Budget/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 | An electronic banking outlet, which allows customers to complete basic transactions without the aid of a branch representative or teller.
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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 estimation of the revenue and expenses over a specified future period of time.
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| checking account | A transactional deposit account held at a financial institution that allows for withdrawals and deposits.
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| cleared check | a check that has been verified with the issuer's bank and is approved for payment.
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| credit unon | Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners.
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| debit card | An electronic card issued by a bank which allows bank clients access to their account to withdraw or pay for goods and services.
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| deposit | A transaction involving a transfer of funds to another party for safekeeping.
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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 | Declare one's public approval or support of.
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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 | 1.A payment made for professional advice or services.
2.Money paid as part of a special transaction, e.g., for a privilege or for admission to something.
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| financial literacy | The possession of knowledge and understanding of financial matters.
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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 | The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.
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| loan overdraft | An extension of credit from a lending institution when an account reaches zero.
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| memo | A written message, esp. in business; a memorandum.
A written message, esp. in business; a memorandum
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| needs | A method of calculating how much life insurance is required by an individual/family to cover their needs
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| non-sugfficiant funds (NSF) | Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a demand for payment (a check) cannot be honored
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| online banking | Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail
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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 | 1.An economy of or reduction in money, time, or another resource.
2.The money one has saved, esp. through a bank or official scheme.
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| variable expenses | Variable costs are expenses that change in proportion to the activity of a business.
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| wants | Have a desire to possess or do (something); wish for.
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| withdraw | 1.Remove or take away (something) from a particular place or position: "Ruth withdrew her hand from his".
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Created by:
haysmith
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