Category: L

Definition Lifestyle creep, also known as lifestyle inflation, is a phenomenon where an individual’s expenditures increase with their income. As people earn more, they tend

Definition The Lightning Network is a second layer technology applied over a blockchain, primarily Bitcoin, aiming to enable fast and cheap transactions. It works by

Definition Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum

Definition The Lifetime Learning Credit is a tax benefit in the United States to offset higher education expenses. It allows an individual to reduce their

Definition LIFO Liquidation is a process in accounting where a company using the Last-In, First-Out (LIFO) method of inventory costing sells off inventory that was

Definition A Life Income Fund (LIF) is a type of retirement income plan under Canadian tax law that individuals can utilize after they convert their

Definition A life settlement is a financial transaction where a policyholder sells their life insurance policy to a third party for a lump sum. The

Definition Lifetime cost is a financial term that refers to the total expenses associated with a product or service over its entire life cycle. This

Definition The LIFO Reserve is a financial accounting term which is the difference in value between the Last In, First Out (LIFO) method and the

Definition Like-for-like sales, also known as same-store sales or comparable store sales, refer to the revenue comparison of retail stores that have been open for