Tender Offer: What It Is, How It Works, and What It Means for Investors
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Key terms
- Pre-Qualified OfferA credit card offer based on a soft credit inquiry that doesn't affect credit score. Not a guarantee of approval, which requires a hard inquiry and full application.
- Room and BoardThe combined cost of housing and meal plans at a college or university, which is a significant portion of the overall cost of attendance. Room and board costs vary depending on whether you live on campus, off campus, or at home, and the type of meal plan you select. Many colleges require first-year students to live on campus and purchase a meal plan.
- Offer in CompromiseAn agreement with the IRS that allows taxpayers to settle their tax debt for less than the full amount owed. The IRS considers ability to pay, income, expenses, and asset equity when evaluating offers. Acceptance rates are relatively low.
- Living Below Your MeansA financial philosophy of spending less than you earn, creating a surplus for saving and investing. This habit is the foundation of building wealth over time, regardless of income level. It requires distinguishing needs from wants.
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