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budget and banking

TermDefinition
1. ATM automated Teller Machine add this to your definition so you know what it stands for
2. 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. also called balance.
3. Budget An estimate of income and expenditure for a set period of time.
4. Checking Account An account at a bank against which checks can be drawn by the account depositor.
5. Cleared Check The movement of a check from the depository institution at which it was deposited back to the institution on which it was written;
6. Credit Union A nonprofit financial cooperative offering deposit accounts, low-interest loans, etc.
7. 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. A sum of money placed or kept in a bank account, usually to gain interest. A sum of money placed or kept in a bank account, usually to gai
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 1.Declare one's public approval or support of 1.Declare one's public approval or support of
Expense The cost required for something
FDIC Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits.
Fees 1.A payment made for professional advice or services
Financial Literacy Financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allow an...
Financial Security A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities...
Fixed Expense Any expense that does not change from period to period, such as loan payments..
Income Money received, esp. on a regular basis, for work or through investments.
Interest the percentage of a sum of money charged for its use
Loan Overdraft An extension of credit from a lending institution when an account reaches zero.
Memo A written message, esp. in business; a memorandum.
Needs Cannot avoid or help doing something: "they must needs depart".
Non-sufficient funds (NSF 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 or
Payee 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 An economy of or reduction in money, time, or another resource
Variable Expenses Variable costs are expenses that change in proportion to the activity of a business.Garrison, Noreen, Brewer
Wants Have a desire to possess or do (something); wish
Withdrawal 1.The action of withdrawing something
Created by: joiwoods96
 

 



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