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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| 1. ATM | automated teller machine
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| 2. Account Balance | The amount of money in an account, equal to the net of credits and debits at that point in time for that account.
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| 3. Budget | An itemized forecast of an individual's or company's income and expenses expected for some period in the future.
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| 4. Checking Account | An account which allows the holder to write checks against deposited funds.
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| 5. Cleared Check | A commercial bank that is part of a network of banks that can clear checks for its clients regardless of whether or not the check originates from the same commercial bank.
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| 6. Credit Union | A non-profit financial institution that is owned and operated entirely by its members. Credit unions provide financial services for their members, including savings and lending.
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| 7. Debit Card | A card which allows customers to access their funds immediately, electronically.
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| 8. Deposit | Money given in advance to show intention to complete the purchase of a property.
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| 9. Direct Deposit | The deposit of funds directly into a bank account as a form of payment.
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| 10. Endorse | A signature used to legally transfer a negotiable instrument.
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| 11. Expense | Any cost of doing business resulting from revenue-generating activities.
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| 12. FDIC | Federal Deposit Insurance Corporation.
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| 13. Fees | A fee charged by a broker or agent for his/her service in facilitating a transaction, such as the buying or selling of securities or real estate.
Read more: http://www.investorwords.com/4367/sales_fee.html#ixzz2NQpUgvLJ
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| 14. Financial Literacy | Possessing the knowledge necessary to understand concepts related to finance.
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| 15. Financial Security | An investment instrument, other than an insurance policy or fixed annuity, issued by a corporation, government, or other organization which offers evidence of debt or equity.
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| 16. Fixed Expense | A deposit held by a bank or other financial institution or a fixed amount of time agreed upon between the bank and the depositor.
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| 17. Income | For corporations, revenues minus cost of sales, operating expenses, and taxes, over a given period of time.
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| 18. Interest | The fee charged by a lender to a borrower for the use of borrowed money, usually expressed as an annual percentage of the principal
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| 19. 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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| 20. Memo | A written message, esp. in business
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| 21. Needs | Technique used to determine how much life insurance is required, by considering the future needs of the policy's beneficiaries.
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| 22. 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.
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| 23. Online Banking | A system allowing individuals to perform banking activities at home, via the internet.
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| 24. Payee | One who receives a payment, such as through cash, check, money order, or promissory note.
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| 25. Payer | One who makes a payment.
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| 26. Reconcile | to make two financial accounts or statements agree.
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| 27. Savings | The part of a person's income that is not spent.
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| 28. Variable Expenses | An unavoidable periodic cost that does not have a constant value, such as an electric bill.
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| 29. Wants | to feel a need or a desire for.
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| 30. Withdrawal | A removal of funds from an account.
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