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26 Cards in this Set
- Front
- Back
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Assets |
Anything of value that is own. |
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Budget |
A list of planned expenses and revenues. |
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Financial Plan |
An orderly programs for spending, savings, and investing the money you earn to achieve desired goals. |
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Fixed Expenses |
Expenses that remain the same from period to period. |
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Income |
Money coming in through wages earned, allowance, or other sources. |
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Liabilites |
Anything that is owed (debt). |
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Net Worth |
Assets minus Liabilities. |
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Revenue |
Income received form normal business activities. |
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Spending Plan |
A plan for spending and savings money based on a person's goals during a given time. |
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Variable Expenses |
Expenses that change form one period to the next. |
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Wealth |
Abundance of valuable resources or valuable material possessions. |
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Automated Teller Machine (ATM) |
Provides banking customers with access to financial transaction with the need for bank teller. |
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Blank Endorsement |
Only includes the signature of the payee on the back of the check. |
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Canceled Check |
A check that has the bank's stamp, indicating it has cleared or gone through the financial system. |
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Check |
A written order to a bank pay the sated amount to a person or business named on the check. |
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Check 21 |
When a check is electronically transferred and funds immediately with drawn form the account. Similar to a debit card. |
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Checkbook Register |
A booklet used to record checking account transactions. |
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Credit Union |
A financial institution that provides financials products and services to its members. Lower rates on borrowing and higher rates on investing. |
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Debit Card |
Enables an individual with draw cash form an ATM or pay directly for goods or services at stores and restaurants. |
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Endorsement |
A signature or statement on the back of the check gives the financial institution authorization to cash / deposit the check. |
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Interest Rate |
The price the borrower pays a creditor for the use of money over a period of time. |
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Outstanding Check |
Those checks issued by a depositor but not yest reported on a bank statement. |
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Overdraft |
A check written for more money than your account holds. |
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Reconcilaition |
The process of matching your checkbook register with bank statement each month. |
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Restrictive Endorsement |
An endorsement that limits further negotiating of the check. |
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Special Endoresement |
An endorsement that limits the transfer of the check to a particular person. |
