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budget and banking
| Term | Definition |
|---|---|
| ATM | computerized electronic machine that performs basic banking functions (as handling check deposits or issuing cash withdrawals) |
| Account Balance | The amount of money in a financial repository, such as a checking account, at any given moment. |
| 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 |
| Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans, etc. |
| Debit Card | 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 | 1.Declare one's public approval or support of 1.Declare one's public approval or support of 1.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 | 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, |
| Income | Tax levied directly on personal income. |
| Interest | The fee charged by a lender to a borrower for the use of borrowed money, |
| Loan Overdraft | arrangement under which a bank extends credit up to a maximum amoun |
| Memo | A written message, esp. in business; a memorandum |
| Needs | Cannot avoid or help doing something |
| Non-sufficient funds (NSF) | A term used to indicate when an item such as a check |
| Online 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 | process used to compare two sets of records to ensure the figures are in agreement and are accurate |
| Savings | 1.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 |
| Withdrawal | 2.An act of taking money out of an account. |
Created by:
bignigga
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