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24 Cards in this Set
- Front
- Back
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Deposit Slip
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A paper form you complete to add money to an account.
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Expense
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An item on which you spend money.
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Finance Charge
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The interest charged on credit card purchases. Can also be a penalty assessed for late payment of for bouncing a check (see overdraft).
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Individual Retirement Account (IRA)
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An investment account in which a person can set aside income and recieve certain tax benefits. The money may not be withdrawn until the owner reaches a certain age, or penalties may apply.
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Income
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The amount of money earned as a aresult of completing a job.
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Insufficent Funds
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The lack of sufficent funds in an account to pay a particular check or payment.
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Interest
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The fee paid for the use of money.
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Interest Rate
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The percentage of a sum of money that is charged for its use.
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Investment
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Property or another possession bought for future financial gain.
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Lend
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To provide(money)temporarily on condition that the amount borrowed be returned, usually with an interest fee.
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Loan
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An agreement between a borrower and a lender, in which the borrower agrees to repay money with interest over a period of time.
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Money
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Currency used as the accepted medium of exchange that both measures worth and stores value.
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Monthly statement
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A summary letter from the bank that lists by date the money put in and taken out of an account
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Mutual Fund
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An investment in which a gropu of people put their money together and pay a manager to buy a collection of investments, like stocks from different companies or bonds.
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Overdraft
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When a check is written for an amount that exceeds the available account balance. The bank generally charges the checking account holder a fee for overdrawing the account, which results in a returned, or "bounced", check.
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Personal Identification Number (PIN)
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A secrect combanination of numbers that you use to gain access to your account through an electronic device such as an automated teller machine.
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Portfolio
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A group of investments held by an investor, investment company, or financial institution.
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Returned Check
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A check that is not honored by a bank because the account has insufficent funds. This is also referred to as a "bounced Check".
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Savings
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Money set asode for large purchases in the future.
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Savings account
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A bank account for storing money and to which the bank adds interest.
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Stock
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Certificate of ownership in a company.
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Value
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A fair price or return.
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Withdraw
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To take money from an account at the bank.
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Withdrawal Slip
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A paper form you complete to take money form an account.
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