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Budget and bank

Definition
ATM automated-teller machine
Account balance The current account balance is the difference between a country's savings and its investment.
budget An estimate of income and expenditure for a set period of time. 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
Credit Union A nonprofit financial cooperative offering deposit accounts
Depit Card A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
Deposit 1.The action of deposing someone
Direct Deposit The electronic transfer of a payment directly from the account of the payer to the recipient's account. The electronic transfer of a payment directly from the account of the payer to the recipient's account.
Endorse Declare one's public approval or support of.
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.
Finacial Literacy Financial literacy is the ability to understand finance.
Finacial Security A security is a fungible, negotiable instrument representing financial value
Fixed Expense Costs of owning and operating a property that are not discretionary
income Money received
interest The state of wanting to know or learn about something or someone
Loan overdraft Loan arrangement under which a bank extends credit up to a maximum amount
memo A person's power to remember things
needs Cannot avoid or help doing something
non-suffient funds (NSF) is a term used in the banking industry to indicate that a demand for payment
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
payer a person who pays money for something.
Reconcile Restore friendly relations between
Saving An economy of or reduction in money
Variable Expenses Variable costs are expenses that change in proportion to the activity of a business
Wants Have a desire to possess or do
Withdrawl The action of withdrawing something
Created by: allenwright on 2013-03-18



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