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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 time |
| 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. |
| Deposited | A sum of money placed or kept in a bank account, usually to gain interest |
| Endorse | To sign a check so it can be cashed |
| Expense | The cost required for something; the money spent on something 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 | the ability to understand finance |
| Financial Security | A security is a fungible, negotiable instrument representing financial value |
| Fixed Expense | Any expense that does not change from period to period |
| Income | Money received |
| Interest | The state of wanting to know or learn about something or someone |
| Loan Overdraft | An extension of credit from a lending institution when an account reaches zero. |
| Memo | A written message, esp. in business; a memorandum. |
| Needs | Requirements that a private or public organization must follow |
| Non-sufficient funds | 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 |
| 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 | Analysis and adjustment of differences between the cash balance shown on a bank statement, and the amount shown in the account holder's records |
| Savings | The money one has saved, esp. through a bank or official scheme. |
| Variable Expenses | (Variable expense) Variable costs are expenses that change in proportion to the activity of a business |
| Wants | The human motives that induce the business and economic activities which produce the desired goods and services, or the means to acquire them. |
| Withdrawal | An act of taking money out of an account |
Created by:
dmckay
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