Finance Vocabulary

A booklet that is used to keep a record of all your checking-related transactions, including checks written and deposits.

• Balance

• Check Register

• Service Charge

• Payment/Debit

The amount of money currently in your checking account.

• Check Register

• Insufficient Funds

• Balance

• Minimum Balance

When you write a check for more money than you have in your account.

• Check Register

• Insufficient Funds

• Balance

• Minimum Balance

The minimum amount of money required in your account. Having an amount less than the minimum balance may result in extra service charges or reduced privileges.

• Transaction

• Insufficient Funds

• Balance

• Minimum Balance

An exchange or transfer of funds; payments and credits within your account are examples of transactions.

• Transaction

• Insufficient Funds

• Balance

• Minimum Balance

Amount of money that is recorded in your check register as an addition to your current balance.

• Deposit / Credit

• Insufficient Funds

• Balance

• Minimum Balance

• Payment / Debit

Expenses that tend to be about the same each month.

• Deposit / Credit

• Variable Expenses

• Balance

• Fixed Expenses

• Payment / Debit

Expenses that tend to fluctuate each month.

• Deposit / Credit

• Variable Expenses

• Balance

• Fixed Expenses

• Payment / Debit

An amount the bank charges (fees) for use of the checking account.

• Transaction

• Variable Expenses

• Balance

• Service Fee

• Payment / Debit

Amount of money that is recorded in your check register as a deduction from your balance.

• Transaction

• Variable Expenses

• Deposit / Credit

• Service Fee

• Payment / Debit