Glossary
Safety Net
A means of financial protection that helps an individual, family, or business cope with unexpected expenses, loss of income, or financial difficulties, thereby avoiding a crisis.
Salary - glossary for children
Money that workers and employees receive every month for the work they do.
Sanction
A legal consequence imposed for violation of legally established rules or obligations. It may be financial, administrative, or criminal and serves to protect public order, legality, and discipline by creating a negative incentive (punishment) for non-compliance with the norms.
Saving
Postponing present consumption for the future to ensure financial security, accumulate funds for upcoming expenses or investments, and manage risk. Saving is a key tool for budget planning and maintaining financially responsible behavior at an individual or household level.
Saving - glossary for children
Setting aside part of the income to use later for buying something bigger and more valuable or to have money for unexpected expenses.
Savings
Money accumulated through the process of saving, intended to be used in the future for unforeseen expenses, important goals, investments, or to improve financial security.
Savings Account
A product that essentially represents a non-term (demand) deposit and is not intended for making payments. The bank accrues and pays interest on the deposited funds.
Savings Account - glossary for children
A bank account for keeping money for a longer time, because it grows thanks to the interest the bank pays.
Scholarship
Financial support regularly awarded to a student, doctoral candidate, or other learner to help cover education-related expenses (tuition, textbooks, transport, accommodation, etc.). It may be granted based on academic achievement, social criteria, combined factors, or through a competitive process. Types include state, university, foreign (e.g., via Erasmus+), corporate/private, or research/doctoral scholarships.
Scholarship - glossary for children
Money given to students, usually for achievements or when they need financial help.
Partners
