These two design terms are practices I have always used however the actual terms themselves were not in my knowledge till recently. I came across an article someone posted on Twitter regarding flat design versus skeuomorph design. I was very surprised to learn that adding a texture as part of a background was called skeuomorph design. Much to my pleasure of learning this, it also came to my attention that the application of the term skeuomorph to this type of design was incorrect. Because skeuomorphism applies to physical objects whereas the use of the term in design is for flat, digitised screen elements.
Flat design is the second term that I came across, this focuses on keeping the design style: simple, clean and minimal. Keeping the design as basic as possible and showing only the bits that will get the visual representation across. This suits my own design style the best however I would really love to be able to get a suit for the occasion.