Banking Unit Vocabulary by Malakai Bradley https://padlet.com/27bradleym2/v089f9pv0uwbmi0q en-us 2024-09-26 16:09:34 UTC 2024-12-04 03:22:27 UTC hello@padlet.com Budget 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961149 Definition: an estimate, often itemized, of expected income and expense for a given period in the future.


Sentence: My budget has declined so I can no longer spend 50% on entertainment.

]]> 2024-09-27 17:35:51 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961149 Discretionary Income 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961152 Definition: is money left over after a person pays their taxes and pays for essential goods and services like housing and food.


Sentence: My discretionary income is so low after taxes are done.

]]> 2024-09-27 17:35:51 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961152 Recurring expenses 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961153 Definition: is a cost that occurs on a regular basis and is necessary for the ongoing operation of a business.


Sentence: My car payment is a recurring expense each month.

]]> 2024-09-27 17:35:51 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961153 Fixed Expenses 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961156 Definition: Fixed expenses are costs that typically remain the same in price and frequency.

Sentence: My house payment is a fixed expense of mine due to it never changing

]]> 2024-09-27 17:35:51 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961156 Budget Surplus 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961159 Definition: happens when a company's revenue is higher than what its spending


Sentence: The donut shop has a budget surplus this year.

]]> 2024-09-27 17:35:51 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961159 Variable Expenses 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961160 Definition: It is an expense that is paid month to month, but cost can vary


Sentence: My light bill cost can vary by how much electricity I use.

]]> 2024-09-27 17:35:51 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961160 Budget Deficit 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961187 Definition: When a corporation spends more money than their revenue.


Sentence: Our company has entered a budget deficit, so we need to cut down on certainty things.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961187 Liquidity 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961188 Definition: is a financial institution's ability to pay its debts and fund assets.


Sentence: The company was able to liquidity all their debts

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961188 FDIC 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961189 Definition: FDIC's purpose is to protect depositors' money in the event that an insured bank fails, and to maintain public confidence and stability in the financial system. 


Sentence: The FDIC is very useful to keep money safe in case a bank failing.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961189 Credit Union 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961190 Definition: a not-for-profit financial institution that accepts deposits, make loans, and provides a wide array of other financial services and products.


Sentence: The Credit union granted me a loan so I can pay my bills.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961190 ATM 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961191 Definition: a ATM is a machine that lets you deposit or withdraw money from your account.


Sentence: I pulled out 50 dollars from the ATM today.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961191 Savings Account 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961192 Definition: an account that accumulates interest over time.


Sentence: I opened a saving account today at the bank.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961192 Checking Account 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961193 Definition: a type of deposit account that you can open at a brick-and-mortar bank, online bank or credit union.


Sentence: I just opened a checking account with Huntington Bank.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961193 Debit Card 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961194 Definition: a card that holds the ability to spend funds saved in the account.


Sentence: I used a debit card to buy my food today.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961194 APY 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961195 Definition: is the rate of interest earned on a savings or investment account in a year.


Sentence: My account gained a 3 percent interest rate this year.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961195 Money Market Deposit Account 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961196 Definition: is a type of savings account that combines features of both checking and savings accounts.


Sentence: I opened a Money market deposit account today to make more money.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961196 Nominal Interest Rate 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961197 Definition: is the interest rate on a loan or investment before adjusting for inflation, fees, or compounding.


Sentence: My interest rate is really nice until inflation becomes a thing to it.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961197 Real Interest Rate 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961198 Definition: the interest rate that has been adjusted for inflation.


Sentence: My interest rate was so good until inflation had it adjusted.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961198 Fee Scheduling 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961200 Definition: is a complete listing of fees used by Medicare to pay doctors or other providers/suppliers.


Sentence: Our hospital pay doctors and surgeons by using scheduling fees.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961200 Signature Card 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961201 Definition: A signature card is a document that financial institutions keep on file to verify a customer's signature and other account information


Sentence: My bank uses my Signature Card to make sure it is me accessing my account.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961201 Emergency Fund 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961208 Definition: An emergency fund is a savings account that contains money set aside to cover unexpected expenses.


Sentence: I am creating an emergency fund in case something bad happens.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961208 Overdraft/Overdrafting 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961209 Definition: An overdraft occurs when a person spends more money than they have in their account and the bank still processes the transaction.


Sentence: My friend has a overdraft fee of 100 dollars.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961209 Bank Statement 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961210 Definition: a statement that tells you how much money was spent and how it was spent.


Sentence: My bank statement says I spent 500 dollars this week.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961210 PIN 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961212 Definition: is something that identifies your identity


Sentence: I must type in my pin number to finish transactions.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961212 Nonsufficient funds fee 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961213 Definition: a fee that you get when you try and draw out money from an account, this is money the account doesn't have.


Sentence: My friend got a Nonsufficient funds fee for trying to drag out some money they don't have.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961213 Fraud 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961214 Definition: pretending to be a certain person with their card or pin number.


Sentence: I committed fraud on Imani camp. (joking of course)

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961214 FTC 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961216 Definition: FTC stands for Federal Trade Commission, a US agency that protects consumers and enforces antitrust and consumer protection laws


Sentence: The FTC protects our rights as consumers.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961216 Identity Theft 27bradleym2 https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961217 Definition: The stealing of someones identity for malicious activities.


Sentence: My friend committed identity fraud to someone.

]]> 2024-09-27 17:35:52 UTC https://padlet.com/27bradleym2/v089f9pv0uwbmi0q/wish/3142961217