Term | Definition |
Atm | Automated teller Machine. |
Account Balance | A balance of payments(BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world. |
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. |
Cleared Check | |
Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans, etc. |
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 | Declare one's public approval or support of. |
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. More specifically, it refers to the set of skills and knowledge that allow an. |
Financial Security | A security is a fungible, negotiable intrument representing financial value. |
Fixed Expense | Costs of owning and operating a property that are not discretionary and, execpt for occasional increases. |
Income | money received, esp. on a regular basis, for work or through investments. |
Interest | The state of wanting to know or learn about something or someone. |
Loan Overdraft | An extension of credit from a lending institution when an account reaches zero. |
Memo | A written message, esp. in business. |
Needs | Cannot avoid or help doing something. |
Non-sufficient funds(NSF) | An acronym used in the banking industry to signify that there are "non-sufficient funds" in an account in order to honor a check drawn on that account. |
Online Banking | The performance of banking activities via the Internet. |
Payee | A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable. |
Payer | A person who pays money for something. |
Reconcile | Cause to coexist in harmony: make or show to be compatible. |
Savings | An economy of or reduction in money, time, or another resource. |
Variable Expenses | An element, feature, or factore that is liable to vary or change. |
Wants | Have a desire to possess or do something. |
Withdrawal | An act of taking money out of an account. |