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budget and banking
| Term | Definition |
|---|---|
| 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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