Fungible means interchangeable. The word comes into play when (inter alia) earmarked funds end up in a general account. These funds are then free to be used for purposes other than intended. Example: You would like to go on a vacation but you have unpaid car repair bills. A wealthy uncle hears that you are having financial trouble and sends money to help. However, he would never agree to pay for your vacation - hes nice, but not that nice. Once your uncles money is deposited into your checking account, you are free to spend it as you please. You then get to pay off your[...]
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[Source: The Money Blogs]
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