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Buget And Banking
| term | definition |
|---|---|
| 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 |
| ATM | automated Teller Machine add this to your definition so you know what it stands for |
| 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 |
| 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 | The cost required for something; the money spent on something |
| FDIC | Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits |
| Fees | A payment made for professional advice or services |
| Financial Literacy | Financial literacy is the ability to understand finance |
| Financial Security | A security is a fungible, negotiable instrument representing financial value |
| Fixed Expense | Costs of owning and operating a property that are not discretionary |
| Income | Money received, esp. on a regular basis, for work or through investments |
| Interest | money earned based on your investments and savings |
| Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit) |
| Memo | A written message, esp. in business; a memorandum |
| Needs | necessarily - perforce |
| Non-sufficient funds (NSF) | not having enough money in your checking account to cover the checks that you wrote |
| Online Banking | allows customers to conduct financial transactions on a secure website |
| Payee | A person to whom money is paid or is to be paid |
| Payer | a person who pays money for something |
| Reconcile | to bring into agreement or harmony; make compatible or consistent: to reconcile differing statements; to reconcile accounts |
| Savings | The money one has saved, esp. through a bank or official scheme |
| Variable Expenses | expenses that change in proportion to the activity of a business. |
| Wants | Have a desire to possess or do something |
| Withdrawal | An act of taking money out of an account |
Created by:
hoperyan
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