Shared Flashcard Set

Details

Vocabulary Review
Unit 1 Vocabulary
27
Finance
10th Grade
02/14/2013

Additional Finance Flashcards

 


 

Cards

Term
Financial Planning
Definition
A plan for managing money in such a way that a person will meet short term financial goals and long term financial goals over time.
Term
Short Term Goal
Definition
One that requires saving money and can be reached within a year.
Term
Long Term Goal
Definition
One that requires saving money for more than one year.
Term
Needs
Definition
Things that you must have to live.
Term
Wants
Definition
Things that you would like to have.
Term
Fixed
Definition
Expenses that are always the same and you can predict to pay them every week, every two weeks, or every month.
Term
Variable
Definition
Expenses that change based on usage or amount.
Term
Periodic
Definition
Expenses come regularly, but less often than monthly.
Term
Income
Definition
The money you earn from a job or get by another source.
Term
Expense
Definition
Something you spend on money on.
Term
Budget
Definition
A plan for how you are going to spend your money.
Term
Commercial Banks
Definition
A full service financial institution that offers a variety of services
Term
Savings and Loans
Definition
A financial institution that provides loans and mortgages to customers who hold a saving account.
Term
Credit Unions
Definition
A nonprofit financial cooperative owned by its members.
Term
Interest rate
Definition
A percent that is paid on money in a bank account or money owed.
Term
Payday lenders
Definition
"Predatory lenders" who charge high interest.
Term
Check
Definition
A hand-written document used to pay for purchases using funds in a personal checking account.
Term
Signature
Definition
The way you sign your name on important papers.
Term
Insufficient Funds
Definition
A situation where an account does not have enough money to cover a payment.
Term
Check Register
Definition
A personal record of your checking accounts transactions.
Term
Debit Card
Definition
A bank card that allows you to use it as a check or at ATM. You can use this card like a credit card.
Term
Balance
Definition
The total amount of money you have in your account.
Term
PIN
Definition
Means Personal Identification Number
Term
Deposit
Definition
To put money into an account.
Term
Deposit Slip
Definition
A form you fill out when you put money into your account.
Term
Account Number
Definition
The number a bank gives to an individual account.
Term
Endorse
Definition
To write one's signature on the back of a check, which will transfer money.
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