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Budget and banking
| Term | Definition |
|---|---|
| ATM | automated-teller machine |
| Account Balance | A balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world |
| 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. |
| Cleared Check | to clear a check |
| Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans, |
| Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase. |
| Deposit | The action of deposing someone, esp. a monarch |
| Direct Deposit | The electronic transfer of a payment directly from the account of the payer to the recipient's account. |
| Endorse | Declare one's public approval or support of. |
| Expense | The cost required for something; the money spent on something. |
| FDIC | Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits |
| Fees | A payment made for professional advice or services |
| Financial Literacy | Financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allow |
| Financial Security | A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities |
| Fixed Expense | Costs of owning and operating a property that are not discretionary and, except for occasional increases, do not change |
| Income | Money received, esp. on a regular basis, for work or through investments. |
| Interest | The state of wanting to know or learn about something or someone: "many people lose interest in history |
| Loan Overdraft | to overdraft a loan |
| Memo | A written message, esp. in business; a memorandum. |
| Needs | Cannot avoid or help doing something: "they must needs depart". |
| 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... |
| Online Banking | Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or... |
| Payee | A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable. |
| Payer | a person who pays money for something. |
| Reconcile | 1.Restore friendly relations between: "she wanted to be reconciled with her father". 2.Cause to coexist in harmony; make or show to be compatible |
| Savings | An economy of or reduction in money, time, or another resource |
| Variable Expenses | Variable costs are expenses that change in proportion to the activity of a business.Garrison, Noreen, Brewer |
| Wants | Have a desire to possess or do (something); wish for. |
| Withdrawal | 1.The action of withdrawing something. 2.An act of taking money out of an account. |
Created by:
Jsullivan14
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