Co-signer
Also called: cosigner, co-sign, cosign
A person who signs your loan with you and promises to pay if you don't. If the loan is not paid, it hurts their credit too.
Example
Your mom co-signs on your first apartment because you don't have credit yet.
Why it matters
Only co-sign for someone if you could pay the whole loan yourself and still be okay.
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More in Loans
APR
Short for Annual Percentage Rate. It is the total yearly cost of a loan or credit card, with interest and some fees in one number.
Buy Now, Pay Later (BNPL)
A way to split a purchase into a few smaller payments, like 4 payments every two weeks. It feels easy, but missed payments can bring fees.
Down Payment
The cash you pay up front when you buy something big, like a house or car. The rest you pay with a loan.
Interest
The extra money you pay to borrow money. It also means the extra money a bank pays you when you save.
For learning, not personal financial, tax or legal advice. Rules and limits can change each year, so check official sources (like IRS.gov or your plan's documents) or a trusted pro before big decisions.