government grants
Government grants are grants of money given by a governmental organization to qualifying persons or organizations. Grants are given for specific purposes, such as starting a small business or funding an education. A government grant does not normally need to be repaid if all of the conditions and stipulations of the grant are followed.
credit card
A credit card allows you to charge purchases to a credit account at a financial institution. People use credit cards for various purposes, but mostly they’re a convenient way to purchase goods and services without having to pay cash or write checks — most of them work the same way, but be sure not to confuse credit cards with charge cards. Unlike charge cards, credit cards let you carry unpaid balances forward, though of course you’ll be charged interest on that balance. When choosing a credit card it’s important to understand the annual percentage rate (APR) because it greatly affects how much you’ll pay.
home equity
Home equity refers to the part of a home’s value that belongs to the owner of the house. Normally home equity is the difference between the market value of a house and the amount still owing on any mortgages. It’s quite possible to have negative home equity if the housing market has declined and the house is now worth less than the outstanding mortgage principal. That’s a tough situation to be in!
ferry
A ferry is a boat used to transport groups of people (and often their cars) across a waterway, usually as a regular or scheduled service. Certain areas of the world depend heavily on ferries for basic transportation — see ferry travel in Alaska, British Columbia and Washington for an example.