Menu

Installment for Dummies

noun

pronunciation: ɪn'stɔlmənt

What does Installment really mean?

62 1
62
Hey there, buddy! Let me help you understand what the word "installment" means. So, imagine you really want that cool toy you saw at the store, but it's a bit too expensive to buy all at once. Well, guess what? That's where "installments" come into play!

Now, picture this. Let's say you decide to buy the toy using installments. This means that instead of paying for the entire toy right away, you can break the cost down into smaller, more manageable parts. So, instead of feeling overwhelmed by the big price tag, you get to pay a little bit at a time.

Think of it like you borrowing some money from a friend, but instead of paying them back in one go, you give them a little bit every month. It's just like that! It's a way to make buying something easier on our wallets, especially when we can't afford to pay for it all at once.

Installments can be like a balance, helping us find that sweet spot between getting what we want and being able to afford it comfortably. It's like spreading out the cost into smaller portions, so it doesn't weigh too heavily on our shoulders.

Now, there's something important to know about installments. They usually come with a little extra cost. So, let's go back to that toy. If you buy it using installments, you might end up paying a bit more in the end. That's because the store might add a small fee or interest for letting you pay over time. It's like a little extra charge for the convenience they're offering.

But hey, don't worry, my friend! It's not meant to trick you or anything. It's just a way for the store to make some money while being kind enough to let you split your payment. Just make sure to understand all the details before you choose installments, okay?

So, in a nutshell, "installment" means breaking down a big payment into smaller, more manageable parts. It's like paying for something over time instead of all at once. Just like borrowing some money from a friend and paying them back bit by bit.

I hope that makes sense to you, my friend! If you have any more questions or need further clarification, feel free to ask. Remember, learning is all about taking small steps and finding our own way of understanding things. You've got this!

Revised and Fact checked by Michael Davis on 2023-10-29 03:12:05

Installment In a sentece

Learn how to use Installment inside a sentece

  • When you buy a new toy, you can pay for it little by little every month. Each month, you give some money to the store. This is called an installment.
  • If you want to buy a new phone but you don't have enough money to pay for it all at once, you can choose to pay for it in small amounts every month. Those small amounts are known as installments.
  • Imagine you want to buy a bike but it is too expensive to pay for all at once. Instead, you can pay for it by giving a specific amount of money every month. Each month, you pay an installment until you finish paying for the bike.
  • Let's say you wish to buy a video game console that costs a lot of money. Instead of paying the full price in one go, the store allows you to pay for it gradually. You agree to pay a fixed amount every month, and these fixed amounts are called installments.
  • Suppose you want to buy a new bookshelf for your room. The store allows you to pay a fraction of the total cost each month until the full amount is paid. These small payments made every month are called installments.

Installment Synonyms

Words that can be interchanged for the original word in the same context.

Installment Hypernyms

Words that are more generic than the original word.

Installment Hyponyms

Words that are more specific than the original word.

Installment Holonyms

The larger whole to which this word belongs.