payment-due

Vocabulary Word

Definition

'Payment due' is a term used when a certain amount of money needs to be paid before or on a determined date. Think of it like a deadline for handing in an assignment, but for money.

Examples in Different Contexts

In personal finance, 'payment due' indicates when a payment is expected. A financial advisor might advise, 'Setting reminders for your payment due dates can help avoid late fees.'

Practice Scenarios

Impact

Scenario:

The non-profit is expecting the next installment of funding soon. Let's organize our efforts to maximize resource utilization.

Response:

Right, and monitoring how we are using the funds against the payment due dates will help ensure we stay on track with our objectives.

Tech

Scenario:

The costs for our subscription software will soon add up, especially considering our expansion plans.

Response:

I agree. We need to consider the payment due dates for our subscriptions and perhaps find more cost-effective solutions.