Budget and Banking
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| ATM | Automatic Teller Machine
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| Account Balance | amount of money in a financial repository at any given moment
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| Budget | An estimation of the revenue and expenses over a specified future period of time
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| Checking Account | A transactional deposit account held at a financial institution that allows for withdrawals and deposits
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| Cleared Check | the check has cleared
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| Credit Union | provide a secure and convenient place where members can save their money
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| Debit Card | An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services
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| Deposit | A transaction involving a transfer of funds to another party for safekeeping.
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| Direct Deposit | Electronic funds that are deposited directly into your bank account rather than through a paper check.
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| Endorse | acknowledge (receipt of payment) by signing a bill, draft, or other instrument
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| Expense | Money spent or costs incurred that are tax-deductible and reduce taxable income
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| FDIC | a federally sponsored corporation that insures accounts in national banks and other qualified institutions
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| Fees | A fixed sum charged, as by an institution or by law, for a privilege
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| Financial Literacy | allow an individual to make informed and effective decisions through their understanding of finances
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| Financial Security | Something deposited or given as assurance of the fulfillment of an obligation
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| Fixed Expense | An expense that does not change from time period to time period
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| Income | The amount of money or its equivalent received during a period of time in exchange for labor or service
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| Interest | A charge for a loan, usually a percentage of the amount loaned
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| Loan Overdraft | The amount by which withdrawals exceed deposits, or the extension of credit by a lending institution to allow for such a situation
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| Memo | An accounting entry with no debit or credit amounts
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| Needs | a requirement, necessary duty, or obligation
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| Non-sufficient funds | do not have enough money in your checking account to cover the checks you wrote
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| Online Banking | A system allowing individuals to perform banking activities at home, via the internet
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| Payee | One to whom money is paid
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| Payer | One that pays
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| Reconcile | to make two financial accounts or statements agree
Read more: http://www.investorwords.com/10820/reconcile.html#ixzz2NQKcSYSf
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| Savings | An amount of money saved
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| Variable Expenses | cost that changes significantly from period to period, such as week to week, month to month, quarter to quarter or year to year.
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| Wants | Unfulfilled desire.
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| Withdrawl | removal of funds from an account.
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Created by:
ShaniceT
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