Glossary
Equity
The amount you would get if you sold an asset and paid back any money you owed on it. For example, if you have a house worth $350,000, and a $300,000 mortgage, your equity in your house is $50,000.
An asset is a useful or valuable person or thing. In financial terms it's an item that can be converted into cash such as bank deposits, shares or property.
The amount you would get if you sold an asset and paid back any money you owed on it. For example, if you have a house worth $350,000, and a $300,000 mortgage, your equity in your house is $50,000.
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Here you'll find explanations of the many financial terms used throughout the Sorted website.
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