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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 | an estimate, often itemized, of expected income and expense for a given period in the future. |
| Checking Account | a bank deposit against which checks can be drawn by the depositor. |
| Cleared Check | he victim/recipient is supposed to transfer a large chunk of that money to the scammer |
| Credit Union | a cooperative group that makes loans to its members at low rates of interest. |
| Debit Card | a plastic card that resembles a credit card but functions like a check and through which payments for purchases or services are made electronically to the bank accounts of participating retailing establishments directly from those of card holders. |
| Deposit | to place for safekeeping or in trust, especially in a bank account: He deposited his paycheck every Friday. |
| Direct Deposit | a plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients. |
| Endorse | to approve, support, or sustain: to endorse a political candidate |
| Expense | cost or charge: the expense of a good meal. |
| FDIC | Federal Deposit Insurance Corporation. |
| Fees | a charge or payment for professional services: a doctor's fee. |
| Financial Literacy | Financial literacy is the ability to understand how money works in the world |
| Financial Security | A security or financial instrument is a tradable asset of any kind. Securities are broadly categorized into: debt securities |
| Fixed Expense | Fixed expenses are expenses that remain static rather than fluctuating over time |
| Income | the monetary payment received for goods or services, or from other sources, as rents or investments. |
| Interest | the feeling of a person whose attention, concern, or curiosity is particularly engaged by something: She has a great interest in the poetry of Donne. |
| Loan Overdraft | If you have an overdraft account, your bank will cover checks which would otherwise bounce. |
| Memo | memorandum. |
| Needs | of necessity; necessarily (usually preceded or followed by must ): It must needs be so. It needs must be. |
| 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 |
| Online Banking | banking online |
| Payee | a person to whom a check, money, etc., is payable. |
| Payer | to settle (a debt, obligation, etc.), as by transferring money or goods, or by doing something: Please pay your bill. |
| Reconcile | to cause (a person) to accept or be resigned to something not desired: He was reconciled to his fate. |
| Savings | tending or serving to save; rescuing; preserving |
| Variable Expenses | A cost that fluctuates directly with output changes. variable cost. n. (Economics) a cost that varies directly with output |
| Wants | to feel a need or a desire for; wish for: to want one's dinner; always wanting something new. |
| Withdrawal | Also, with·draw·ment. the act or condition of withdrawing |
Created by:
ees1276
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