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Budget and Banking
| Term | Definition |
|---|---|
| ATM | an electronic machine that enables customers to withdraw paper money or carry out other banking transactions on insertion of an encoded plastic card |
| Account Balance | The amount of money in an account, equal to the net of credits and debits at that point in time for that account |
| Budget | A budget is a description of a financial plan. |
| Checking Account Cleared Check | To exchange checks and bills or settle accounts through a clearing-house. |
| Credit Union | a cooperative savings association that makes loans to its members at reduced interest rates |
| Debit Card | a plastic card that the holder can use to pay for purchases, the money being transferred directly from the holder's bank account to the seller |
| Deposit | An amount of money held at a financial institution on behalf of an account holder for safekeeping. For example, one may keep a deposit in one's checking |
| Direct Deposit | An amount of money held at a financial institution on behalf of an account holder for safekeeping. For example, one may keep a deposit in one's checking |
| Endorse | to write on the back of; especially: to sign one's name as payee on the back of (a check) in order to obtain the cash or credit ... |
| Expense | Any cost of doing business resulting from revenue-generating activities. |
| FDIC | agency insuring bank deposits: the federally chartered organization that insures deposits in U.S. banks |
| Fees | In contracts based on cost reimbursement pricing, the 'fee' represents an amount beyond the initial cost estimates, and reflects factors such as the ... |
| Financial Literacy | The possession of knowledge and understanding of financial matters |
| Financial Security | Piece of paper that proves ownership of stocks , bonds , and other investment |
| Fixed Expense | While logged in, you can: View usage examples; Save your favorite terms; Manage your subscriptions |
| Income | The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property ... |
| Interest | 2.quality that attracts attention: a power, quality, or aspect of something that attracts attention, concern, or curiosity |
| 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 |
| Memo | 2.reminder: a note intended to serve as a reminder of something |
| Needs | 1.emphasizing necessity: used before or after "must" to reinforce necessity, urgency, or inevitability |
| Non-sufficient funds (NSF) | An acronym used in the banking industry to signify that there are "non-sufficient funds" in an account in order to honor a |
| Online Banking | 1.electronic banking via the Internet: a system of banking in which customers can view their account details, pay bills, and transfer money by means of the Internet |
| Payee | 1.person being paid: somebody to whom money is being paid or is due, especially the person to whom a check or money order is payable |
| Payer | 2.somebody responsible for payment: the person named as responsible for the payment of a check, money order, or other financial paper when it is redeemed |
| Reconcile | 1.put people back on friendly terms: to bring two or more people back into a friendly relationship with each other after a dispute or estrangement, or return to a friendly relationship |
| Savings | 1.money saved: money set aside for future use |
| Variable Expenses | 1.cost determined by output: a cost that varies directly in relation to output |
| Wants | 1.desire something: to feel a need or desire for something |
| Withdrawal | 1.taking money from bank: the act of taking money from a bank account, or the amount of money taken out |
Created by:
kdurham
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