Money & Personal Finance Flashcards
Financial literacy
The confident understanding of concepts including saving, investing and debt.
Vocabulary
A budget (n) I make a monthly budget. I live on a budget of USD 500 per month. I have gone/been over/under budget. Out of my budget
To budget (v) - to allocate money for something I need to budget for a new kitchen this year.
Budget (adj) - cheap, economical
We have booked a budget hotel.
To save (for retirement) 1) to keep money To save up I’m saving up to buy a new laptop. 2) to spend less If you buy in bulk (buy a lot at one time) you save money.
To invest (in gold)
I like to invest in stocks and shares.
I invest a lot of time and energy in learning English.
Investment (n) count. Or uncount.
An investor
To earn/make money
Have a salary (monthly payment) Have wages (weekly payment)
Finance unct. Financial (adj) Planning Security Freedom Literacy
Some things to consider
High risk low risk
Long-term short-term
Volatile stable
Only invest money you can afford to lose.
Which is the best investment and why?
Take calculated risks
Manage the risk well
Balance high risk and low risk investments
Get a good return on your investment
Once bitten, twice shy!
What is the best investment?
Works of art Cryptocurrencies Stocks Gold Savings account Real estate (property/houses)
Idioms
To be on a shoestring budget - with little money to spend
Be on a tight budget
To tighten your belt - to be careful with spending money
We don’t have much money, so we have tighten our belts this month.
To make ends meet - to cope, survive financially
It’s hard to make ends meet at the end of the month.
To be hard up - to have little money (temporarily)
I’m hard up at the moment and can’t afford to go to the pub.
To be broke - have no money left
To get by - to cope, survive
I can get by until my next pay cheque.
A juggling act - something that is difficult to balance
Controlling monthly budgets is a juggling act.
