Words you will often hear
Savings goal
What you are saving for, how much you need and by when. Example: 120,000 RWF over 6 months, starting from zero, means 20,000 RWF per month with no interest assumed.
Income and spending
Income is money you receive. Spending is money you pay out. Recording both and their timing helps you understand your plan.
Principal and interest
Loan principal is the amount borrowed. Interest is a borrowing cost; other fees may also apply. Ask how interest is calculated and what the total repayment would be.
Emergency reserve
Money you set aside for unexpected needs or lower income. The appropriate amount depends on your circumstances and essential needs.
General educational sources: CFPB · Your Money, Your Goals · CFPB · Emergency savings. These are not INTWARI terms or prices.