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Budget and Banking
| Question | Answer |
|---|---|
| automated teller machine or automatic teller machine | ATM |
| The amount of money in a financial repository, such as a checking account, at any given moment. | Account Balance |
| a quantified financial plan for a forth coming accounting period. | Budget |
| transactional deposit account held at a financial institution that allows for withdrawals and deposits. | Checking Account |
| The movement of a check from the depository institution at which it was deposited back to the institution on which it was written | Cleared Check |
| a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift | Credit Union |
| An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services. | Debit Card |
| Money given in advance to show intention to complete the purchase of a property. | Deposit |
| a deposit of money straight from the source into a bank account | Direct Deposit |
| to write on the back of; especially : to sign one's name as payee | Endorse |
| The economic costs that a business incurs through its operations to earn revenue. | Expense |
| Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the U.S. Congress to maintain stability | FDIC |
| the price one pays as remuneration for services | Fees |
| the ability to understand how money works in the world | Financial Literacy |
| A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities | Financial Security |
| Costs of owning and operating a property that are not discretionary and, except for occasional increases, | Fixed Expense |
| Money received, esp. on a regular basis, for work or through investments. | Income |
| The price paid for borrowing money. It is expressed as a percentage rate over a period of time and reflects the rate of exchange of present consumption | Interest |
| 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 makewithdraw. | Loan Overdraft |
| A written message, esp. in business; a memorandum | Memo |
| A motivating force that compels action for its satisfaction | Needs |
| a term used in the banking industry to indicate that a demand for payment (a cheque) cannot be honored because insufficient funds | Non-sufficient funds (NSF) |
| Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail | Online Banking |
| A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable. | Payee |
| a person who pays money for something. | Payer |
| key process used to determine whether the money leaving an account matches the amount | Reconcile |
| 1.An economy of or reduction in money, time, or another resource. 2.The money one has saved, esp. through a bank or official scheme | Savings |
| Variable costs are expenses that change in proportion to the activity of a business | Variable Expenses |
| The human motives that induce the business and economic activities which produce the desired goods and services | Wants |
| 1.The action of withdrawing something. 2.An act of taking money out of an account. | Withdrawal |
Created by:
JoseM.
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