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26 Cards in this Set
- Front
- Back
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Asset |
anything of value that is owned |
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Budget |
a list of planned expenses and revenues |
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Financial plan |
an orderly program for spending and saving and investing the money you earn to achieve desired goals |
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Fixed Expensives |
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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Liability |
anything that is owned (debt) |
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Net Worth |
assets minus liabilities |
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Revenue |
income received from normal business activities |
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spending plan |
a plan fro spending and saving money based on a person;s goals during a given time |
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variable expensives |
expenses that change from one period to the next |
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wealth |
abundance of valuable resources or valuable material possessions |
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ATM |
provided banking customers with access to financial transactions in a public space without a teller |
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Blank Endorsement |
only indicated 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 to pay the states amount to a person or business named on the check |
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Check 21 |
when a check is electronically transferred and fund are immediately withdrawn from the account Similar to a debit card Think of walmart |
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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 financial products and services to its members lower rates on borrowing and higher rates on investing |
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Debit Card |
enables an individual to withdraw cash from an ATM or to pay directly for good or services at stores and restaurants |
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Endorsement |
A signature or statement on the back of the check that gives the financial institution authorization to cash/ deposit the check |
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Interest Rate |
the price for the borrower pays a creditor from the use of money over a period of time |
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Outstanding Check |
those checks issued by a depositor but not yet reported on a bank statement |
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Overdraft (Hot Checks) |
A check written for more money than your account has in it |
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Reconciliation |
the process of matching your checkbook register with the bank statement each month |
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Restrictive Endorsement |
An endorsement that limits further negotiating of the check |
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Special Endorsement |
an endorsement that limits the transfer of the check to a particular person |
