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Budget And Banking
| Term | Definition |
|---|---|
| ATM | Automated Teller Machine |
| Account Balance | The amount of money in a financial repository, such as a checking account, at any given moment |
| Budget | A budget can be made for a person, family, group of people, business, government, country, multinational organization or just about anything else that makes |
| Checking Account | A transactional deposit account held at a financial institution that allows for withdrawals and deposits. |
| Cleared Check | A check that has cleared the depositor's account and has been marked as "canceled" by the bank. |
| Credit Union | Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners. |
| Debit Card | An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services. |
| Deposit | A transaction involving a transfer of funds to another party for safekeeping. |
| Direct Deposit | Electronic funds that are deposited directly into your bank account rather than through a paper check. |
| Endorse | model thought to be used by the Federal Reserve that hypothesizes a relationship between long-term Treasury notes and the market return of equities. Many security analysts use this model in valuing equities |
| Expense | The economic costs that a business incurs through its operations to earn revenue. |
| FDIC | The FDIC was created in 1933 to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices. |
| Fees | payment made for professional advice or services |
| Financial Literacy | The possession of knowledge and understanding of financial matters. Financial literacy is mainly used in connection with personal finance matters |
| Financial Security | An account that is used to set aside funds to be used in an emergency, such as the loss of a job, an illness or a major expense. |
| 16. Fixed Expense | An interest rate on a liability, such as a loan or mortgage, that remains fixed either for the entire term of the loan or for part of this term |
| 17. Income | Economic wealth that is generated in exchange for an individual's performance of agreed upon activities or through investing capital. |
| 18. Interest | The charge for the privilege of borrowing money, typically expressed as an annual percentage rate. |
| 19. Loan Overdraft | An extension of credit from a lending institution when an account reaches zero. |
| 20. Memo | a note |
| 21. Needs | something u do |
| 22. Non-sufficient funds (NSF) | |
| 23. Online Banking | to have money availbe on line |
| 24. Payee | a benetiful person |
| 25. Payer | to provid money |
| 26. Reconcile | Restore friendly relations between: "she wanted to be reconciled with her father. |
| 27. Savings | to take care money |
| 28. Variable Expenses | A corporate expense that varies with production output |
| 29. Wants | to have something to d3esire |
| 30. Withdrawal | to take money out |
Created by:
dallen05
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