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      <title>Banking Vocabulary by Megan Ritter</title>
      <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h</link>
      <description></description>
      <language>en-us</language>
      <pubDate>2024-09-26 14:32:22 UTC</pubDate>
      <lastBuildDate>2024-10-01 15:13:53 UTC</lastBuildDate>
      <webMaster>hello@padlet.com</webMaster>
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      <item>
         <title>Budget</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3140565288</link>
         <description><![CDATA[<p>Definition: the total sum of money set aside or needed for a purpose</p><p><br/></p><p>Sentence: For the new year I decided to start budgeting in groups of my wants, needs, and savings.</p>]]></description>
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         <pubDate>2024-09-26 14:39:08 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3140565288</guid>
      </item>
      <item>
         <title>Discretionary Income</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3142679196</link>
         <description><![CDATA[<p>Definition: money left over after a person pays their taxes and pays for essential goods and services like housing and food</p><p><br/></p><p>Sentence: My family vacation will be paid for using my discretionary income.</p>]]></description>
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         <pubDate>2024-09-27 14:18:37 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3142679196</guid>
      </item>
      <item>
         <title>Recurring Expenses</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3142688219</link>
         <description><![CDATA[<p>Definition: A cost that occurs on a regular basis and is necessary for the ongoing operation of a business</p><p><br/></p><p>Sentence: A recurring expense that must be paid by a company is rent.</p>]]></description>
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         <pubDate>2024-09-27 14:24:25 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3142688219</guid>
      </item>
      <item>
         <title>Fixed Expenses</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3142701294</link>
         <description><![CDATA[<p>Definition: business expenses that are not dependent on the level of goods or services produced by the business</p><p><br/></p><p>Sentence: Companies tend to have high fixed expenses because of things like rent.</p>]]></description>
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         <pubDate>2024-09-27 14:32:09 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3142701294</guid>
      </item>
      <item>
         <title>Variable Expenses</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3142709117</link>
         <description><![CDATA[<p>Definition: Costs that change as the quantity of the good or service that a business produces changes</p><p><br/></p><p><br/></p><p>Sentence: A variable expense that is likely to change the most every month would be entertainment costs (such as going to the movies).</p>]]></description>
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         <pubDate>2024-09-27 14:37:08 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3142709117</guid>
      </item>
      <item>
         <title>Budget surplus</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148389806</link>
         <description><![CDATA[<p>Definition: When the federal government collects more money than it spends.</p><p><br/></p><p><br/></p><p>Sentence: Ohio has a plan to spend $700 million budget surplus.</p>]]></description>
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         <pubDate>2024-10-01 14:16:21 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148389806</guid>
      </item>
      <item>
         <title>Budget Deficit</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148397106</link>
         <description><![CDATA[<p>Definition: A negative balance between a government's spending and revenues</p><p><br/></p><p><br/></p><p>Sentence: Governments have spent heavily this past year and have run up big budget deficits.</p>]]></description>
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         <pubDate>2024-10-01 14:19:38 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148397106</guid>
      </item>
      <item>
         <title>Liquidity</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148403841</link>
         <description><![CDATA[<p>Definition: The efficiency or ease with which an asset or security can be converted into ready cash without affecting its market price.</p><p><br/></p><p><br/></p><p>Sentence: One way to ensure liquidity is to maintain large cash balances or arrange necessary borrowing facilities but neither approach results in optimal profitability</p>]]></description>
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         <pubDate>2024-10-01 14:22:40 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148403841</guid>
      </item>
      <item>
         <title>FDIC</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148409452</link>
         <description><![CDATA[<p>Definition: An independent agency created by Congress to maintain stability and public confidence in the nation's financial system.</p><p><br/></p><p><br/></p><p>Sentence: All reputable banks in the U.S.  are insured by the FDIC.</p>]]></description>
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         <pubDate>2024-10-01 14:25:17 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148409452</guid>
