Banking Vocabulary by Caleb Singleton https://padlet.com/27singletonc/di3tth6tp0afdufv en-us 2024-09-26 16:09:33 UTC 2024-09-27 16:56:05 UTC hello@padlet.com Budget 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140765720 Definition: a list of expenses.

Sentence: I had a low budget on my shopping list.

]]> 2024-09-26 16:19:21 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140765720 Discretionary Income 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140771441 Definition: income remaining after deduction of taxes, other mandatory charges, and expenditure on necessary items.


Sentence: The girls spent their discretionary income attending plays and shows.

]]> 2024-09-26 16:23:02 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140771441 Recurring Expenses 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140775189 Definition: a cost that occurs on a regular basis and is necessary for the ongoing operation of a business


Sentence: Tracking your recurring expenses can help you ensure that you have enough cash on hand to cover your regular bills and other ongoing expenses.

]]> 2024-09-26 16:25:22 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140775189 Variable Expenses 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140776746 Definition: expenses that change depending on how often you use a product or service.


Sentence: The variable expenses are the most important aspect of your budget and require the most attention.

]]> 2024-09-26 16:26:19 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140776746 Budget Surplus 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140776911 Definition: when a government or entity receives more money than it spends during a specific period of time.


Sentence: The state currently has a $3 million budget surplus.

]]> 2024-09-26 16:26:26 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140776911 Budget Deficit 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140777354 Definition: occurs when a government, business, or individual spends more than it receives in revenue over a specific period of time.


Sentence: She inherited a $2 billion state budget deficit when she took office.

]]> 2024-09-26 16:26:39 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140777354 Liquidity 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140777485 Definition: the availability of liquid assets to a market or company.


Sentence: Business liquidity has risen.

]]> 2024-09-26 16:26:44 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140777485 FDIC 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140777589 Definition: The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that insures deposits in banks and savings associations.


Sentence: The FDIC criticized the bank for hazardous lending.

]]> 2024-09-26 16:26:48 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140777589 Credit Union 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140777960 Definition: a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.


Sentence: A credit union was founded in the village in 1945 and continues to operate today.

]]> 2024-09-26 16:27:01 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140777960 Checking Account 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778092 Definition: an account at a bank against which checks can be drawn by the account depositor.


Sentence: He has his checking account at the Commonwealth Bank.

]]> 2024-09-26 16:27:06 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778092 ATM 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778228 Definition: a machine that dispenses cash or performs other banking services when an account holder inserts a bank card.


Sentence: Is there an ATM near here? I need to get some money out.

]]> 2024-09-26 16:27:10 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778228 Debit Card 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778390 Definition: a card issued by a bank allowing the holder to transfer money electronically to another bank account when purchasing.


Sentence: The debit card balance must be paid in full by the end of each month.

]]> 2024-09-26 16:27:15 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778390 Savings Account 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778494 Definition: a bank account that earns interest.


Sentence: He opened a savings account with $50 after his second paycheck.

]]> 2024-09-26 16:27:19 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778494 Money Market Deposit Account 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778665 Definition: a type of bank or credit union savings account with some features not found in regular savings accounts.


Sentence: MMDAs offer higher interest rates than traditional checking accounts.

]]> 2024-09-26 16:27:24 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778665 APY 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778838 Definition: the interest rate earned on an investment in one year, including compounding interest.


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

]]> 2024-09-26 16:27:30 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778838 Nominal Interest Rate 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778933 Definition: the interest rate on a loan or investment that is stated without taking inflation into account.


Sentence: The nominal interest rate in the UK is higher than in the USA because the expected inflation rate is higher.

]]> 2024-09-26 16:27:33 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140778933 Real Interest Rate 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140779042 Definition: the rate of interest an investor, saver, or lender receives (or expects to receive) after allowing for inflation.


Sentence: Real interest rates are dictated by the rate of inflation.

]]> 2024-09-26 16:27:37 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140779042 Fee Schedule 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140779141 Definition: a list of maximum fees that healthcare providers can charge for their services.


Sentence: The permit-issuing guidelines and the fee schedule shall be prescribed by the central competent authority.

]]> 2024-09-26 16:27:42 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140779141 Signature Card 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140802404 Definition: a document that financial institutions keep on file to verify a customer's signature and other account information.


Sentence: A signature card form is produced by software that contains the customer's personal information and new account number.

]]> 2024-09-26 16:42:06 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140802404 Emergency Fund 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140802898 Definition: a stash of money set aside to cover the financial surprises life throws your way.


Sentence: Learn to budget and set aside an emergency fund.

]]> 2024-09-26 16:42:25 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140802898 Bank Statement 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140804150 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: Even scrolling through your bank statement can be fun.

]]> 2024-09-26 16:43:10 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140804150 PIN 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140807466 Definition: A Personal Identification Number


Sentence: Please insert your card in the machine and key in your PIN.

]]> 2024-09-26 16:45:21 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140807466 Overdraft/Overdrafting 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140808050 Definition: occurs when you spend more money than you have in your checking account and your bank pays the transaction anyway.


Sentence: The borrowing spree was fueled by an increase in personal loans and overdrafts.

]]> 2024-09-26 16:45:44 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140808050 Nonsufficient funds fee 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140809421 Definition: a penalty charged by a bank or credit union when a customer's account balance is insufficient to cover a transaction.


Sentence: I got charged because I had an nonsufficient funds fee.

]]> 2024-09-26 16:46:40 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140809421 Fraud 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140810208 Definition: a person or thing intended to deceive others, typically by unjustifiably claiming or being credited with accomplishments or qualities.


Sentence: He was found guilty of bank fraud.

]]> 2024-09-26 16:47:09 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140810208 FTC 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140811168 Definition: The Federal Trade Commission (FTC) is 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.

]]> 2024-09-26 16:47:49 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140811168 Identity Theft 27singletonc https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140811863 Definition: a crime that occurs when someone uses another person's personal information without their permission for financial gain.


Sentence: How can we protect ourselves against identity theft?

]]> 2024-09-26 16:48:17 UTC https://padlet.com/27singletonc/di3tth6tp0afdufv/wish/3140811863