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Budget and Banking
| ATM | automated teller machine, a machine at a bank branch or other location which enables a customer to perform basic banking |
| Account Balance | The amount of money in a financial repository, such as a checking account, at any given moment. |
| Budget | 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, 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 | to write on the back of; especially : to sign one's name as payee |
| 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 | the ability to understand finance |
| Finacial Security | A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities |
| Fixed Expense | Costs of owning and operating a property that are not discretionary and, except for occasional increases, do not change |
| Income | Money received, esp. on a regular basis, for work or through investments |
| Interest | The charge for the privilege of borrowing money, typically expressed as an annual percentage rate |
| 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 make withdrawals |
| Memo | a short message sent from one person to another in the same organization. |
| Needs | a requirement, necessary duty, or obligation |
| Non-sufficent Funds | Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a demand for payment (a check) cannot be honored |
| Online Banking | Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail |
| 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 | to bring into agreement or harmony; make compatible or consistent: to reconcile differing statements; to reconcile accounts. |
| Savings | money put into an account to be used at a later time |
| Variable Expenses | Variable costs are expenses that change in proportion to the activity of a business |
| Wants | something you can live without |
| Withdrawl | An act of taking money out of an account. |
Created by:
camarahlove
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