click below
click below
Normal Size Small Size show me how
Budget and Banking
| Question | Answer |
|---|---|
| ATM | A specialized computer that makes it convenient to manage a bank account holder’s funds. |
| Account balance | The amount of money present in a financial repository, such as a savings or checking account, at any given moment. |
| 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 |
| Check register | A document usually part of the general ledger used to record financial transactions in cash |
| Cleared check | A process whereby funds move from one account to another to settle a check payment. |
| Credit union | A nonprofit-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, usually to gain interest. |
| Direct deposit | The electronic transfer of a payment directly from the account of the payer to the recipients account. |
| Endorse | To sign (a check or bill of exchange) on the back to make it payable to someone other than the stated payee or to accept responsibility for paying it. |
| Expense | |
| FDIC | |
| Fees | |
| Financial literacy | |
| Financial security | |
| Fixed expense | |
| Income | |
| Interest | |
| Loan overdraft | |
| Memo | |
| Needs | |
| Non-sufficient funds (NSF) | |
| Online banking | |
| Payee | |
| Payer | |
| Reconcile | |
| Savings | |
| Variable expenses | |
| Wants | |
| Withdrawal | |
| Bank reconciliation |