Vocabulary
Components of a Checking Account
Financial Goals & Savings Plan
Bank Terms
Parts of a Check
100

a bank account with $ to be saved

savings account

100

the least amount of money you need to have in the account to avoid a monthly fee

minimum balance

100

takes under one year to achieve

Example: saving money to move out on your own 

short-term financial goal

100

to remove money from a bank account

withdraw (debit)

100

What is written in the top right corner of the check?

the date 

200

$ you receive from different sources

income

200

allows you to withdraw money from your bank account

ATM card

200

-for when a major disruption occurs in your income like the loss of a job

-3-6 times the amount of your monthly expenses  

Emergency Saving Fund

200

to put money in a bank account

deposit (credit)

200

What is typed on the top left side of a check? 

your name and address

300

amount of $ that is spent on something

expenditures

300

allows you to make online and in store purchases and make withdraws (taking $ out) and deposits (putting $ in) into your bank account(s) 

debit card

300

will take 5+ years to achieve 

Examples: saving for retirement or buying a home

Long-term financial goal 

300

when money is passed from one person or account to another

transaction 

300

What goes on the bottom right side of a check?

Your signature

400

an account with a bank that allows the holder to make deposits (put $ in) and withdrawals (take $ out)

checking account

400

a piece of paper that is used to make a payment to someone using the money in a bank account

check

400

money that's set aside for unexpected and lower-cost expenses 

Examples: car maintenance, medical expenses  

rainy day fund 

400
the electronic transfer of a payment directly from the account of the payer to your account


direct deposit

400

What goes on the long line in the middle of the check?

written out amount of the check ($140.00- one hundred forty)

500

the amount of money in a bank account

balance

500

when money in your account is less than what you are trying to spend (usually will be charged a fee)

insufficient funds

500

takes 1-3 years to achieve 

Examples: college 

Mid-term financial goals 

500

to write your name on the back of (a check) that is written to you

to endorse

500

What two set of numbers are printed on the bottom left side of a check?

routing number and your account number

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