Business terms and jargon explained. Your business dictionary
What is Out of Pocket
The out of pocket phase is used when someone using their own money instead of using or claiming from their employers or business. Example, the office drinks night cannot be paid by the business and the director pays out of their own pocket. This is an out of pocket expense.
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.