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Budget and Banking
| Term | Definition |
|---|---|
| ATM | automated-teller machine |
| Account Balance | The amount of money in a financial repository, such as a checking account, at any given moment. |
| Budget | an estimate, often itemized, of expected income and expense for a given period in the future. |
| Checking Account | a bank deposit against which checks can be drawn by the depositor. |
| Cleared Check | Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction. |
| Credit Union | a cooperative group that makes loans to its members at low rates of interest. |
| 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. |
| Deposit | to place for safekeeping or in trust, especially in a bank account |
| Direct Deposit | a plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients. |
| Endorse | to designate oneself as payee of (a check) by signing, usually on the reverse side of the instrument. |
| Expense | cost or charge |
| FDIC | Federal Deposit Insurance Corporation. |
| Fees | a charge or payment for professional services |
| Finacial Literacy | |
| Finacial Security | |
| Fixed Expense | |
| Income | the monetary payment received for goods or services, or from other sources, as rents or investments. |
| Interest | the feeling of a person whose attention, concern, or curiosity is particularly engaged by something. |
| Loan Overdraft | An overdraft allows the individual to continue withdrawing money even if the account has no funds in it |
| Memo | memorandum. |
| Needs | of necessity; necessarily (usually preceded or followed by must ) |
| Non-sufficient funds (NSF) | Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a demand for payment (a cheque) cannot be honored because insufficient funds are available in the account on which the instrument was drawn. |
| Online Banking | |
| Payee | |
| Payer | person who give out pay. |
| Reconcile | to cause (a person) to accept or be resigned to something not desired: |
| Savings | tending or serving to save; rescuing; preserving. |
| Variable Expenses | |
| Wants | to feel a need or a desire for; wish for: |
| Withdrawl | to draw back, away, or aside; take back; remove: |
Created by:
freeted
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