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Stack #4734622

QuestionAnswer
Bank Account A record or statement of financial expenditures or receipts, often related to a bank or credit union.
Balance An amount available or owed on an account.
Budget Deciding how to spend your money before you actually spend it.
Cash The physical form of money, such as coins or paper money.
Checking Account A bank account that allows quick access to money for everyday expenses.
Clearing The time it takes for money to move from one account to another (e.g. from checking to cash, or from one
Copay The amount you pay to a healthcare provider before your insurance takes the claim, usually paid before
Credit Obtaining something you want with the understanding you'll pay for it later.
Debit An amount removed from your bank account to pay for something
Debt The amount you owe on a loan.
Deposit Turning your money over to a financial institution for safekeeping.
Double Entry Accounting A budgeting method where you record your earnings twice: once in your account and once in your
Expense Anything that you spend money on
Income Money earned through work
Interest A percentage charged when you borrow money. Can also be an amount earned for saving money in
Net Pay The amount of money left on your paycheck after taxes have been withheld.
Paystub A document that comes with your paycheck, showing how much you were paid and how much was
Principal The amount of money that you borrow when using a loan or credit card.
Transfer Moving money from one account to another.
Utilities Necessities like electricity, gas, and water, which are paid monthly as part of your household expenses.
Created by: lolmstead32
 

 



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