Buget 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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| 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. also called balance
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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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| ATM | automated Teller Machine add this to your definition so you know what it stands for
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| Cleared Check | Movement of a check from the bank in which it was deposited to the bank on which it was drawn
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| Credit Union | A nonprofit financial cooperative offering deposit accounts
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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 | A 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
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| Expense | The cost required for something; the money spent on something
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| FDIC | Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits
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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 | A security is a fungible, negotiable instrument representing financial value
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| Fixed Expense | Costs of owning and operating a property that are not discretionary
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| Income | Money received, esp. on a regular basis, for work or through investments
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| Interest | money earned based on your investments and savings
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| Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit)
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| Memo | A written message, esp. in business; a memorandum
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| Needs | necessarily - perforce
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| Non-sufficient funds (NSF) | not having enough money in your checking account to cover the checks that you wrote
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| Online Banking | allows customers to conduct financial transactions on a secure website
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| Payee | A person to whom money is paid or is to be paid
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| Payer | a person who pays money for something
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| Reconcile | to bring into agreement or harmony; make compatible or consistent: to reconcile differing statements; to reconcile accounts
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| Savings | The money one has saved, esp. through a bank or official scheme
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| Variable Expenses | expenses that change in proportion to the activity of a business.
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| Wants | Have a desire to possess or do something
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| Withdrawal | An act of taking money out of an account
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Created by:
hoperyan
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