Tips and Tools For Financial Success - Newton Free Library

Banking Terms and Definitions
Checkbook register
Balance your
Checkbook
Thrifty
Receipt
Budget
APR
ATM
Your personal record of all transactions, where you write down money coming
in and going out of your account
Calculate how much money you should have in your bank account, comparing
your register with the statement from the bank
Always looking for a less expensive way to do things
A piece of paper which shows when, where, how much you paid and what you
bought. To return something, you need the receipt.
A plan that includes how much money you earn, and what you need to spend.
The purpose of a budget is to save money and stay out of debt.
Annual percentage rate. The APR tells you the total cost of borrowing.
Automated teller machine. You can save fees by using the ATMs from your
bank when you withdraw money.
Word Groups
The word CREDIT has many meanings in English. Look at these sentences to understand the different
meanings.
Roger paid too much on his electricity bill in October, so now he has a credit of $10. This means he can
pay $10 less than what he owes in November.
The bank officer told Bob that he had bad credit, because after Bob lost his job he often wrote checks
that bounced when there wasn’t enough money in his account to cover them. His sister Anne is able to
pay her bills on time and has good credit. If Anne needs to borrow money, she will pay a lower interest
rate than Bob.
Banks are more ready to lend money to people who have a regular income and pay their bills on time.
These people are credit-worthy.
My neighbor Mrs. Miller suggested that I apply for a job at the pharmacy; so I should give her credit for
her helpful suggestion. I showed my appreciation to Mrs. Miller by writing a short thank you note.
Sarah always works hard and does an excellent job. She is a credit to her family, and her parents are
very proud of her.
Harry asked the teacher if he could do another paper for extra credit, because he wanted to improve
his English grade. His teacher said extra work could help move Harry’s grade from a C+ to a B-.
To complete her college degree, Karen needs 28 more course credit hours.
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