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Budget And Banking

TermDefinition
ATM Automated Teller Machine
Account Balance The amount of money in a financial repository, such as a checking account, at any given moment
Budget A budget can be made for a person, family, group of people, business, government, country, multinational organization or just about anything else that makes
Checking Account A transactional deposit account held at a financial institution that allows for withdrawals and deposits.
Cleared Check A check that has cleared the depositor's account and has been marked as "canceled" by the bank.
Credit Union Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners.
Debit Card An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services.
Deposit A transaction involving a transfer of funds to another party for safekeeping.
Direct Deposit Electronic funds that are deposited directly into your bank account rather than through a paper check.
Endorse model thought to be used by the Federal Reserve that hypothesizes a relationship between long-term Treasury notes and the market return of equities. Many security analysts use this model in valuing equities
Expense The economic costs that a business incurs through its operations to earn revenue.
FDIC The FDIC was created in 1933 to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices.
Fees payment made for professional advice or services
Financial Literacy The possession of knowledge and understanding of financial matters. Financial literacy is mainly used in connection with personal finance matters
Financial Security An account that is used to set aside funds to be used in an emergency, such as the loss of a job, an illness or a major expense.
16. Fixed Expense An interest rate on a liability, such as a loan or mortgage, that remains fixed either for the entire term of the loan or for part of this term
17. Income Economic wealth that is generated in exchange for an individual's performance of agreed upon activities or through investing capital.
18. Interest The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.
19. Loan Overdraft An extension of credit from a lending institution when an account reaches zero.
20. Memo a note
21. Needs something u do
22. Non-sufficient funds (NSF)
23. Online Banking to have money availbe on line
24. Payee a benetiful person
25. Payer to provid money
26. Reconcile Restore friendly relations between: "she wanted to be reconciled with her father.
27. Savings to take care money
28. Variable Expenses A corporate expense that varies with production output
29. Wants to have something to d3esire
30. Withdrawal to take money out
Created by: dallen05
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