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Budget and Banking
| Term | Definition |
|---|---|
| ATM | automated-teller machine |
| 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 | The action of deposing someone, esp. a monarch |
| 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. |
| 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 | Money paid as part of a special transaction |
| Financial Literacy | Financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge. |
| Financial 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 | money you earn on an investment. |
| Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit) against which a current (checking). |
| Memo | A written message |
| Needs | Cannot avoid or help doing something |
| 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 because the availablity. |
| 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 | Cause to coexist in harmony; make or show to be compatible |
| Savings | The money one has saved. |
| Variable Expenses | costs are expenses that change in proportion to an activity of a business. |
| Wants | A lack or deficiency of something. |
| Withdrawal | An act of taking money out of an account. |
Created by:
desburruss
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