Glossary
Roadside Assistance
Insurance that covers emergency roadside assistance while travelling by car. It is often offered as an add-on to comprehensive insurance or as a standalone product. The purpose is to provide technical help in case of a breakdown or accident on the road.
Robo-Advisors
Automated online platforms that provide financial advice or manage investments using algorithms and artificial intelligence, without direct human consultant involvement.
Royalties and Licensing Fees
Payments received for the right to use intellectual property. Copyright royalties are paid to the author of a work (for example, literary, musical, artistic, software, etc.) for the use of their creative work. The remuneration is in exchange for the transfer or granting of rights over the work, for example, for publishing, performance, reproduction, and distribution. Copyright royalties can be either one-off or periodic. Licence fees are paid for the right to use someone else's intellectual property, granted through a licence, which is a contractual permission from the rights holder (author or copyright owner) to a third party to use the work under certain conditions. Licence fees can be fixed or based on a percentage of the profit.
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.
Partners
