Skip to main content Accessibility Statement
man texting on phone

QUIZ: TXT SPK or financial terms?

From LOL to PAYE, text speak and financial acronyms can often feel like another language. Are you confused by abbreviations or a master at understanding what they mean? 

A new poll by Nationwide has found text speak is often easier to understand than many financial terms, resulting in more than one in ten having financial difficulty thanks to unclear terminology.

The easiest text terms to understand were LOL (Laugh Out Loud) and OMG (Oh My God) with nearly four in five people correctly "translating" them.

PAYE (Pay As Your Earn) and ATM (Automated Teller Machine) were the most well known financial terms, with two thirds of UK adults able to explain what they meant.

Amongst the least known were CTF (Child Trust Fund) and NCD (No Claims Discount).

How do you think you'd fare? Try our quick quiz below to see if you know your text speak from financial terms.

 
 
 

If you're confused by jargon, we've a few glossaries and jargon busters to make them easier to understand.

Universal Credit glossary

Pension and Retirement jargon buster

Insurance jargon buster PDF

Home buying jargon buster PDF

What do you think?

We really want you to share your views, but please remember to be nice ☺
All fields are required. Check out our full commenting guidelines

By clicking on 'Post Comment', you're agreeing to our Commenting Policy