Banking Vocabulary by Tyson Bates https://padlet.com/28batest/vg8q33qgwi1mheyk en-us 2024-09-26 16:09:33 UTC 2024-09-30 15:52:32 UTC hello@padlet.com Budget 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140753061 Definition: An estimate of expected income for a given amount of time.


Sentence: I need to budget the shopping for this vacation.

]]> 2024-09-26 16:11:55 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140753061 discretionary income 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140785548 Definition: the money left over after all necessary expenses have been paid.


Sentence: my bills have been lowering my discretionary income this year.

]]> 2024-09-26 16:31:40 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140785548 recurring expenses 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140803605 Definition: expenses that you pay regularly.


Sentence: these stupid bills are recurring expenses.



]]> 2024-09-26 16:42:51 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140803605 fixed expenses 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140810275 definition: expenses that are constant within your budget.


sentence: I should pay my fixed expenses before anything else.

]]> 2024-09-26 16:47:12 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140810275 variable expenses: 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140817434 definition: changes based on how much you use the product or service.


sentence: man these gas prices are insane variable expenses.

]]> 2024-09-26 16:51:21 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3140817434 budget expenses 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142858428 definition: when the government collects more taxes than it spends.


sentence: wow we have a budget surplus this year, what should we spend it on?

]]> 2024-09-27 16:11:24 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142858428 budget deficit 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142864958 definition: when spending exceeds revenue.


sentence: oh no we've come across a budget deficit.

]]> 2024-09-27 16:16:04 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142864958 liquidity 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142872146 definition: the availability of liquid assets to a market or company.


sentence: the banks closed, causing serious liquidity problems for smaller companies.

]]> 2024-09-27 16:21:06 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142872146 FDIC 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142876274 definition: federal deposit insurance corporation.


sentence: I seriously need to call the FDIC.

]]> 2024-09-27 16:24:20 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142876274 credit union 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142882286 definition: a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.


sentence: I need to invest through credit union.

]]> 2024-09-27 16:28:54 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142882286 checking account 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142887181 definition: a banking account where you can make deposits and withdraws.


sentence: I should deposit my paycheck into my checking account.

]]> 2024-09-27 16:32:55 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142887181 ATM 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142892211 definition: a machine that lets you make transactions without a human teller.


sentence: I need to stop at the ATM for some money.

]]> 2024-09-27 16:37:09 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142892211 debit card 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142897031 definition: a card where you have to deposit money to use it.


sentence: a cashapp card is also considered a debit card.

]]> 2024-09-27 16:41:01 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142897031 savings account 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142899651 definition: a deposit account held at a bank or financial institution, allowing customers to save money while earning interest.


sentence: I should invest into my savings.

]]> 2024-09-27 16:43:11 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142899651 money market deposit account 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142902086 definition: a type of bank or credit union savings account with some features not found in regular savings accounts.


sentence: that's a savings account but better. :)

]]> 2024-09-27 16:45:22 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3142902086 APY 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146498963 definition: interest rate earned on an investment in one year, including compounding interest.


sentence: Wow it looks like this year's APY is going up!

]]> 2024-09-30 15:11:33 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146498963 nominal interest rate 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146511901 definition: the interest rate before taking inflation into account.


sentence: The nominal interest rate is often used in banks to describe interest on different loans and in the investment field. For example, if the nominal rate on a loan is 5%, you can expect to pay $50 of interest for $1,000 borrowed. At the year's end, you'll pay $1,050.

]]> 2024-09-30 15:18:39 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146511901 real interest rate 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146516800 definition: The lending interest rate adjusted for inflation as measured by the GDP deflator.


sentence: The real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.

]]> 2024-09-30 15:21:07 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146516800 fee schedule 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146523112 definition: a complete listing of fees used by Medicare to pay doctors or other providers/suppliers.


sentence: This comprehensive listing of fee maximums is used to reimburse a physician and/or other providers on a fee-for-service basis.

]]> 2024-09-30 15:24:24 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146523112 signature card 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146532025 definition: a document that financial institutions use to authenticate a customer's signature for personal and business bank accounts.


sentence: oh no! i lost my bank signature card!

]]> 2024-09-30 15:27:59 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146532025 emergency funds 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146536405 definition: a separate savings or bank account used to cover or offset the expense of an unforeseen situation.


sentence: looks like I have to use some of my emergency funds to pay for this car crash.

]]> 2024-09-30 15:29:54 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146536405 bank statement 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146550052 definition: a document that summarizes the activity on your bank account over a specific time.


sentence: jeez my bank statement is long this time, I need to higher my budget.

]]> 2024-09-30 15:35:54 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146550052 pin 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146556314 definition: a personal identification number that is used to complete a transaction with a bank card.


sentence: I cant remember my pin so ill have to pay in cash.

]]> 2024-09-30 15:38:51 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146556314 overdraft 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146560846 definition: a negative number in your account.


sentence: oh crap I have an overdraft on my bank statement.

]]> 2024-09-30 15:40:37 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146560846 nonsufficient funds fee 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146568564 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: oh crap I'm trying to pay my bills but it says nonsufficient funds.

]]> 2024-09-30 15:44:49 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146568564 fraud 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146573496 definition: crime or theft used for personal gain.


sentence: Mr Williamson, you are being charged with fraud of Tyson's happiness after ruining his favorite TV shows.

]]> 2024-09-30 15:47:07 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146573496 FTC 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146578734 definition: The Federal Trade Commission enforces a variety of antitrust and consumer protection laws.


sentence: money is being transferred out of my bank account, I need to call the FTC.

]]> 2024-09-30 15:49:36 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146578734 identity theft 28batest https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146584148 definition: Identity theft happens when someone takes your name and personal information and uses it without your permission.


sentence: how did I get 5 Netflix subscriptions, I think somebody stole my identity!

]]> 2024-09-30 15:52:32 UTC https://padlet.com/28batest/vg8q33qgwi1mheyk/wish/3146584148