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Budget and Banking
| Term | Definition |
|---|---|
| ATM | automated-teller machine |
| Account Balance | A balance of payments |
| 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 | 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 nonprofit financial cooperative offering deposit accounts, low-interest loans, etc. |
| Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase. |
| Deposit | A sum of money placed or kept in a bank account, usually to gain interest. |
| Direct Deposit | The electronic transfer of a payment directly from the account of the payer to the recipient's account. |
| Endorse | 2.Recommend (a product) in an advertisement |
| 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 | 1.A payment made for professional advice or services. |
| Financial Literacy | Financial literacy is the ability to understand finance. |
| Financial Security | A security is a fungible, negotiable instrument representing financial value. |
| 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 | |
| Memo | A written message, esp. in business; a memorandum |
| Needs | Cannot avoid or help doing something. |
| Non-sufficient funds | 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 | 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 | Restore friendly relations between. |
| 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. |
| Wants | Have a desire to possess or do (something); wish for. |
| Withdrawal | The action of withdrawing something. |
Created by:
toverton
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