| A | B |
|---|
| Certificate of Deposit | Record of money deposited in a financial institution for a stated time period at a fixed interest rate. |
| Checkbook | A book containing blank checks to be used by the holder of a bank account. |
| Bank statement | An account summary of all financial transactions occurring over a given period of time on an account offered by a financial institution. |
| Balance | The remaining amount in a customer’s account that represents the amount the customer is able to withdraw. |
| Account Summary | The section of a bank statement that provides a quick overview of account activity. |
| ATM | An unattended computerized machine that dispenses money when a personal coded card is used. |
| Debit | The recording or an entry of debt in an account. |
| Electronic Banking | A service provided by financial institutions that allows customers to manage their banking transactions through computerized network services. |
| Secured Loan | A loan that is backed by collateral such as cars, houses, or other assets. |
| Withdrawal | The act of taking money out of an account. |
| Reconciliation | The process of comparing two sets of records and getting them to correspond. |
| Inflows | Any incoming money; your income, tips, overtime pay, and any other sources of income that you may have. |
| Outflows | Outgoing expenses; anything that you spend money on. |
| Surplus | The money left over when income exceeds expenditure. |
| Variable Expense | An expense that changes from period to period, such as food or gasoline costs. |
| Fixed Expense | Expenses that remain the same regardless of the circumstances. |
| Discretionary Expense | Any expense that is not considered essential to the household or business. Examples include movie tickets, eating out, expensive clothes, and video games. |
| Income | Money that is received from any source. Including the money one earns through labor, for services, from the sale of goods, allowance, disability, inheritance investments, etc. |
| Annual Income | The total amount of income an individual earns in a year from working, interest income, dividends, gifts, etc. |
| Passive Income | Earnings received from rental property or other business activity where the individual is not actively involved (such as royalties from publishing a book). |
| Portfolio Income | Income from investments, including dividends, interest, or the sale of a property. |
| Mutual Funds | Investment companies that combine the money from a large group of investors to buy stocks and other investments. |
| Pension Funds | Financial providers that specialize in gathering payments into retirement funds and investing those payments so that they can accumulate to an amount that provides income at retirement. |
| Credit Union | A cooperative nonprofit financial institution that is privately owned and controlled by its members. It provides depository and lending services to its members. |
| Financial Health | A description of a person’s or an organization’s finances. |
| Time Value of Money | Money’s potential to grow in value over time; the relationship between time, money, a rate of return, and earnings growth. |
| Interest | Cost of borrowing money expressed as a percentage of the amount borrowed. |
| Risk | Degree of uncertainty of return on an asset; the possibility of loss. |
| Wealth | A measure of the value of all of the net assets owned by a person, a community, a company, or a country. Net worth for a business or an individual is computed by subtracting personal liabilities from personal assets. |
| Deficit | A financial shortage that occurs when liabilities exceed assets or when cash inflows are less than cash outflows. |
| Cash Flow | The flow of money in and out of a business or a household over a period of time. |
| Net Pay | Earned incom after deductions. |
| Commercial Banks | A for-profit intermediary that provides depository and lending services such as checking and savings/investment accounts, credit cards, and much more. |
