MONEY MANAGEMENT VOCABULARY

Budget: an estimate of income and spending for a certain period of time. Budget: an estimate of income and spending for a certain period of time. Checking account: an account at a bank against which checks can be drawn by an account depositor. Checking account: an account at a bank against which checks can be drawn by an account depositor. Savings account: a bank account that earns interest. Savings account: a bank account that earns interest. Checkbook register: a personal record of your checking account. (This is a backup even if you trust your bank. You can use a paper register or do it electronically.) Checkbook register: a personal record of your checking account. (This is a backup even if you trust your bank. You can use a paper register or do it electronically.)

Checkbook: contains checkbook register and checks. Checkbook: contains checkbook register and checks. Payment: the sum of money paid. Payment: the sum of money paid. Deposit: putting money into a bank account. Deposit: putting money into a bank account. Withdrawal: taking money out of a bank account. Withdrawal: taking money out of a bank account.

A check: an official document used to write an amount owed to a person or company. A check: an official document used to write an amount owed to a person or company. Deposit Slip: document which states checks and money added to an account. Deposit Slip: document which states checks and money added to an account. Fixed Expense: expenses that stay the same every month/payment. Fixed Expense: expenses that stay the same every month/payment. Variable Expense: payment that changes every payment. Variable Expense: payment that changes every payment. Balance: the total amount of money in a checking or savings account. Balance: the total amount of money in a checking or savings account.

Signature: Signature: a person's name written in a distinctive way as a form of identification in authorizing a check. Needs: things you cannot live without (shelter, food, etc.) Wants: things you desire but could live without. Interest: money paid regularly at a particular rate for the use of money lent Invest: spending money with the expectation of later achieving a profit from it.