A mortgage is a special type of loan. A mortgage is where a lender agrees to lend you the money to buy a house on the basis that if you fail to keep up with repayments to the loan, the house will be repossessed and sold and the money will go to the lender.

Mortgages have interest applied to them. Mortgage interest is a charge which is levied onto the money you owe and is calculated on a regular basis. This is the way the lenders make money on your loan.

A mortgage calculator is a calculator which asks you questions such as your income and mortgage amount, and outputs how much lenders may be able to lend you and how much the repayments of the mortgage will be each month. Obviously, if you have a tracker mortgage, the payments will vary each month so most mortgage calculators will also have a box for interest rate so that you can try varying interest rates to see what would happen to your mortgage repayments.

A personal loan is when you are lent money from a lender, normally a bank or building society. There are two typres of personal loan - a secured personal loan and an unsecured personal loan.

A secured personal loan is one where the money is secured against an asset, usually property. This means that if you default on the loan (ie you do not keep up with the loan payments), the property can be repossessed and sold to recoup the lenders costs.

Money management is about handling and dealing with money. Sometimes, money management car refer to investment management where it deals with how much risk the owner of the money wants to take with the money. It determines how much of their investments should be put into high risk funds, how much should be put into medium risk funds and how much should be put into low risk funds.

Money management can also be applied to every day life and refers to budgeting your money and managing it effectively. Often, people will have some sort of spreadsheet to show all incomings and outgoings so that they know where all their money is and they can manage it better.

A boat loan is a type of debt where the lender lends money to a customer to buy a boat. The loan must be paid back over a specified period of time, and the lender will add specific amounts of interest to the boat loan. The interest is normally calculated at given time periods.

If the loan is not paid back in a timely fashion, the lender may repossess the boat and sell it in order to recoup their money from the boat loan so it is important to keep up the repayments on your boat loan.

Life insurance is sometimes also known as life assurance. When you take out a life insurance policy, you agree to pay a small fee to the insurer each month - often the fee will depend on factors such as:
- your age
- pre-existing medical conditons
- family medical history
- general health
- whether you are a smoker
- how much alcohol you drink
- whether you take regular exercise or not
- the type of job you do

If anything untoward should happen to you and you die, your named beneficiary will receive a pre-agreed sum of money. The payment is meant to protect loved ones against economic loss should the insured die.

Health insurance has recently become a generic term that is synonymous with the terms accident insurance, sickness insurance and health insurance. Loosely put, it is insurance to cover healthcare costs.

In some countries, healthcare is provided free of charge; in others, no healthcare is provided. In both cases, some individuals may want to take out private health insurance. This involves filling in several forms and declarations, and then paying a premium each month to the health company. In the case of accident and sickness, subject to the terms and conditions laid down by the insurance company, they will pay for any medical treatment corresponding to the accident or illness.