| A | B |
|---|
| ATM | A computer terminal used to conduct business with a financial institution or purchase items such as postage stamps or transportation tickets; also known as a cash machine. |
| Bank | A state or federally chartered for-profit financial institution that offers commercial and consumer loans and other financial services. |
| Budget | A spending plan. |
| Checking Account | A bank account that allows you to transfer money you've deposited to a payee by writing checks or using a check or debit card to make purchases. |
| Credit Card | A plastic card that authorizes the delivery of goods and services in exchange for future payment with interest, according to a specific schedule. |
| Debit Card | A plastic card that provides access to electronic funds transfer (EFT) from an automated teller machine (ATM) or a point-of-sale (POS) terminal. |
| Deposit | A sum of money deposited in a bank. |
| Direct Deposit | The automatic transfer of salaries, wages, rents, benefits, or other sums, directly to the account of an employee or beneficiary. |
| Expenses | The cost of goods and services, including those that are fixed (such as rent and auto loan payments) variable (such as food, clothing, and entertainment) and those that are periodic (car repairs, doctor’s appointments). |
| Fixed Expenses | An item in your budget whose cost is the same each month, such as rent or mortgage payment. |
| Online Bank | Computerized service that allows a bank’s customers to get online with the bank via the internet to view the status of their account(s) and transaction history. It usually also allows them to transfer funds, pay bills, request check books, etc. |
| Savings Accounts | A financial institution deposit account that pays interest and allows withdrawals. |
| Variable Expenses | An item in your budget whose cost is different each month, such as a utility payment. |
| Withdrawal | The removal of money or securities from a bank or other place of deposit. |
| Entrepreneur | An individual who conceives of, establishes, operates, and assumes the risks of a business. |
| Financial Literacy | The ability to use knowledge and skills to manage one’s financial resources effectively for lifetime financial security. |
| Financial Security | Financial freedom from doubt, anxiety, or fear; a confident backup of funding in the form of assets or savings which can be used in a time of need. |
| Personal Finance | The principles and methods that individuals use to acquire and manage income and assets. |
