Next Generation Personal Finance Vocab
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| Balance | The amount of money that you have in your bank account
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| Cancelled check | Checks the bank has paid. They will appear on your bank statement.
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| Check | A written order to the bank that tells it to take a stated amount of money from your account and pay it to another.
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| Checkbook | A handy portfolio that holds your check register, checks, deposit slips, receipts, and other ATM/debit card transactions.
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| Check register | A record that allows you to keep track of checks you have written, ATM/debit card transactions, as well as deposits and withdrawals.
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| Credit | A sum of money deposited INTO an account. You can use a credit to charge merchandise or borrow money.
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| Debit | A sum of money deducted from your account.
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| Debit card | A plastic card that enables you to do ATM transactions and to make purchases instead of using cash or writing a check.
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| Deposit | Money you put into your account.
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| Deposit slip | A form you fill out to credit money to your account when you make a deposit.
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| Direct deposit | Your employer automatically deposits your paycheck into your account.
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| Endorse | To sign the back of a check made out to you so it can be cashed or deposited.
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| Interest | A fee paid to you for keeping your money in the account or a fee charged to you for a loan or credit card.
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| Overdraw | To write a check or make a withdrawal when there isn't enough money in the account to pay for it.
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| Post-date | To write a future date on a check.
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| Reconcile | To "balance" your checking account with your monthly statement from the bank.
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| ATM | Automatic Teller Machine. Allows a customer to get out physical currency from their account
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| Voided check | A check with "VOID" written across it that make it non-negotiable.
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| Statement | The monthly record of your account transactions sent to you by your bank.
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| Pin | Personal Identification Number needed to use an ATM card.
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| Signature card | A card used when opening a new account that includes name, address, birth date, etc.
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| Payee | The person to whom the check is made payable.
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| Outstanding check | A check that has been written but not yet deducted from the person's bank account.
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| Outstanding deposit | A deposit that has been made but not yet added to the person's bank account.
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| Credit card | A card that allows the holder to make purchases without cash by borrowing money
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| Prepaid card | A card that is loaded with a specific cash amount before you use it but then looks and works like a credit card until the full value is spent.
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| Person to person payment (P2P) | An online process that allows you to send money directly from your checking account to a friend via email or cell phone.
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| Check cashing store | A business that cashes checks, giving the customer cash in exchange for a fee for the service.
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| Bank statement | the bank's accounting of your transactions
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
Audrey C.