      </item>
      <item>
         <title>Credit Union</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148416309</link>
         <description><![CDATA[<p>Definition: A non-profit making money cooperatives whose members can borrow from pooled deposits at low interest rates.</p><p><br/></p><p><br/></p><p>Sentence: There is a very successful credit union in my constituency, which provides simple banking.</p>]]></description>
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         <pubDate>2024-10-01 14:28:34 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148416309</guid>
      </item>
      <item>
         <title>Checking Account</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148420490</link>
         <description><![CDATA[<p>Definition: a deposit account or bank account held at a bank or other financial institution</p><p><br/></p><p><br/></p><p>Sentence: Do not mix business and personal finances by using the same checking account for your home and business.</p>]]></description>
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         <pubDate>2024-10-01 14:30:41 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148420490</guid>
      </item>
      <item>
         <title>ATM</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148425179</link>
         <description><![CDATA[<p>Definition: banking outlets where you can withdraw cash without going into a branch of your bank.</p><p><br/></p><p><br/></p><p>Sentence: Automated teller machines, or ATMs, have been part of everyday life for many American since the 1980s.</p>]]></description>
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         <pubDate>2024-10-01 14:33:03 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148425179</guid>
      </item>
      <item>
         <title>Debit Card</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148428310</link>
         <description><![CDATA[<p>Definition: a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.</p><p><br/></p><p>Sentence: The debit card balance must be paid in full by the end of each month.</p><p><br/></p>]]></description>
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         <pubDate>2024-10-01 14:34:38 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148428310</guid>
      </item>
      <item>
         <title>Savings Account</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148432571</link>
         <description><![CDATA[<p>Definition: A banking account that is designed to hold your money.</p><p><br/></p><p>Sentence: I opened a savings account with $50 after my first pay check.</p>]]></description>
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         <pubDate>2024-10-01 14:36:41 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148432571</guid>
      </item>
      <item>
         <title>Money Market Deposit Account</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148437916</link>
         <description><![CDATA[<p>Definition: A money market account or money market deposit account is a deposit account that pays interest based on current interest rates in the money markets.</p><p><br/></p><p><br/></p><p>Sentence: Everbank has a promotion at a press time of 2.25 percent for a new money market account.</p>]]></description>
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         <pubDate>2024-10-01 14:39:18 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148437916</guid>
      </item>
      <item>
         <title>APY</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148444027</link>
         <description><![CDATA[<p>Definition: The interest rate earned on an investment in one year, including compound interest.</p><p><br/></p><p>Sentence: Higher APY means more potential earnings for savings and investments.</p>]]></description>
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         <pubDate>2024-10-01 14:42:05 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148444027</guid>
      </item>
      <item>
         <title>Nominal Interest Rate</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148449063</link>
         <description><![CDATA[<p>Definition: in finance and economics, the nominal interest rate or nominal rate of interest is the rate of interest stated on a loan or investment, without any adjustments for inflation.</p><p><br/></p><p>Sentence: You can invest $1,000 in a bank savings plan with 5% nominal interest.</p>]]></description>
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         <pubDate>2024-10-01 14:44:26 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148449063</guid>
      </item>
      <item>
         <title>Real Interest Rate</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148452229</link>
         <description><![CDATA[<p>Definition: An interest rate that has been adjusted for inflation.</p><p><br/></p><p><br/></p><p>Sentence: A consumer loan has a real interest rate of 6%.</p>]]></description>
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         <pubDate>2024-10-01 14:46:10 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148452229</guid>
      </item>
      <item>
         <title>Fee Schedule</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148456097</link>
         <description><![CDATA[<p>Definition: A complete listing of fees used by Medicare to pay doctors or other providers/suppliers.</p><p><br/></p><p>Sentence: The rates and fee schedule shall be established by the plant quarantine authority.</p>]]></description>
