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reading test money
Term | Definition |
---|---|
asset | an item owned that has value |
automated teller machine | a machine that can perform banking transactions |
balance | the amount of money in an account ; to find the difference between the debits and credits in an account |
budget | a plan created to monitor spending and saving ; to plan for expenses |
capital | the value of personal items owned , including savings , investments , and property |
credit report | your financial report card , which includes a record of whether you have been on time in making your loan and credit payments ; the information in your credit report determines your credit score , which is shared with lenders and landlords |
debit card | a plastic card used of purchases and cash withdrawals that takes money directly from a bank account |
debt | money owed |
deposit | money put into an account ; to put money into an account |
dividend | a sum of money given as a bonus based on earnings or savings from a bank or company |
draft | another name for a check , which is a written order instructing a financial institution to pay a specific amount of money from the account of the person whose name is signed at the bottom ; to take money from an account |
finance charge | the total dollar amount a buyer pays to use credit , including interest costs , service charges , and insurance |
fixed | not changing |
gross income | the total amount of earnings before any taxes or other payments are taken out |
liability | the amount a person owes , including unpaid bills , credit card charges , personal loans , and taxes |
mortgage | a loan to buy real estate , including a home and / or property |
net income | the amount of pay left after all payroll deductions have been taken out ; also called take-home pay |
net worth | the amount of what you have of value minus what you owe |
interest 1 | the amount paid to a lender for borrowing money |
overdraft | a withdrawal from a bank account that exceeds the balance ; this can result in checks being returned and fees being charged |
personal identification number | |
principal | |
routing number | |
variable |