Budget and Banking
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| ATM | An electronic telecommunications device that enables the customers of a financial institution to perform financial transactions, particularly cash withdrawal, without the need for a human cashier, clerk or bank teller
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| Account Balance | The total amount of money owed to a third party such as a credit card company, utility company, mortgage banker or other type of lender or creditor. The account balance will always be the net amount after factoring in all debits and credits.
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| Bank Reconciliation | A bank reconciliation is a process performed by a company to ensure that the company's records (check register, general ledger account, balance sheet, etc.) are correct and that the bank's records are also correct.
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| Budget | A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows
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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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| Cleared Check | Cheque clearing (or check clearing in American English) is the process of moving a cheque from the bank in which it was deposited to the bank on which it was drawn, and the movement of the money in the opposite direction.
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| Credit Union | a cooperative group that makes loans to its members at low rates of interest.
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| Debit Card | a plastic card that resembles a credit card but functions like a check and through which payments for purchases or services are made electronically to the bank accounts of participating retailing establishments directly from those of card holders.
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| Deposit | money placed in a bank account or an instance of placing money in a bank account.
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| Direct deposit | a plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients.
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| Endorse | sign (a check or bill of exchange) on the back to make it payable to someone other than the stated payee or to accept responsibility for paying it.
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| Expense | the cost required for something; the money spent on something.
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| FDIC | The Federal Deposit Insurance Corporation is a United States government corporation, it provides deposit insurance guaranteeing the safety of a depositor's accounts in member banks up to $250,000 for each deposit ownership category in each insured bank.
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| Fees | A fee is the price one pays as remuneration for rights or services. Fees usually allow for overhead, wages, costs, and markup.
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| Financial Literacy | Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others.
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| Fixed Expense | Fixed expenses or costs are those that do not fluctuate with changes in production level or sales volume.
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| Income | money received, especially on a regular basis, for work or through investments.
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| Intrest | money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
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| Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit) against which a current (checking) account customer can write checks or make withdrawals.
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| Memo | Memo is short for memorandum, a document or other communication
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| Needs | cannot avoid or help doing something.
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| Non-Sufficient 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 because insufficient funds are available in the account on which the instrument was drawn.
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| Online Banking | Online banking is an electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution, such as a retail bank, virtual bank, credit union or building society.
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| Payee | a person to whom money is paid or is to be paid, especially the person to whom a check is made payable.
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| Payer | a person, organization, etc., that pays or is responsible for paying something
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| Savings | Saving is income not spent, or deferred consumption.
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| Variable Expense | Variable costs are those costs that vary depending on a company's production volume; they rise as production increases and fall as production decreases.
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| Wants | to desire or wish for
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| Withdrawl | an act of taking money out of an account.
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