Budget and Banking Word Scramble
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Term | Definition |
ATM | A machine that dispenses cash or performs other banking services when an account holder inserts a bank card. |
Account Balance | The amount of money in a financial repository, such as a checking account, at any given moment. |
Bank Reconciliation | Explains the difference on a specified date between the bank balance shown in an organization's bank statement |
Budget | An estimate of income and expenditure for a set period of time. |
Checking Account | An account at a bank against which checks can be drawn by the account depositor |
Check Register | A document, usually part of the general ledger, used to record financial transactions in cash. |
Cleared Check | The movement of a check from the depository institution at which it was deposited back to the institution on which it was written; the movement of funds in the opposite direction and the corresponding credit and debit to the involved accounts. |
Credit Union | A nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates. |
Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase. |
Deposit | A sum of money placed or kept in a bank account, usually to gain interest |
Direct Deposit | The electronic transfer of a payment directly from the account of the payer to the recipient's account |
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 |
Expense | The cost required for something; the money spent on something |
FDIC | U.S. corporation insuring deposits in the United States against bank failure |
Fees | A payment made to a professional person or to a professional or public body in exchange for advice or services |
Financial Literacy | The ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being |
Financial Security | You have enough money saved to cover emergencies and your future financial goals |
Fixed Expense | An expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity |
Income | Money received, especially on a regular basis, for work or through investments |
Interest | Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt |
Loan Overdraft | An extension of credit from a lending institution when an account reaches zero. ... Basically, overdraft means that the bank allows customers to borrow a set amount of money. |
Memo | A written message, especially in business |
Needs | Cannot avoid or help doing something |
Non-sufficient funds (NSF) | The status of a checking account that does not have enough money to cover transactions |
Online Banking | A method of banking in which transactions are conducted electronically via the Internet |
Payee | A person to whom money is paid or is to be paid, especially the person to whom a check is made payable |
Payer | A person or organization that gives someone money that is due for work done, goods received, or a debt incurred |
Reconcile | To make (one account) consistent with another, especially by allowing for transactions begun but not yet completed |
Savings | The money one has saved, especially through a bank or official scheme |
Variable Expenses | Expenses that can change depending on your use of products or services; they are somewhat unpredictable |
Wants | Lack or be short of something desirable or essential |
Withdrawal | An act of taking money out of an account |
Created by:
tleroyparker18
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