Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

Normal Size Small Size show me how

Budget and Banking

Term	Definition
ATM	for automated teller machine, a machine at a bank branch or other location which enables a customer to perform basic banking activities
Account Balance	amount of money in an account, equal to the net of credits and debits at that point in time for that account.
Budget	An itemized forecast of an individual's or company's income and expenses expected for some period in the future.
Checking Account	A transactional deposit account held at a financial institution that allows for withdrawals and deposits.
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	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 or pay for goods and services.
Deposit	A transaction involving a transfer of funds to another party for safekeeping.
Direct Desposit	Electronic funds that are deposited directly into your bank account rather than through a paper check.
Endorse	To sign a legal document, such as a check. See also endorsement and endorser.
Expense	The economic costs that a business incurs through its operations to earn revenue.
FDIC	Federal Deposit Insurance Corporation. A federal agency that insures deposits in member banks and thrifts up to $100,000.
Fees	Pay money for what you want.
Finacial Literacy	Possessing the knowledge necessary to understand concepts related to finance.
Financial Security	Making sure that your money is safe.
Fixed Expense	Expenses that remain the same regardless of occupancy.
Income	The money that you make.
Interest	The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.
Loan Overdraft	The amount by which withdrawals exceed deposits, or the extension of credit by a lending institution to allow for such a situation.
Memo	A written message, esp. in buisness.
Needs	Cannot avoid or help doing something.
Non-sufficient funds (NSF)	is a term used in the banking industry to indicate that a demand for payment (a check)
Online Banking	allows customers to conduct financial transactions on a secure website operated by their retail.
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	to bring into agreement or harmony; make compatible or consistent: to reconcile differing statements; to reconcile accounts.
Savings	putting money into an account for future use
Variable Expenses	costs are expenses that change in proportion to the activity of a business.
Wants	Have a desire to possess or do (something); wish for. Have a desire to possess or do (something); wish for.
Withdrawal	The action of withdrawing something.

Created by: Ktowner1215

Popular Finance sets

Economic Activites

Goals and Decisions

Basic of Taxes

Consumer rights and responsibilities

Career Choices

Lifestyles and Stages of Life

shopping options and practices

Savings And Investing

Researching Job/Career Options

Protecting Your Financial Security

Transportation Options

Consumer Information

"Know" box contains:
Time elapsed:
Retries: