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Vocabulary Banzai
Question | Answer |
---|---|
Account | Arrangement with a bank or credit union you deposit and withdraw money. |
Account Statement | List of financial transactions you made over a given period |
ATM | Used to withdraw cash from a checking account |
Bad Check | Check written for more money than is available in your account |
Budget | Plan used the amount of money used to spend, and how it will be spent |
Check | AN order to pay another person an amount of money from your account |
Check Register | Record of all deposits to and withdrawals from a checking account |
Checking Account | Account where money can be with drawn with checks or a debit card |
Cleared Check | When money has transferred from the account of the payer to the payee |
Convenience Fee | Charged when using an ATM not owned by your bank or credit union |
Credit Card | Allows you to make purchases and pay for them at a later date |
Debit Card | Used to make purchases with funds directly from a checking account |
Deposit | Money placed into an account |
Direct Deposit | Paycheck that is electronically transferred into your account |
Gross Pay | The total amount of a paycheck before taxes |
Jar | Money set aside for a specific purpose (like a budget item) |
Health Insurance | Insurance that covers medical illness or injury |
Insurance | A product offered by a company promising to protect you from specific financial risks |
Interest Rate | The percentage cost of borrowing for someone else |
Loan | Money lent to someone else in exchange for future payment |
Net Pay | The amount of a paycheck after taxes are subtracted from Gross Pay |
Overdraft | Credit extended from a financial institution when an account has insufficient funds |
Reconciliation | A way to balance your account records with your bank or credit union |
Renters Insurance | Covers your personal property in a rented apartment or home |
Savings Account | Account for storing or saving money with limited withdrawals |
Transfer | When money is moved from one account to another |
Utilities | A term used to reference electric, water, gas, and other services |
Overdraft Fee | A fee charged to your account when you spend more money than you have |