Budget and Banking
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| ATM | automated teller machine
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| Account Balance | A balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world....
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| Budget | An estimate of income and expenditure for a set period of time.
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| Checking Account | An account at a bank against which checks can be drawn by the account depositor
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| Cleared Check | This process (called 'clearing cycle') normally results in a credit to the account at the bank of deposit, and an equivalentdebit to the account at the bank on which it was drawn.
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| Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans
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| Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
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| Deposit | A sum of money placed or kept in a bank account, usually to gain interest.
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| Direct Deposit | The electronic transfer of a payment directly from the account of the payer to the recipient's account.
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| Endorse | Declare one's public approval or support of
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| Expense | The cost required for something; the money spent on something
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| FDIC | Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits.
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| Fees | A payment made for professional advice or services.
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| Financial Literacy | the ability to understand finance
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| Financial Security | a fungible, negotiable instrument representing financial value
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| Fixed Expense | Costs of owning and operating a property that are not discretionary and, except for occasional increases
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| Income |
Money received, esp. on a regular basis, for work or through investments.
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| Interest | The state of wanting to know or learn about something or someone: "many people lose interest in history".
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| Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit) against which a current (checking) account customer can write checks or makewithdrawals.
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| 2Memo | A written message, esp. in business; a memorandum.
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| Needs | A condition or situation in which something is required or wanted
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| 2Non-sufficient funds (NSF) | a check that is dishonored on presentation because of insufficient funds
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| Online Banking | allows customers to conduct financial transactions on a secure website operated by their retail
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| Payee | A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.
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| 2Payer | a person who pays money for something
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| Reconcile | To settle or resolve
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| Savings | An economy of or reduction in money, time, or another resource
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| Variable Expenses | expenses that change in proportion to the activity of a business
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| Wants | A lack or deficiency of something; Have a desire to possess or do (something)wish for.
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| Withdrawal | Take (money) out of an account
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Created by:
rspell
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