurance company (Provider) and an insured (Policy Holder). This contract provides individuals, businesses, and organizations with protection against potential financial losses or risks.