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budget and banking
| Term | Definition |
|---|---|
| 1. ATM | An automated teller machine (ATM), also known as automatic banking machine (ABM), Cash Machine, or Cashpoint |
| 2. 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 |
| 3. Budget | An estimate of income and expenditure for a set period of time. |
| 4. Checking Account | An account at a bank against which checks can be drawn by the account depositor |
| 5. Cleared Check | Movement of a check from the bank in which it was deposited to the bank on which it was drawn |
| 6. Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans, etc |
| 7. Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase. |
| 8. Deposit | A sum of money placed or kept in a bank account, usually to gain interest. |
| 9. Direct Deposit | The electronic transfer of a payment directly from the account of the payer to the recipient's account. |
| 10. Endorse | 1.Declare one's public approval |
| 11. Expense | The cost required for something; the money spent on something |
| 12. FDIC | Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits. |
| 13. Fees | 1.A payment made for professional advice or services |
| 14. Financial Literacy | Financial literacy is the ability to understand finance |
| 15. Financial Security | A security is a fungible, negotiable instrument representing financial value |
| 16. Fixed Expense | Costs of owning and operating a property that are not discretionary and, except for occasional increases, |
| 17. Income | Money received, esp. on a regular basis, for work or through investments. |
| 18. Interest | Interest is a fee paid on borrowed assets. It is the price paid for the use of borrowed money, |
| 19. Loan Overdraft | your bank will cover checks which would otherwise bounce. As with any loan |
| 20. Memo | A written message, esp. in business; a memorandum. |
| 21. Needs | Cannot avoid or help doing something: "they must needs depart". |
| 22. Non-sufficient funds (NSF) | A term used to indicate when an item such as a check |
| 23. Online Banking | Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated |
| 24. Payee | A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable |
| 25. Payer | a person who pays money for something |
| 26. Reconcile | Analysis and adjustment of differences between the cash balance shown on a bank statement |
| 27. Savings | The money one has saved, esp. through a bank or official scheme |
| 28. Variable Expenses | Variable costs are expenses that change in proportion to the activity of a business |
| 29. Wants | The human motives that induce the business and economic activities which produce the desired goods and services |
| 30. Withdrawal | An act of taking money out of an account |
Created by:
sampangburn
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