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Budget and Banking
| Account | 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 | a plan specifying how resources, especially time or money, will be allocated or spent during a particular period |
| Checking Account | bank account: a bank account that enables you to make withdrawals or payments to other people using checks. |
| Cleared Check | The movement of a check from the depository institution |
| Credit Union | cooperative lending association: a cooperative savings association that makes loans to its members at reduced interest rates |
| Debit Card | card used for shopping without cash: a plastic card that the holder can use to pay for purchases, the money being transferred directly from the holder's bank account to the seller |
| Deposit | put money in bank: to pay money into an account in a bank or other financial institution |
| Direct Deposit | transfer of money between accounts: a method of transferring a payment such as a salary electronically directly from the payer's bank account into the payee's |
| Endorse | to give formal approval or permission for something |
| Expense | money spent on something: the amount of money spent in order to buy or do something |
| FDIC | U.S. agency insuring bank deposits: the federally chartered organization that insures deposits in U.S. banks. |
| Fees | payment for services: a payment for professional services |
| Financial Literacy | The possession of knowledge and understanding of financial matters. |
| Financial Security | Good at holding money |
| Fixed Expense | a cost unvarying with a change in the volume of business |
| Income | money received over period: the amount of money received over a period of time either as payment for work, goods, or services, or as profit on capital |
| Interest | a charge made for a loan or credit facility, or a payment made by a bank or other financial institution for the use of money deposited in an account |
| Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount |
| Memo | a written communication similar to a letter but without the formal address blocks at the beginning, especially one that is circulated to people within an office or organization |
| Needs | emphasizing necessity |
| Non-sufficient fund | Not having enough money in your account |
| Online Banking | A system allowing individuals to perform banking activities at home, via the internet |
| Payee | person being paid |
| Payer | person paying money |
| Reconcile | to bring into agreement or harmony; make compatible or consistent: to reconcile differing statements; to reconcile accounts |
| Savings | amount saved: a particular amount of money saved by buying the equivalent at a lower rate |
| Variable Expense | cost determined by output: a cost that varies directly in relation to output |
| Wants | desire something |
| Withdrawls | taking money from bank |
| ATM | Automated Teller Machine |
Created by:
kkirkland
Popular Finance sets