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Budget and Banking
| Term | Definition |
|---|---|
| ATM | Automatied teller machine |
| 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 summary of estimated or intended expenditures for a given period along with proposals for financing them |
| Checking Account | An account at a bank against which checks can be drawn by the account depositor. An account at a bank against which checks can be drawn by the account depositor An account at a bank against which checks can be drawn by the account deposito |
| 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. 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 | Declare one's public approval or support of. Recommend (a product) in an advertisement |
| Expense | The cost required for something; the money spent on something. 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 | knowing about money |
| Financial Security | A security is a fungible, negotiable instrument representing financial value. |
| Fixed Expense | Costs of owning and operating a property that are not discretionary and, except for occasional increases, |
| Income | Money received, esp. on a regular basis, for work or through investments. |
| Interest | The state of wanting to know or learn about something or someone: "many people lose interest in history". |
| Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount overdraft limit against which a current checking account customer can write checks or make withdrawals/ |
| Memo | A written message, esp. in business; a memorandum. |
| Needs | something you can't live without |
| Non-sufficient funds (NSF) | A term used to indicate when an item such as a check, or other transaction presented for payment is returned unpaid |
| Online Banking | Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website |
| 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 | Cause to coexist in harmony; make or show to be compatible. |
| Savings | An economy of or reduction in money, time, or another resource. The money one has saved, esp. through a bank or official scheme |
| Variable Expenses | Variable expense) Variable costs are expenses that change in proportion to the activity of a business. |
| Wants | something you would like to have but don't need to survive. |
| Withdrawal | An act of taking money out of an account. |
Created by:
Tarah
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