Budget and Banking
||A machine that provides cash and performs other banking services on insertion of a special card.|
||The amount of money in a financial repository, such as a checking account, at any given moment.|
||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 ||Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction.
|Credit Union ||A nonprofit financial cooperative offering deposit accounts, low-interest loans, etc.
|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 ||to write on the back of; especially : to sign one's name as payee|
|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 security is a fungible, negotiable instrument representing financial value.|
|Fixed Expense ||A cost that does not change with an increase or decrease in the amount of goods or services produced.|
|Income ||Money received, esp. on a regular basis, for work or through investments|
|Interest || A charge for a loan, usually a percentage of the amount loaned.|
|Loan Overdraft ||An extension of credit from a lending institution when an account reaches zero.|
|Memo ||A written message, esp. in business; a memorandum.|
|Needs ||A condition or situation in which something is required or wanted|
|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 check drawn on that account|
|Online Banking ||A system allowing individuals to perform banking activities at home, via the internet.
|Payee ||A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.|
|Payer ||a person who pays money for something.|
|Reconcile ||to bring into agreement or harmony; make compatible or consistent: to reconcile differing statements; to reconcile accounts.|