Unpaid

Meaning :

Unpaid refers to money that is due but has not yet been paid. This term  applies to bills, fees, loans, or purchases that remain outstanding.

Example : 

For example, if your ₹800 internet bill remains unpaid after the due date, it  indicates that you have not settled it yet.

How to Understand : 

Consider “unpaid” as a reminder that there is still money owed.

The amount stays unpaid until you clear the payment.

Unpaid amounts can lead to:

•Penalties for not paying on time.

•Late fees added to your bill.

•Service interruptions if the payment is not made.

Importance :

It helps you track your pending financial responsibilities effectively.

Understanding unpaid amounts prevents late fees and penalties from accumulating.

Timely payments help maintain a positive credit score.

It is crucial for personal budgeting and managing business accounts.