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         <pubDate>2024-10-01 14:48:03 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148456097</guid>
      </item>
      <item>
         <title>Signature Card</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148461867</link>
         <description><![CDATA[<p>Definition: A document that financial institutions use to authenticate a customer's signature for personal and business bank accounts.</p><p><br/></p><p><br/></p><p>Sentence: By signing the signature card, you waive your rights to notice of non-payment, dishonor or protest regarding all items presented for collection.</p>]]></description>
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         <pubDate>2024-10-01 14:50:56 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148461867</guid>
      </item>
      <item>
         <title>Emergency Fund</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148465022</link>
         <description><![CDATA[<p>Definition: An emergency fund, also known as a contingency fund, is a personal budget set aside as a financial safety net for future mishaps or unexpected expenses. </p><p><br/></p><p><br/></p><p>Sentence: Every club has an emergency fund allocated and reserved by this organization.</p><p><br/></p>]]></description>
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         <pubDate>2024-10-01 14:52:43 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148465022</guid>
      </item>
      <item>
         <title>Bank Statement</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148468820</link>
         <description><![CDATA[<p>Definition: A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution. </p><p><br/></p><p>Sentence: It is smart to keep a close eye on your bank statements to keep track of your spending.</p>]]></description>
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         <pubDate>2024-10-01 14:54:39 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148468820</guid>
      </item>
      <item>
         <title>PIN</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148472470</link>
         <description><![CDATA[<p>Definition: A numeric string that is used to authenticate a person to a system.</p><p><br/></p><p>Sentence: The dominant use cases for PINs are financial service transactions such as at a banks ATM.</p>]]></description>
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         <pubDate>2024-10-01 14:56:31 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148472470</guid>
      </item>
      <item>
         <title>Overdraft</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148483407</link>
         <description><![CDATA[<p>Definition: A deficit in a bank account caused by drawing more money than the account holds.</p><p><br/></p><p><br/></p><p>Sentence: I paid my overdraft as soon as I received my pay check.</p>]]></description>
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         <pubDate>2024-10-01 15:02:30 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148483407</guid>
      </item>
      <item>
         <title>Nonsufficient Funds Fee</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148487860</link>
         <description><![CDATA[<p>Definition: Can occur when you do it have enough money in your checking account to cover the entire transaction.</p><p><br/></p><p><br/></p><p>Sentence: I wrote a check that was returned because of nonsufficient funds.</p>]]></description>
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         <pubDate>2024-10-01 15:05:14 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148487860</guid>
      </item>
      <item>
         <title>Fraud</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148491096</link>
         <description><![CDATA[<p>Definition: wrongful or criminal deception intended to result in financial or personal gain.</p><p><br/></p><p><br/></p><p>Sentence: The court found him guilty of bank fraud.</p>]]></description>
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         <pubDate>2024-10-01 15:07:12 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148491096</guid>
      </item>
      <item>
         <title>FTC</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148496810</link>
         <description><![CDATA[<p>Definition: An independent, bipartisan agency of the U.S. government tasked with protecting consumers and ensuring a strong competitive market.</p><p><br></p><p>Sentence: The FTC alleged that the nation's largest landlord of single-family homes deceived renters about lease costs, charged undisclosed junk fees, and unfairly withheld security deposits.</p>]]></description>
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         <pubDate>2024-10-01 15:10:15 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148496810</guid>
      </item>
      <item>
         <title>Identity Theft</title>
         <author>26ritterm</author>
         <link>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148503793</link>
         <description><![CDATA[<p>Definition: the fraudulent acquisition and use of a person's private identifying information, usually for financial gain.</p><p><br/></p><p><br/></p><p>Sentence: There's been a huge increase in identity theft and associated financial theft.</p>]]></description>
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         <pubDate>2024-10-01 15:13:53 UTC</pubDate>
         <guid>https://padlet.com/26ritterm/g2dk4lo69mpr4m6h/wish/3148503793</guid>
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