Budget and Banking
|ATM ||automated teller machine |
|Account Balance ||A balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world....|
|Budget ||An estimate of income and expenditure for a set period of time.|
|Checking Account ||An account at a bank against which checks can be drawn by the account depositor|
|Cleared Check ||This process (called 'clearing cycle') normally results in a credit to the account at the bank of deposit, and an equivalentdebit to the account at the bank on which it was drawn. |
|Credit Union ||A nonprofit financial cooperative offering deposit accounts, low-interest loans|
|Debit Card ||A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.|
|Deposit ||A sum of money placed or kept in a bank account, usually to gain interest.
|Direct Deposit ||The electronic transfer of a payment directly from the account of the payer to the recipient's account.|
|Endorse ||Declare one's public approval or support of|
|Expense ||The cost required for something; the money spent on something|
|FDIC ||Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits.|
|Fees ||A payment made for professional advice or services.|
|Financial Literacy ||the ability to understand finance|
|Financial Security ||a fungible, negotiable instrument representing financial value|
|Fixed Expense ||Costs of owning and operating a property that are not discretionary and, except for occasional increases|
Money received, esp. on a regular basis, for work or through investments.
|Interest ||The state of wanting to know or learn about something or someone: "many people lose interest in history".|
|Loan Overdraft ||Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit) against which a current (checking) account customer can write checks or makewithdrawals.|
|2Memo ||A written message, esp. in business; a memorandum.
|Needs ||A condition or situation in which something is required or wanted|
|2Non-sufficient funds (NSF) || a check that is dishonored on presentation because of insufficient funds|
|Online Banking ||allows customers to conduct financial transactions on a secure website operated by their retail |
|Payee ||A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.|
|2Payer ||a person who pays money for something|
|Reconcile ||To settle or resolve|
|Savings ||An economy of or reduction in money, time, or another resource|
|Variable Expenses ||expenses that change in proportion to the activity of a business|
|Wants ||A lack or deficiency of something; Have a desire to possess or do (something)wish for.
|Withdrawal ||Take (money) out of an account