Friday, Novenber 17th 2023

Topic : Money

1. Verbs and verb phrases used to talk about money

To spend money on something means to use money to pay for it, and
to waste money is to spend money on things that you don’t need.

o I spent $20 on petrol yesterday.

o John wasted all his money on that sports car.

Lend and borrow are two words that are easily confused, but there is a big
difference between them. Borrow means to ask for and take someone else’s
money with the intention of returning it, while lend means to give money to
someone on the condition that they return it.

o I borrowed $200 from my sister. I’ll pay her back when I get paid.
o My sister lent me $200. I’ll pay her back when I get paid.

To pay for something means to give money to a seller in exchange for

products or services, while to pay back means to return money that you
have borrowed.

o Tom paid for the taxi.

o I need to pay Joe back the money I borrowed from him last week.

If something costs a particular amount of money, you can buy it for that
amount. So when something costs €20, it means you need to pay €20 to buy
that item.

o The ring costs €299.

If you charge someone (for something), it means that you ask this person
for money in exchange for goods or services, so if someone charges you €40
for something, that is the amount you need to pay for it.

o The mechanic charged me €50 for fixing my car.

If we save money, we don’t use or waste it. Also, when we save (money), it
means that we gradually collect money by spending less than what we earn
so that we can use it on a future occasion. Your savings are the money you
have saved.
 o I saved a lot of money by booking my tickets online.
o I am trying to save some money for our holiday.

If you can afford to do or buy something, it means that you have enough
money to pay for it. If you can’t afford something, you are unable to do or
buy it because you don’t have enough money.

o I can afford to buy a new phone because I just got paid.

o Sam can’t afford to go on holiday this year.

If an item is worth a particular amount, that is the amount that it is valued

at, so if a car is valued at $20,000, it is worth $20,000.

o The ring is worth over $3,000.

If you withdraw (or take out) money, you take money out of an account,
either by using a cash machine or going to your bank.

o I withdrew money from the cash machine.

2. Nouns used to talk about money

Cash is a word that we use to refer to money in the form of coins or
notes. Coins are flat round pieces of metal that are used as money,
and notes (known as bills in the US) are pieces of paper of different values
also used as money. We say pay in cash.

o I paid for the book in cash.

o I paid for the book with a €5 note and some coins.

A bank account is an arrangement with a bank where the bank looks after a
customer’s money to keep it safe. So, when a customer has a bank account,
they can deposit money into it and withdraw money from it. A deposit is
money that you put into your bank account. We say make a deposit.

o I withdrew €50 from my bank account.

o To open an account, you need to make a minimum deposit of $500.

A wallet is a small case that is used for holding notes and coins. Most
people carry their money around in a wallet. They can also hold credit
cards, which are small, personalised plastic cards that can be used to pay for
things. We say pay by credit card.
 o Although there isn’t any cash in my wallet, there are a few credit
cards.

An cash machine or ATM is a machine fixed into a wall where you can
insert your credit card to withdraw money from your bank account.

o I withdrew €40 from the ATM.

A cheque is a piece of paper from the bank. You write an amount of money
on it and the name of the person who will get the money. We say pay
by cheque.

o I paid for the delivery by cheque.

A loan is when a bank lends you money. You promise to give it back, plus
extra called interest, over time. A mortgage is a special loan for buying a
house or property.

o I took out a loan to buy a new car.

o We wanted to buy a flat, so we took out a mortgage.

A salary is a fixed amount of money given by an employer regularly,

and income is the total money a person earns in a specific time.

o Fred’s salary is just under €20,000 a year.

o Sally’s total annual income is just over €45,000.

An expense is the money that you need to spend in order to do or pay for
something. And your budget is the amount of money that you have
available to spend on something.

o Our holiday budget is €2000; this should cover meals and

other expenses.

A bill is a communication informing you of how much money you need to

pay for goods or services.

o We spend a lot of money on electric bills.

Exercise 1: Vocabulary
1. James took out a _____ to buy a new motorbike.
a.salary b.budget c.wallet d.loan
2. Harry _____ Ken money to buy his girlfriend a present.
a.borrowed b.lent c.spent d.saved
3. The dress _____ €40, so I have just enough money to pay for it.
a.deposits b.withdraws c.costs d.lends
4. I went to the ATM to _____ money.
a.borrow b.spend c.pay d.withdraw
5. They say that the diamond _____ over €5 million.
a.is worth b.can afford c.pays d.borrows
6. I paid for the meal with a €20 _____.
a.coin b.note c.cash d.card
7. I made a €2,000 _____ into my bank account.
a.deposit b.borrow c.withdraw d.loan
8. Nick promised to _____ the money I’d lent him as soon as he could.
a.borrow b.deposit c.pay back d.pay
9. I don’t know many people who _____ a Ferrari.
a.spend b.withdraw c.are worth d.can afford
10. The barber _____ Sam $10 for his haircut.
a.charged b.cost c.spent d.borrowed
II. Listening
Exercise 2. Paul Dugan is a financial advisor. He is giving a seminar to
students in their last year of university. Listen to the first part of the seminar
and tick the thing below that he talks about
Audio Plasay money ◻
keep to a budget ◻
use credit cards ◻
borrow money ◻
earn a good salary ◻
plan for retirement ◻
pay tax on time ◻
invest money ◻
 Exercise 3. Listen again and complete Sara’s notes.
Audio PlayerManaging Money
Important tips:
1 Watch how much you a……………………
– don’t overspend, e.g. if you earn $2000, don’t spend $2500.
– cut back on b…………………… things.
2 Check how much you c……………………
– before you accept a job, compare your d…………………… with similar jobs
in other companies.
– make sure you get paid e……………………
3 Have a f…………………… i.e. a simple financial plan
– g…………………… it. Don’t forget it.
Homework:
Exercise 1: Choose the most suitable option to complete these sentences.
You can use each option ONLY ONCE.
Wallet/ cheque/ can’t afford/ lend/ expenses/ wastes/ loan/ cash/
savings/deposit
1. I found a ……………………. full of money on the street.
2. I wrote out a ……………………… to pay the mechanic.
3. Dan ……………………… to go out this weekend. He doesn't have any
money.
4. Gary …………………… a lot of money on junk food and beer.
5. I would never …………………… money to anyone unless I knew them
well.
6. I was able to pay for the meal in can’t ……………….
7. Sandra’s greatest monthly …………………… are her car and her rent.
8. It will take me a year to pay back the ………………. I got from the bank.
9. As soon as I receive my salary, I’ll make a ……………… into my bank
account.
10.I used money from my ………………… to buy a new bike.
Exercise 2: Choose the correct answer.
1.How many ……………. took part in the 22nd SEA Games?
A. competitors B. competitive C. competes D. competitions
2. The problem of ………… among young people is hard to solve.
A. employment B. employees C. employers D. unemployment
3. The children ……………. high grade at school.
A. achieve B. achievement C. achievable D. achieving
4. His pronunciation causes me a lot of …………….________.
A. difficulties B. difficult C. difficulty D. difficultly
5. Some species of rare animals are in ……………. of extinction.
A. danger B. dangerous C. dangerously D. endanger
6. Electronic music is a kind of music in which sounds are produced
…………….
A. electron B. electric C. electronic D. electronically
7. Are you sure that boys are more ……………. than girls?
A. act B. active C. action D. activity