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budget and banking

TermDefinition
1. ATM automated teller machine
2. Account Balance The amount of money in a financial repository, such as a checking account, at any given moment.
3. Budget n estimation of the revenue and expenses over a specified future period of time. A budget can be made for a person, family, group of people, business
4. Checking Account transactional deposit account held at a financial institution that allows for withdrawals and deposits
5. Cleared Check Movement of a check from the bank in which it was deposited to the bank on which it was drawn
Credit Union A non-profit financial institution that is owned and operated entirely by its members. Credit unions provide financial services for their
7. Debit Card is a plastic card that provides ... In many countries, the use of debit cards has become so widespread that ...
8. Deposit place for safekeeping or in trust, especially in a bank account: He deposited his paycheck every Friday. 2. to give as security or in part payment.
9. Direct Deposit deposit terminology, the term Direct Deposit refers to the deposit of money made into a bank account directly from an employer to an employee.
10. Endorse as to give your approval to someone or something or to authorize the payment of a document by signing with one's signature
11. Expense The economic costs that a business incurs through its operations to earn revenue. In order to maximize profits, businesses must attempt to reduce
12. FDIC Federal Deposit Insurance Corporation - a federally sponsored corporation that insures accounts in national banks and other qualified institutions. FDIC ...
13. Fees charge or payment for professional services: a doctor's fee
14. Financial Literacy The possession of knowledge and understanding of financial matters. Financial literacy is mainly used in connection with personal finance matters. Financial ...
15. Financial Security such large amounts of money, ..... I was off for 15 months, but never missed a house payment.
16. Fixed Expense A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses that have to be paid by
17. Income The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from ...
18. Interest the feeling of a person whose attention, concern, or curiosity is particularly engaged by something: She has a great interest in the poetry of Donne
Loan Overdraft If you have an overdraft account, your bank will cover checks which would otherwise bounce. As with any loan, you pay interest on the outstanding balance of
20. Memo a short message sent from one person to another in the same organization.
Needs a requirement, necessary duty, or obligation: There is no need for you to go there. 2. a lack of something wanted or deemed necessary
22. Non-sufficient funds Reason for dishonoring or returning a check to its depositor, because the amount available in check-writer's
23. Online Banking A system allowing individuals to perform banking activities at home, via the internet. Some online banks are traditional banks
24. Payee person to whom a cheque, money order, etc., is made out. 2. (Economics, Accounting & Finance
25. Payer the person named in a bill or note who has to pay the holder. Relevant
26. Reconcile An accounting process used to compare two sets of records to ensure the figures are in agreement and are accurate
27. Savings According to Keynesian economics, the amount left over when the cost of a person's consumer expenditure is subtracted from the amount ...
28. Variable Expenses that varies with production output. Variable costs are those costs that vary depending on a company's production volume; they rise as ...
29. Wants to wish, need, crave, demand
30. Withdrawal Removing funds from an account, plan, pension or trust. In some cases, conditions must be met in order to withdraw funds without
Created by: cgoodwin
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