budget & banking Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Term | Definition |
ATM | automated teller machine, a machine at a bank branch or other location which enables a customer to perform basic banking activities |
Account Balance | The amount of money in an account, equal to the net of credits and debits at that point in time for that account |
Budget | An itemized forecast of an individual's or company's income and expenses expected for some period in the future |
checking account | An account which allows the holder to write checks against deposited funds |
cleared check | Movement of a check from the bank in which it was deposited to the bank on which it was drawn |
credit union | Financialcooperative created for and by its members who are its depositors, borrowers, and shareholders |
Debit Card | Bank card used in cash transactions, but which is not a credit card |
deposit | Funds placed into an account at a depository institution to increase the credit balance of the account |
direct deposit | Automatictransfer of salaries, wages, rents, benefits, or other such sums, directly to the account of an employee or beneficiary |
endorse | to write on the back of; especially : to sign one's name as payee |
expense | Money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business |
FDIC | Insurance policy provided by financial institutions affiliated with the FDIC |
fees | In contracts based on cost reimbursement pricing, the 'fee' represents an amount beyond the initial cost estimates |
Financial Literacy | Possessing the knowledge necessary to understand concepts related to finance |
Fixed Expense | see fixed cost |
Income | For corporations, revenues minus cost of sales, operating expenses, and taxes, over a given period of time |
Interest | The fee charged by a lender to a borrower for the use of borrowed money |
Loan Overdraft | The amount by which withdrawals exceed deposits, or the extension of credit by a lending institution to allow for such a situation |
Memo | An accounting entry with no debit or credit amounts |
Financial Security | being free from money problems, having a back up plan |
Needs | A motivating force that compels action for its satisfaction |
Withdrawal | A removal of funds from an account |
Wants | the market has tended to be long on stuff in people’s basements and attics that they won’t ever need and short on stuff that can have a broader impact on economic efficiency |
Variable Expenses | An unavoidable periodic cost that does not have a constant value, such as an electric bill |
Savings | The part of a person's income that is not spent |
Reconcile | to make two financial accounts or statements agree |
Payer | In fixed-rate interest swap agreements, the party that pays a fixed rate of interest while receiving floating rate interest from the counterparty |
Payee | One who receives a payment, such as through cash, check, money order, or promissory note |
Online Banking | A system allowing individuals to perform banking activities at home, via the internet |
Non-sufficient funds (NSF) | dont have enough money to cover the checks they wrote |
Created by:
tawilliams
Popular Finance sets