Budget & Income Vocabulary - 8th Grade

Bank

• A for-profit institution that offers personal loans, mortgages, and other services.

• A not-for-profit cooperative that offers bank services and is owned by its members.

• A business that provides money-related services.

• A fee received or paid for the use of money.

Credit Union

• A for-profit institution that offers personal loans, mortgages, and other services.

• A not-for-profit cooperative that offers bank services and is owned by its members.

• A business that provides money-related services.

• A fee received or paid for the use of money.

Financial Institution

• A for-profit institution that offers personal loans, mortgages, and other services.

• A not-for-profit cooperative that offers bank services and is owned by its members.

• A business that provides money-related services.

• A fee received or paid for the use of money.

Interest

• A Web-only bank.

• A not-for-profit cooperative that offers bank services and is owned by its members.

• A business that provides money-related services.

• A fee received or paid for the use of money.

Internet Bank

• A Web-only bank.

• A wireless service that allows financial transactions by using an app or Web browser from a mobile device.

• A business that provides money-related services.

• A fee received or paid for the use of money.

Mobile Banking

• A Web-only bank.

• A wireless service that allows financial transactions by using an app or Web browser from a mobile device.

• An electronic way to view account activity and pay bills via the Internet and an institution’s website.

• A fee received or paid for the use of money.

Online Banking

• A Web-only bank.

• A wireless service that allows financial transactions by using an app or Web browser from a mobile device.

• An electronic way to view account activity and pay bills via the Internet and an institution’s website.

• A fee received or paid for the use of money.

Cash

• Money in the form of bills or coins.

• A written order for a bank to pay money.

• An electronic way to view account activity and pay bills via the Internet and an institution’s website.

• A fee received or paid for the use of money.

Check

• Money in the form of bills or coins.

• A written order for a bank to pay money.

• A card that looks like a credit card but operates like cash; money is immediately subtracted from the cardholder’s bank account when a purchase is made.

• A card authorizing the holder to buy goods and services that can be paid for later.

Credit Card

• Money in the form of bills or coins.

• A written order for a bank to pay money.

• A card that looks like a credit card but operates like cash; money is immediately subtracted from the cardholder’s bank account when a purchase is made.

• A card authorizing the holder to buy goods and services that can be paid for later.