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budget and banking
| WORD | Definition |
|---|---|
| ATM | automated-teller machine |
| 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. |
| 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 | a check thats been approved or cleared |
| 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 | are things that a person buys every month |
| FDIC | fianacal department of credit |
| Fees | extra money you pay for certain items |
| Financial Literacy | the teaching of a person to manage their money right. |
| Financial Security | when you a financally stable. |
| Fixed Expense | when you pay that expense because you have to not beacuse you want to. |
| Income | the money you earn every pay check |
| Interest | extra money you have to pay |
| Loan Overdraft | when you go over the deadline of your loan and pay more. |
| Memo | 1.A person's power to remember things: "I've a great memory for faces". |
| Needs | when you have to have 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 |
| Online Banking | when you do your banking like savings online. |
| Payee | a person who gets payed |
| Payer | a person who pays somebody |
| Reconcile | to bring into agreement or harmony; make compatible or consistent: to reconcile differing statements; to reconcile accounts. 1.Restore friendly relations between: "she wanted to be reconciled with her father". |
| Savings | the extra money you save |
| Variable Expenses | Variable costs are expenses that change in proportion to the activity of a business.Garrison, Noreen, Brewer. |
| Wants | when you want something |
| Withdrawal | when you take money out of your accont |
Created by:
qsmith
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