A bank account used for everyday transactions like paying bills and buying snacks.
Checking Account
Money you borrow and have to pay back later, usually with extra money added on.
Loan
A plan for how you save and spend your money
Budget
To put money into your bank account
Deposit
Financial Institute where you keep your money
Bank
A bank account that earns interest over time and is typically used for storing money you don't need right away.
Savings Account
The total amount of money you owe to others.
Debt
When you move money from one account to the next
Transfer
To take money out of your bank account
Withdrawal
Money a client or customer gives a person as part of a service, example tipping a waitress/waiter
Tip
A special card that lets you pay for things directly from your checking account.
Debit Card
A payment card that creates a loan for a purchase, meaning you must pay back the amount you spent plus interest.
Credit Card
What happens when you try to withdraw more money than you have in your bank account.
Overdraft
Specialized computer used by bank customers to manage their money - you can deposit or withdraw money from this
ATM
Money that a bank pays you over time to store money in a savings account in their bank
Interest
A monthly document sent to you by your bank that shows all the transactions from that month.
Bank Statement
A type of loan that is used to purchase a house.
Mortgage
The money you earn from working or investing
Income
Where one logs deposits and withdrawals from a checking account and keeps track of their balance
Checkbook Register
An expense that stays the same each money like rent or mortgage
Fixed Expense
The act of transferring a payment, like a paycheck, directly into a bank account without needing a paper check.
Direct Deposit
The extra money you pay back when you borrow money either on a loan or credit card
Interest (APR: Annual Percentage Rate)
The money you spend on things you need or want, like bills or new clothes.
Expenses
The amount of money in your account that you can use or withdraw
Available balance
An expense that you can control or adjust, for example, how much you spend on groceries, clothes, or long distance phone calls
Flexible Expense