Browsing Debt Glossary by O

"O" arranged descriptions of memorable terms in finance that you may or may not have seen in family finances or while reading articles in this directory, with further details available via a term or phrase link click.

  • Offline Debit Card (i.e. Check Card) – An offline debit card is a debit card that is utilized like a credit card-that is, no…
  • Open-end Credit (i.e. Line of Credit or Revolving Line of Credit) – An open-end credit is a preapproved or established…
  • Open-end Lease (i.e. Finance Lease) – A lease that requires the lessee to purchase the leased asset at the…
  • Option – An option is a financial derivative representing a contractual obligation between the option writer and the…
  • Option Adjustable-Rate Mortgage (i.e. Option ARM, Payment Option Adjustable-rate Mortgage) – An option ARM is a…
  • Ordinary and Necessary Expenses (O&NE) – Ordinary and necessary expenses are those expenses incurred…
  • Ordinary Annuity – An ordinary annuity is simply a series of equal payments made on a specified and regular…
  • Ordinary Income – Any income that is taxed at the individual’s highest tax rate is considered to be ordinary income…
  • Out-of-pocket Expenses – The phrase "out-of-pocket expenses" refers to a cost paid by an individual by, more or…
  • Over Credit Limit – Nearly every loan will have a fixed credit limit, which represents the maximum amount that a…
  • Overdraft – When a person writes a check drawing more funds than are available in the checking account there can…
  • Overdraft Fees – Many financial institutions charge special fees on overdrafts. For example, if your checking account…
  • Owner Financing (i.e. Seller Financing) – Owner financing describes the situation where a buyer finances a…