Banking Terms

Banking

100

checking account

What is an account that allows you to deposit money and write checks

200

savings account

What is a bank account that allows you to put money away to use later. The bank pays you interest in exchange for use of the money in the account

300

A Debit card uses

What is money from your account

400

A credit card uses

What is a money borrowed from the credit card company

500

direct deposit

What is earnings automatically deposited into bank accounts

Banking 2

100

ATM

What is Acronym for automated teller machine

200

deposit

What is the money put into a bank account.

300

withdrawal

What is a transaction that takes money out of your account

400

balance

What is the amount of money currently in an account

500

transaction

What is business done with a bank, including deposits and withdrawals

Needs/Wants

100

Needs

What is- things you can live without

200

Wants

What is- things you want, but you can live without them

300

Values

What is- what help us judge items as needs or wants

400

Name 2 examples of needs

Answers may vary

500

Name 2 examples of wants

Answers may vary

Budgeting

100

Expenses

What is- Things you spend money on

200

Fixed Expense

What is-These occur regularly and don’t change from month to month.

300

Variable Expense

What is- different each month, changes, doesn't happen regularly

400

Budget

What is- a plan for how to spend your money

500

Income

What is- how much money you earn

Expenses

100

Rent

What is -fixed

200

Gas for your car

What is- variable

300

Groceries

What is- variable

400

Car payments

What is -fixed

500

Phone bill

What is- fixed