vocabulary by Aiden Stewart

Budget

27stewarta — 2024-09-26 12:57:57 UTC

definition: an certain amount of something

sentence: I'm on a 950 dollar fishing budget

Discretionary Income

27stewarta — 2024-09-26 13:13:58 UTC

Definition: money left over after a person pays their taxes and pays for essential goods and services like housing and food

sentence: I have money left over from

my budget

Recurring Expenses

27stewarta — 2024-09-26 13:17:13 UTC

definition: costs that are paid on a regular basis, such as monthly, quarterly, or annually

sentence: I pay for fishing lures on weekly basis

Fixed Expenses

27stewarta — 2024-09-26 13:28:48 UTC

definition: car payments, mortgage or rent payments, insurance premiums and real estate taxes

sentence: I have fixed expenses on my car payments

Variable Expenses

27stewarta — 2024-09-26 13:34:26 UTC

definition: raw materials, piece-rate labor, production supplies, commissions, delivery costs, packaging supplies, and credit card fees.

sentence: I paid packaging fee for the 120 fishing lures

Budget Surplus

27stewarta — 2024-09-26 13:54:39 UTC

definition: occurs when revenue or income is greater than expenses, resulting in extra money

sentence: I spent less money then I thought and saved money

Budget Deficit

27stewarta — 2024-09-26 13:59:42 UTC

sentence: the government spent more money this week. than last week

Liquidity

27stewarta — 2024-09-26 14:03:36 UTC

definition: the availability of liquid assets to a market or company.

sentence: I help my company's Liquidity

fdic

27stewarta — 2024-09-27 12:42:22 UTC

definition: an independent agency created by Congress to maintain stability and public confidence in the nation's financial system.

sentance: All reputable banks in the U.S. are insured by the FDIC

Credit Union

27stewarta — 2024-09-27 12:47:58 UTC

definition: a not-for-profit financial institution that accepts deposits, make loans, and provides a wide array of other financial services and products.

sentence: a financial institution that offers its members low-interest loans.

Checking Account

27stewarta — 2024-09-27 12:50:49 UTC

definition: an account at a bank against which checks can be drawn by the account depositor.

sentence: He has his checking account at the bank

ATM

27stewarta — 2024-09-27 12:53:27 UTC

defintion: Automated Teller Machine

sentence: Our plastic cards can be used for cash withdrawals from ATMs all over the world

Debit Card

27stewarta — 2024-09-27 12:58:12 UTC

sentence: I have put money on my debit card

Savings Account

27stewarta — 2024-09-27 13:04:44 UTC

definition : a bank account that earns interest.

sentence : i saved my money in my account to buy a baitcaster

Money Market Deposit Account

27stewarta — 2024-09-27 13:07:15 UTC

definition: a type of bank or credit union savings account with some features not found in regular savings accounts

sentence : trading in very short-term debt investments

27stewarta — 2024-09-27 13:10:10 UTC

definition : the interest rate earned on an investment in one year, including compounding interest.

sentence: It pays 5% a year interest compounded quarterly, and that adds up to 5.095%.

nominal interest rate

27stewarta — 2024-09-27 13:13:00 UTC

definition: the interest rate on a loan or investment before adjusting for inflation, compounding, or other factors.

sentence: the interest rate that is stated on a loan or bond

Real Interest Rate

27stewarta — 2024-09-27 13:14:57 UTC

definition: nominal interest rate minus the inflation rate

sentence: A consumer loan has a real interest rate of 6%, and the expected inflation rate is 2%.

Fee Schedule

27stewarta — 2024-09-27 13:16:56 UTC

definition: a complete listing of fees used by Medicare to pay doctors or other providers/suppliers.

sentence: The amount of the fee depends upon the fee schedule of the institution that owns the ATM.

signature card

27stewarta — 2024-09-27 13:22:30 UTC

definition : a document that financial institutions use to authenticate a customer's signature for personal and business bank accounts

sentence: If we can collect 200,000 signatures on our petition, then our candidate will be included on the ballot.

Emergency Fund

27stewarta — 2024-09-27 13:24:43 UTC

definition: Money set aside to pay for unexpected expenses

sentence : It has an emergency fund of half-a-million dollars made up entirely of repayments of loans to refugees over the years.

Bank Statement

27stewarta — 2024-09-27 13:26:34 UTC

definition: a printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account.

sentence: The next morning Caroline examined Livy's bank statement with a knowledgeable eye.

27stewarta — 2024-09-27 13:31:00 UTC

definition: a numerical code used in many electronic financial transactions

sentence: I bought some thing with my debit card and used my pin

Overdraft/Overdrafting

27stewarta — 2024-09-27 13:34:34 UTC

definition : when you don't have enough money in your account to cover a transaction, but the bank pays the transaction anyway.

sentence: I paid off my overdraft as soon as I got my pay cheque.

Nonsufficient funds fee

27stewarta — 2024-09-27 13:36:49 UTC

definition: commonly charged by banks when an account lacks the funds needed to cover a transaction, and the bank doesn't allow the transaction to go through.

sentence: Say you write a check to your landlord for $600, yet your checking account only has a balance of $500.

Fraud

27stewarta — 2024-09-27 13:39:00 UTC

definition: the act of deceiving someone or withholding important information to gain something of value.

sentence: He was found guilty of bank fraud.

ftc

27stewarta — 2024-09-27 13:41:49 UTC

definition: a law enforcement agency that protects consumers and promotes competition by enforcing antitrust and consumer protection laws

sentence: The company is being investigated by the FTC.

Identity Theft

27stewarta — 2024-09-27 13:44:44 UTC

definition: of Identity Theft is fraud

sentence: some body stole my Identity