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 a financial repository, such as a checking account, at any given moment.
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| 3. Budget | n 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, business
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| 4. Checking Account | 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
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| Credit Union | A non-profit financial institution that is owned and operated entirely by its members. Credit unions provide financial services for their
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| 7. Debit Card | is a plastic card that provides ... In many countries, the use of debit cards has become so widespread that ...
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| 8. Deposit | place for safekeeping or in trust, especially in a bank account: He deposited his paycheck every Friday. 2. to give as security or in part payment.
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| 9. Direct Deposit | deposit terminology, the term Direct Deposit refers to the deposit of money made into a bank account directly from an employer to an employee.
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| 10. Endorse | as to give your approval to someone or something or to authorize the payment of a document by signing with one's signature
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| 11. Expense | The economic costs that a business incurs through its operations to earn revenue. In order to maximize profits, businesses must attempt to reduce
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| 12. FDIC |
Federal Deposit Insurance Corporation - a federally sponsored corporation that insures accounts in national banks and other qualified institutions. FDIC ...
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| 13. Fees | charge or payment for professional services: a doctor's fee
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| 14. Financial Literacy |
The possession of knowledge and understanding of financial matters. Financial literacy is mainly used in connection with personal finance matters. Financial ...
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| 15. Financial Security | such large amounts of money, ..... I was off for 15 months, but never missed a house payment.
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| 16. Fixed Expense | A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses that have to be paid by
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| 17. Income |
The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from ...
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| 18. Interest | the feeling of a person whose attention, concern, or curiosity is particularly engaged by something: She has a great interest in the poetry of Donne
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| Loan Overdraft |
If you have an overdraft account, your bank will cover checks which would otherwise bounce. As with any loan, you pay interest on the outstanding balance of
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| 20. Memo | a short message sent from one person to another in the same organization.
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| Needs | a requirement, necessary duty, or obligation: There is no need for you to go there. 2. a lack of something wanted or deemed necessary
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| 22. Non-sufficient funds | Reason for dishonoring or returning a check to its depositor, because the amount available in check-writer's
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| 23. Online Banking | A system allowing individuals to perform banking activities at home, via the internet. Some online banks are traditional banks
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| 24. Payee | person to whom a cheque, money order, etc., is made out. 2. (Economics, Accounting & Finance
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| 25. Payer | the person named in a bill or note who has to pay the holder. Relevant
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| 26. Reconcile | An accounting process used to compare two sets of records to ensure the figures are in agreement and are accurate
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| 27. Savings |
According to Keynesian economics, the amount left over when the cost of a person's consumer expenditure is subtracted from the amount ...
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| 28. Variable Expenses |
that varies with production output. Variable costs are those costs that vary depending on a company's production volume; they rise as ...
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| 29. Wants | to wish, need, crave, demand
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| 30. Withdrawal | Removing funds from an account, plan, pension or trust. In some cases, conditions must be met in order to withdraw funds without
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