Words related to money Flashcards
(35 cards)
SALARY
The money you’re paid for working.
E.g The government has decided to increase salaries for all civil servants.
ALLOWANCE
Money that you’re given by someone, for example, your parents.
E.g I couldn’t have managed at college if I hadn’t had an allowance from my parents.
PROFIT
Money that you get from selling something for more than it cost you to buy or produce.
E.g It’s very hard for a new business to make a profit in its first year.
INVESTMENT
The money that you put in a bank, business, etc. in order to make a profit.
E.g This bank account requires a minimum investment of £1,000.
INCOME
The money that you regularly get, for example from your job.
E.g Many families are on low incomes.
BUDGET
A plan that shows how much money you have and how you will spend it.
E.g I need to budget hard if I want to go on a holiday.
ON LOAN
When we borrow money, This means that at some point the money will have to be paid back. Anything that we are currently using but will have to pay back in the future is considered to be on loan.
E.g I got the money for my iPhone on loan from my dad.
MONEY BURNS A HOLE IN SOMEONE’S POCKET
An expression decribing someone who spends money as soon as it is earned.
E.g When she’s at the mall, money just burns a whole in her pocket.
RESALE VALUE
The ‘resale value’ of something is the amount of money we can get if we sell it again.
E.g Rolex watches have a high resale value.
BUDGET
The word ‘budget’ is a verb. It means to plan how much money we will spend each day, week, month or year.
E.g My budget is small while I’m at school.
OWE
To need to pay or give something to someone because they have lent money to you, or in exchange for something they have done for you.
E.g I owe you a drink for helping me move.
LOAN
An amount of money that is borrowed, often from a bank, and has to be paid back, usually together with an extra amount of money that you have to pay as a charge for borrowing.
E.g She’s trying to get a $50,000 loan to start her own business.
DEBT
Something, especially money, that is owed to someone else, or the state of owing something.
E.g The company is deep in debt.
AMOUNT
A quantity of money.
E.g She was so disappointed with the service she refused to pay the full amount.
NOTE
A piece of paper money.
E.g A €20 note.
RECEIPTS
The amount of money received during a particular period by a business or government.
E.g Tax receipts.
CREDIT
An arrangement that you make, with a shop for example, to pay later for something you buy.
E.g He’s a bad credit risk (= he is unlikely to pay the money later).
RENT
A fixed amount of money that you pay regularly for the use of a room, house, car, television, etc. that someone else owns.
E.g Rents here are ridiculously high/low.
INTEREST
Money that you earn from keeping your money in an account in a bank or other financial organization.
E.g You should put the money in a savings account where it will earn interest.
LEND
To give something to someone for a short period of time, expecting it to be given back.
E.g She doesn’t like lending her books.
ECONOMIZE
To try to save money by reducing the amount that you are spending.
E.g You could economize on food by not eating in restaurants all the time.
AFFORD
To have enough money or time to buy, keep, or do something.
E.g I don’t know how he can afford a new car.
SPEND
To give money as a payment for something.
E.g We spent a fortune when we were in New York.
CHEQUE
A printed form, used instead of money, to make payments from your bank account.
E.g I wrote him a cheque for £50.
