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budget and banking
| Question | Answer |
|---|---|
| ATM | a machine that dispenses cash or performs other banking services when an account holder inserts a bank card. |
| Account balance | the amount of money present in your financial repository, savings or checking account |
| Bank Reconciliation | process that explains the difference on a specified date between the bank balance shown in an organizations bank statment |
| 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 depositer |
| Check Register | record of transactions in a checking account. keeps track of how much money you have in your checking account. |
| Credit Union | a non profit making money cooperative whose members can borrow from pooled deposits at low interest rates |
| 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 |
| Direct Deposit | the electronic transfer of a payment directly from the account of the payer |
| Endorse | declare ones public approval on the back of a check to make it payable |
| Expense | the cost required for something, the money spent on something |
| FDIC | federal deposit insurance corporation |
| Fees | |
| Financial Literacy | |
| Financial Security | peace of mind and you feel when you aren't worried about your income being enough to cover expenses |
| Fixed Expense | an expense whose total amount does not change when there is an increase in an activity such as sales or production |
| Income | the amount of money you make for yourself working |
| Interest | |
| Loan Overdraft | |
| Memo | |
| Needs | |
| Non-sufficient funds | |
| Online Banking | |
| Payee | |
| Payer | |
| Reconcile | |
| Savings | |
| Variable Expenses | |
| Wants | |
| Withdrawl |
Created by:
zgeiogamah20
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