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Vocabulary Banzai
| Question | Answer |
|---|---|
| Account | Arrangement with a bank or credit union you deposit and withdraw money. |
| Account Statement | List of financial transactions you made over a given period |
| ATM | Used to withdraw cash from a checking account |
| Bad Check | Check written for more money than is available in your account |
| Budget | Plan used the amount of money used to spend, and how it will be spent |
| Check | AN order to pay another person an amount of money from your account |
| Check Register | Record of all deposits to and withdrawals from a checking account |
| Checking Account | Account where money can be with drawn with checks or a debit card |
| Cleared Check | When money has transferred from the account of the payer to the payee |
| Convenience Fee | Charged when using an ATM not owned by your bank or credit union |
| Credit Card | Allows you to make purchases and pay for them at a later date |
| Debit Card | Used to make purchases with funds directly from a checking account |
| Deposit | Money placed into an account |
| Direct Deposit | Paycheck that is electronically transferred into your account |
| Gross Pay | The total amount of a paycheck before taxes |
| Jar | Money set aside for a specific purpose (like a budget item) |
| Health Insurance | Insurance that covers medical illness or injury |
| Insurance | A product offered by a company promising to protect you from specific financial risks |
| Interest Rate | The percentage cost of borrowing for someone else |
| Loan | Money lent to someone else in exchange for future payment |
| Net Pay | The amount of a paycheck after taxes are subtracted from Gross Pay |
| Overdraft | Credit extended from a financial institution when an account has insufficient funds |
| Reconciliation | A way to balance your account records with your bank or credit union |
| Renters Insurance | Covers your personal property in a rented apartment or home |
| Savings Account | Account for storing or saving money with limited withdrawals |
| Transfer | When money is moved from one account to another |
| Utilities | A term used to reference electric, water, gas, and other services |
| Overdraft Fee | A fee charged to your account when you spend more money than you have |
Created by:
22cole.mallory
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