Banking and Budgeting Vocabulary

Front

What is the term for the amount of money in a bank account?

Back

Balance

Front

What do you call money set aside for future use?

Back

Savings

Front

What is a plan for managing income and expenses called?

Back

Budget

Front

What is the special secret password used at the ATM?

Back

Personal Identification Number (PIN)

Front

What do you call the money a person owes a bank for a service?

Back

Fees

Front

What is the term for a financial institution that accepts deposits and provides loans?

Back

Bank

Front

What is the process of tracking income and expenses over time?

Back

Budgeting

Front

What is the term for the interest rate charged by banks for borrowing money?

Back

Loan Interest Rate

Front

What is the term for a written record of all financial transactions?

Back

Ledger

Front

What is the term for the amount of money earned before taxes and deductions?

Back

Gross Income