Vocabulary
- automatic, automated: operating by itself
- balance: the resulting amount after charges and payments
- budget: a statement of expected income and expenses
- credit rating: your reputation for paying bills on time
- debit card: a piece of plastic issued by the bank which allows you to pay for purchases directly from a checking account without using a check
- deposit: place in a bank
- expenses: costs
- income: money received from work or other sources
- interest: payment for the use of money
- investment: money put to use for profit
- line of credit: an arrangement to borrow money up to a set amount
- manage, management, managing: control, direct
- teller: bank clerk
- traveler's checks: checks purchased for use on trips which can be replaced if lost
Activities
- Visit two banks and pick up brochures telling about the fees for checking accounts. Which bank has the lowest fees?
- Talk to two other people about banking. Find out what bank they use and how they like the services and fees of the bank.
- Look in the brochure of the local community college for classes on financial planning or financial management. What is taught in the class?
- Look up Consumer Credit Counseling in the phonebook. Find out what services they offer.
- Look up books on financial management and budgeting in the public library. What did you find?
These Vocabulary and Activity Lists are taken from Chapter 4 of Community Life in the USA Book 2. Copyright 1997, Federal Way Branch, American Association of University Women.
Federal Way ESL Project
PO Box 24494
Federal Way, WA 98093.