Definition

Past tense of owing money or obligations—the financial hangover that lingers. When you're stuck with a debt or duty that should have been paid/performed already.

Example Usage

The amount owed on the loan had accumulated significantly after months of missed payments.

Source: Merriam-Webster via Free Dictionary API

Related Terms

Beginner

Compound Interest

Interest earning interest on itself, which Einstein allegedly called the eighth wonder of the world, though he probably never had a credit card balance. It's magical when it works for you and absolutely devastating when it works against you.

💰 Finance / Accounting
Intermediate

beneficiaries

The lucky souls legally designated to receive your money, assets, or insurance payout after you've shuffled off this mortal coil—or sometimes while you're still using it. They're the people you're incentivizing to keep you alive, or in some noir scenarios, quite the opposite. Estate planning's way of playing favorites from beyond the grave, ensuring your ungrateful nephew gets exactly nothing while your cat inherits the vacation home.

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book value

An asset's value on the balance sheet after accounting for depreciation and amortization—basically what the accountants say it's worth, which often bears no resemblance to what someone would actually pay for it.

💰 Finance / Accounting
Advanced

Off-Balance-Sheet Financing

Using clever accounting structures to fund operations while keeping the debt off the balance sheet. It's how companies hide how leveraged they actually are until the structure inevitably collapses.

💰 Finance / Accounting
Beginner

cost of goods sold

The direct costs of producing goods or services that were actually sold, abbreviated as COGS. It includes materials and labor but not the CEO's golf club membership, no matter how insistently he argues it's 'client development.'

💰 Finance / Accounting
Beginner

solid dollar

An actual paper dollar bill as opposed to its coin-form equivalent (quarters, dimes, etc.)—useful when someone specifically needs the whole unit and not loose change.

💰 Finance / Accounting

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Intermediate

godisnowhere

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