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 | automated-teller machine
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| Account Balance | The amount of money in a financial repository, such as a checking account, at any given moment.
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| Budget | An estimate of income and expenditure for a set period of time.
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| Checking Account | An account at a bank against which checks can be drawn by the account depositor.
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| Cleared Check | It means the check was cashed or deposited
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| Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans
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| Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
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| Deposit | sum of money placed or kept in a bank account, usually to gain interest.
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| Direct Deposit | The electronic transfer of a payment directly from the account of the payer to the recipient's account.
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| Endorse | to write on the back of; especially: to sign one's name as payee on the back of (a check) in order to obtain the cash or credit represented on the face
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| Expense | The cost required for something; the money spent on something.
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| FDIC | Federal Deposit Insurance Corporation
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| Fees | A payment made for professional advice or services.
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| Financial Literacy | Financial literacy is the ability to understand finance
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| Financial Security | having money set aside for future use, living within a budget
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| Fixed Expense | a payment that stays the same amount each month
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| Income | Money received, esp. on a regular basis, for work or through investments.
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| Interest | a fee paid to someone for borrowing money
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| Loan Overdraft | your bank will cover checks which would otherwise bounce.
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| Memo | A written message, esp. in business; a memorandum
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| Needs | Cannot avoid or help doing something: "they must needs depart".
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| Non-sufficient funds (NSF) | A term used to indicate when an item such as a check, or other transaction presented for payment is returned unpaid because the available balance in your deposit account is less than the amount of the item.
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| Online Banking | A system allowing individuals to perform banking activities at home, via the internet.
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| Payee | A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.
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| Payer | a person who pays money for something.
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| Reconcile | accounting process used to compare two sets of records to ensure the figures are in agreement and are accurate
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| Savings | to put money aside for a reason
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| Variable Expenses | Variable costs are expenses that change in proportion to the activity of a business.Garrison,
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| Wants | A lack or deficiency of something
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| Withdrawal | 2.An act of taking money out of an account.
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Created by:
Jakyle Foster
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