Overdraft protection is a service offered by banks that issues you a short-term loan when you make a purchase with your debit card or write a check for more than your balance. However, the service comes at a cost, and it can sometimes be far more expensive than having the purchase denied.

Renting versus buying refers to the decision that people have to make when deciding where to live. The question has different answers for different people, and there’s more than just financial considerations to think about when making your decision. Renting can be less expensive up front, but owning may cost you less of the long term.

Savings refer to money you put aside for future use rather than spending it immediately. In addition to the benefits of saving up for future purchases, delaying an impulse purchase also helps you decide whether it is something you really need, or a waste of money you will regret shortly after buying.

Severance pay refers to payments made by an employer when employees are laid off or accept voluntary early retirement. Usually, you won’t receive severance pay if you quit or are fired for cause, but there are exceptions.

“Vesting” refers to the process by which you become the owner of the employer contributions to your retirement plan.