Vocabulary for Giving, Receiving and Using Money
Bill – An amount of money owed for goods or services. For example, a hotel bill or a gas bill
Expenditure – The action of spending money
Expense – The cost required for something
Fee – A payment made for something. Usually services rather than products. For example, legal fees, and hospital fees.
Income – Money received either from work or investments
Making a payment – The process of paying for something
Mortgage – A legal agreement where a creditor lends money to help people buy property. The money is paid back in instalments and with interest.
Passive income – Money received from investments. Typical work is not required for passive income
Make a profit – The financial gain remaining after the cost of producing or selling something is subtracted from income/revenue
Make a loss – When the cost of producing/selling something is more than the cost received for selling it
Revenue – The money/income received by a business or company for the sale of goods or provision or a service
Salary – A regular payment made from an employer to an employee
To allocate / allocation – To assign or distribute money for a specific purpose
To borrow – To take money from a person or company with the intention of paying it back later.
To earn – To engage in a work-related activity that leads to obtaining money.
To invest – Spend money with the expectation of making a profit. For example, investing in the stock market
To lend – To give someone money on the condition it will be returned
To pay back – To repay a loan
To pay off – To pay a debt
To spend – To pay money for goods or services
To save up / set aside – To accumulate money over time to be used for a specific purpose
To waste – To use money carelessly, inefficiently, or extravagantly
To withdraw – To remove money from a bank account
Wages – A regular payment from an employer to an employee
General Vocabulary for Money and Finance
Afford – Have enough money to pay for something
Bargain – Something that costs less than its normal market value
Broke/ Penniless – To have little or no money
Cost of living – The amount of money it costs to pay life’s expenditures. For example, food, rent, transport etc…
Credit – The ability to obtain goods or services without paying for them immediately.
Deflation – A general reduction in prices within the economy
Discount – A reduction from the usual cost of something
Extravagant – lacking restraint in spending money or something that costs too much money
Frugal – To use money in a simple, economical, or efficient way
Funds/ Funding – The amount of money available for a specific purpose
Inflation – A general increase in prices and drop in the purchasing power of money
Overpriced – Something being sold for more than it should cost
Poor – Lacking the money to live comfortably
Priceless – Something that is so special or unique it is difficult to assign a price
Refund – Money returned for returned goods or unsatisfactory service
Tight/Stingy – To dislike spending money, especially on other people
Wealth distribution – How money is spread between the different parts of society
Wealthy – Having plenty of resources or money
Worthless – Having no real value or use
Financial/Money Collocations
Buy in bulk – To buy something in a large quantity in order to get a discount
Cash injection – An investment into a business, usually made in cash
Clear a debt – Finish paying off a debt
Financial aid – Money borrowed often to pay for school/university / Money sent by one country to another country
Financially dependent – To rely on someone else for money/survival
Financially independent – To not rely on anyone else money/survival
Government funding – Money from the government for a specific purpose. For example, government funding for sports facilities
Increase/Decrease funding – Raise or lower the amount of money available
Manage one’s finances – How a person controls their money
Private funding – Money that comes from individuals rather than banks or financial institutions
Put down a deposit – Make an initial payment to secure the future purchase of something
Run up a debt – To accumulate debt
Tight budget/Shoestring budget – A small amount of money to use for a specific purpose
To increase/boost funding – To make more money available for something
To reduce/cut funding – To make less money available for something