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.
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| 1. ATM | ATM is "At The Moment" or "Automated Teller Machine (cash machine)"
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| 2. Account Balance | The amount of money in a financial repository, such as a checking account, at any given moment
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| 3. Budget | An estimation of the revenue and expenses over a specified future period of time. A budget can be made for a person, family, group of people
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| 4. Checking Account | A transactional deposit account held at a financial institution that allows for withdrawals and deposits.
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| 5. Cleared Check | Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction
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| 6. Credit Union | Financialcooperative created for and by its members who are its depositors, borrowers, and shareholders. Operated on non-profit basis, credit unions offer many banking
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| 7. Debit Card | A card which allows customers to access their funds immediately, electronically. Unlike a credit card, a debit card does not have any float.
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| 8. Deposit | Money transferred into a customer's account at a financial institution.
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| 9. Direct Deposit | The deposit of funds directly into a bank account as a form of payment. Common uses for direct deposit include paychecks and tax refunds.
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| 10. Endorse | An endorsement consisting of nothing but a signature and allowing any party in possession of the endorsed item to execute a claim.
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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. A federal agency that insures deposits in member banks and thrifts up to $100,000.
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| 13. Fees | A rate which is charged or paid for the use of money. An interest rate is often expressed as an annual percentage of the principal
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| 14. Financial Literacy | Possessing the knowledge necessary to understand concepts related to finance. These ideas may include balancing a checkbook, understandinginterest rates, employee benefits, or how the stock market works.
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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 | Real Estate: Expenses that remain the same regardless of occupancy. Interest expense is typically considered fixed, while electricity costs are considered to be variable because they typically change from month to month.
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| 17. Income | For corporations, revenues minus cost of sales, operating expenses, and taxes, over a given period of time. Income is the reason corporations exist, and are often the single most important determinant of a stock's price.
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| 18. Interest | The state of wanting to know or learn about something or someone: "many people lose interest in history".
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| 19. Loan Overdraft | You spent more or withdrew money (either with checks or with your card) than you had available in the account. You owe them that money. Also, they ...
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| 19. 20. Memo |
A written message, esp. in business; a memorandum.
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| 21.needs | 1.the necessities of life;
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| 22. Non-sufficient funds (NSF) | Reason for dishonoring or returning a check to its depositor
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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 | Particularly in the U.S., the market has tended to be long on stuff in people’s basements and attics that they won’t ever need and short on stuff that can have a broader impact on economic efficiency
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| 30. Withdrawal | A removal of funds from an account
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