burden
culeys
something difficult that you have to deal with or worry about
EXAMPLE: Owning a home can be a burden: You have a monthly mortgage payment, and what's more, you are responsible for all of the repairs!
financial status
heerka dhaqaale
your position as it relates to money
EXAMPLE: If you want to take out a loan, the banker will take a look at your financial status. She wants to make sure you will be able to pay the money back.
fall behind on
gadaal u dhacaan
to not pay your debts on time
EXAMPLE: When she lost her job, she started to fall behind on her mortgage.
adjective: financially stable
(noun: financial stability)
dhaqaale ahaan xasilloon
to have enough money to live on
EXAMPLE: Now that he has a good job and little debt, Luis is financially stable. He doesn't have to worry anymore.
terms and conditions
xeerarka iyo shuruudaha
the rules
EXAMPLE: Before you agree to a loan, read the terms and conditions carefully. Make sure you understand your responsibilities.
budget
miisaaniyad
a plan that shows how much money you have and how you will spend and save it
EXAMPLE: We are tired of running out of money before the end of the month. My husband and I studied our finances and created a budget. We are careful to follow our new savings and spending plan.
calculate
xisaabiso
to discover an amount or number using math
EXAMPLE: Let's look at our budget and calculate how much money we can afford to pay each month for a mortgage.
credit report
warbixinta amaahda
a record of your debt and payments of debt over a period of time
EXAMPLE: I applied for a credit card. The bank said they would run my credit report and let me know if I qualified.
foreclose on
saadaalin
to take back property (house / land) that was bought with borrowed money because the money was not being paid back on time
EXAMPLE: After the man lost his job, he stopped paying his mortgage. The bank foreclosed on him.
gather
ururin
to collect things together
EXAMPLE: I want to apply for a mortgage. I need to gather my pay stubs, social security card, and other important documents so I can show them to the banker.
lender
deyn bixiye
a company that lends money
EXAMPLE: If you want to take out a mortgage, apply with local banks, national banks, and online lenders.
mortgage broker
dillaaliinta guryaha
a person who helps a borrower find the best mortgage
EXAMPLE: Some people use the services of a mortgage broker when they want to find the best mortgage that will meet their needs.
pay stub
Lacag bixin
the record of how much you earned in a pay period and how much was withheld
EXAMPLE: My pay stub shows my gross pay and my net pay. I can study it to find out about my withholdings.
process
hab loo qabto
the steps you need to take to complete a task
EXAMPLE: If you want a mortgage, you will find that the application process is long and sometimes confusing. Be sure to ask for help.
take on
waxqabasho
to accept responsibility for something
EXAMPLE: Are you sure you make enough money to take on a car loan? Maybe you should wait until next year to buy a new car.
the time is right
waqtiga waa sax
now is a good time to do something
EXAMPLE: Now that both parents have stable jobs, they think the time is right to start looking for a home to buy.
think twice
ka fikir laba jeer
be very careful before making a big decision
EXAMPLE: Before you buy a house, you should think twice. Are you sure your job is stable? Do you earn enough to cover the monthly payment? Are you sure you don't want to move to another city or state?
what's more
waxa intaa ka badan
in addition to this
EXAMPLE: He lost his job. What's more, his car broke down.
qualified
u qalma
you meet all of the requirements
EXAMPLE: The lender said I was qualified for a loan because I met all of the requirements, such as earning enough money and having a good credit score.