Term
|
Definition
| The cash to pay for your budgeted expenses is put into labeled envelopes for each expense. When the envelope is empty you are out of money for that expense. |
|
|
Term
|
Definition
| Buying something without thinking it out first |
|
|
Term
|
Definition
| To compare your bank statement to your check register and adjust for the differences |
|
|
Term
|
Definition
| Giving every dollar of income a name: Spending all your money on paper before getting it |
|
|
Term
| Overdraft/Bounced Check/NSF |
|
Definition
| A transaction such as a check or a debit that you dont have enough money to cover; Nonsufficient funds |
|
|
Term
|
Definition
|
|
Term
|
Definition
| The value of the items you own minus the amount of debt you have |
|
|
Term
|
Definition
| Auto Teller Machine- A bank machine that gives out cash from your account and accepts deposits around the clock |
|
|
Term
|
Definition
| The book in which you keep records of checks, deposits, debit card transactions, and ATM withdrawals |
|
|
Term
| Balancing a Checking Account |
|
Definition
| Calculations that are made to determine the difference between the payments from, and the deposits to a checking account |
|
|
Term
|
Definition
| Like a credit card, but directly attached to a checking account, and can be used with a PIN to pay for items at a store |
|
|
Term
|
Definition
| Financial institution at which you can get a checking account or savings account |
|
|
Term
|
Definition
| An automatic deposit of a paycheck without having to take a physical check to the bank |
|
|
Term
|
Definition
| Monthly printout from your bank that shows all transactions in your accounts |
|
|
Term
|
Definition
| Service fees for use of the checking account, built into the service agreement |
|
|
Term
|
Definition
| A no frills checking account that offers a low minimum opening deposit and reduced fees for students |
|
|
Term
| Interest-Bearing Checking Account |
|
Definition
| A checking account that pays interest on the balance |
|
|
Term
|
Definition
| A debit against your checking account written on a paper form |
|
|
Term
|
Definition
| Amounts withdrawn from your account beyond the money the account held |
|
|
Term
|
Definition
| Business that charges a fee to cash a check such as a paycheck. Banks will provide this service for free to their customers |
|
|
Term
|
Definition
| A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday |
|
|
