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Budget and Banking
| Term | Definition |
|---|---|
| Account Balance | A balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world.... |
| 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 that has been cashed or deposited by a bank |
| 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 | putting money into an account (savings or checking) 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 | Something spent to attain a goal or accomplish a purpose |
| FDIC | Federal Deposit Insurance Corporation |
| Fees | A fixed sum charged, as by an institution or by law, for a privilege |
| Financial Literacy | it refers to the set of skills and knowledge that allow an individual to make informed and effective decisions through their understanding of finances.[ |
| Financial Security | Making sure your money is safe |
| 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 earned based on your investments |
| Loan Overdraft | If you have an overdraft account, your bank will cover checks which would otherwise bounce. As with any loan, you pay interest on the outstanding balance of an |
| Memo | A written message, esp. in business; a memorandum. |
| Needs | Cannot avoid or help doing something |
| 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 | 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 | to bring into agreementor harmony;make compatibleor consistent: to reconcile differing statements; to reconcile accounts. |
| Savings | money put aside for future use |
| Variable Expenses | A cost to a person or business that varies over time according to a number of factors. For example, a dental office must buy dental supplies, which usually cost ... |
| Wants | Have a desire to possess or do (something); wish for. |
| Withdrawal | An act of taking money out of an account. |
| ATM | Automated Teller Machine |
Created by:
Raychet
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