Understanding and using vocabulary related to money is essential for navigating financial matters in everyday life.
Let’s explore key terms associated with various aspects of money.
Money vocabulary:
- Currency: The system of money in general use in a particular country.
- Cash: Physical currency, such as banknotes and coins.
- Coin: A flat, typically round piece of metal with an official stamp, used as money.
- Banknote: A type of negotiable promissory note, issued by a bank, payable to the bearer on demand.
- Wallet: A small, flat pocket-sized case for holding money, cards, and other personal items.
- Credit Card: A plastic card issued by a bank, allowing the holder to make purchases on credit.
- Debit Card: A card linked to a bank account, used to make electronic transactions and withdraw cash.
- ATM (Automated Teller Machine): An electronic banking outlet that allows customers to complete basic transactions without the aid of a bank teller.
- Check/Cheque: A written order to a bank to pay a specified sum to the person named on it.
- Bank Transfer: Electronic transfer of funds from one bank account to another.
- Interest: A fee charged by a lender to a borrower for the use of money.
- Investment: The action or process of investing money for profit or material result.
- Income: Money received, especially on a regular basis, for work or through investments.
- Budget: An estimate of income and expenditure for a set period of time.
- Savings: Money that is saved or set aside for future use.
- Loan: A sum of money borrowed from a financial institution or another person.
- Mortgage: A specific type of loan for the purpose of purchasing real estate.
- Credit Score: A numerical representation of an individual’s creditworthiness.
- Inflation: The rate at which the general level of prices for goods and services is rising.
- Cryptocurrency: Digital or virtual currencies that use cryptography for security and operate on decentralized networks.
By familiarizing yourself with these money-related terms, you’ll enhance your ability to manage your finances effectively and engage in meaningful conversations about economic matters. Incorporate these words into your daily discussions to reinforce your understanding and language skills. Stay tuned for more vocabulary lessons on our language-learning journey!
