Unit 3 and 4 Vocabulary

Front

What is a 'Deposit'?

Back

An amount of money you put into your bank account.

Front

What is a 'Check Register'?

Back

A place to keep a record of all the deposits and payments made from your checking account.

Front

What is a budget?

Back

A plan for how to spend money.

Front

What is the definition of 'Expenditure'?

Back

An amount of money you spend.

Front

Why is it important to track your expenses?

Back

To make sure you don't spend more than you have.

Front

What is a 'Withdrawal'?

Back

An amount of money you take out of your bank account.

Front

What does 'Income' refer to?

Back

The money received, especially on a regular basis, for work or through investments.

Front

What is 'Savings'?

Back

Money that is set aside for future use.

Front

What is the purpose of a 'Bank Statement'?

Back

A summary of all transactions in a bank account over a specific period.

Front

What is 'Interest'?

Back

The cost of borrowing money or the earnings from saving money.