B1 Vocabulary — Money
Key verbs and nouns to talk about spending, saving and managing money in everyday English.
B1 Intermediate
Money & finances
1. Spending & saving money
- spend money on = use money to buy something. I spent €20 on petrol yesterday.
- waste money = spend money on things you don’t really need. He wasted all his money on a sports car.
- save money = not spend money so you can use it later. I’m saving money for a summer holiday.
- savings = the money you have saved. Most of my savings are in the bank.
- can / can’t afford = have (or not have) enough money for something. She can’t afford to buy a new laptop.
- be worth = have a particular value. This watch is worth more than €3,000.
2. Borrow, lend & pay
- borrow (from) = take someone’s money for a time, then give it back. I borrowed €200 from my sister.
- lend (to) = give money to someone so they can pay it back later. My sister lent me €200.
- pay for = give money in exchange for something. Tom paid for the taxi.
- pay back = return money that you borrowed. I’ll pay you back next week.
- cost = the price you must pay for something. The jacket costs €80.
- charge (someone) = ask someone to pay a certain price. The mechanic charged me €50 to fix the car.
3. Cash, cards & bank accounts
- cash = money in the form of coins and notes / bills. I paid for the book in cash.
- coins, notes / bills = metal and paper money. He gave me a €10 note and some coins.
- wallet = small case for keeping cash and cards. There isn’t any cash in my wallet, only cards.
- credit card = plastic card used to pay for things. We usually pay by credit card in restaurants.
- bank account = place in a bank where your money is kept safely. I moved my savings to another bank account.
- make a deposit = put money into a bank account. You need a minimum deposit of $500 to open the account.
4. Taking money out & different payments
- withdraw / take out money = remove money from your bank account. I withdrew €40 from the cash machine.
- cash machine / ATM = machine in a wall where you can get money. There’s an ATM next to the supermarket.
- cheque / check = printed paper from the bank used to pay someone. We paid by cheque for the delivery.
- pay in cash, pay by credit card = common payment phrases. You can pay in cash or by card.
5. Loans, income & expenses
- loan = money a bank lends you that you must pay back with interest. I took out a loan to buy a new car.
- mortgage = a long-term loan to buy a house or flat. They needed a mortgage to buy their first home.
- salary = fixed money you receive regularly from your job. Her salary is about €2,000 a month.
- income = all the money you earn in a period of time. Their total yearly income is quite high.
- expense = money you need to spend on something. Travel and food are our main expenses.
- budget = the maximum amount of money you plan to spend. Our holiday budget is €2,000.
- bill = document or message that tells you how much you must pay. The electricity bill was very high last month.
Tip: learn money phrases as chunks (for example, pay in cash, pay by card, take out a loan). This will help you sound more natural when you talk about money.
Exercises:
Money
Choose the correct option to complete each sentence below.
1
I try to
things I really need, like food and rent.
Correct:
You spend money on normal things you buy.
2
Buying expensive clothes I never wear is a way to
.
Correct:
If you spend money in a stupid or unnecessary way, you waste money.
3
If you don’t have enough cash, you can
some money from a friend and give it back later.
Correct:
When you take money from someone to give back later, you borrow it.
4
If I have extra money, I sometimes
some to my brother, and he pays me back later.
Correct:
When you give money to someone so they can give it back later, you lend it.
5
At the restaurant, who will
the meal?
Correct:
You pay for a meal, a ticket, a room, etc.
6
Thanks for the loan. I’ll
the money I owe you next Friday.
Correct:
When you return money you borrowed, you pay back the money.
7
A new phone can
a lot of money these days.
Correct:
The verb for “have a price” is cost.
8
The hotel will
you extra for breakfast.
Correct:
A shop or hotel can charge you money for something.
9
I try to
every month for my holiday.
Correct:
When you keep money and don’t spend it, you save money.
10
He took some money from his
to buy a new car.
Correct:
The money you have saved over time is your savings.
11
I’d like that expensive watch, but I
it right now.
Correct:
If something is too expensive for you, you can’t afford it.
12
This painting
a lot of money; it’s by a famous artist.
Correct:
We say something is worth a certain amount of money.
13
I went to the bank to
from my account for the rent.
Correct:
When you take money out of your bank account, you withdraw money.
14
When I need cash quickly, I go to the cash machine to
.
Correct:
Informally we often say take out money from a cash machine.
15
You can pay by card or you can pay in
.
Correct:
Money in coins or notes that you hold in your hand is cash.
16
I only have small metal
in my pocket, no paper money.
Correct:
Metal money is called coins.
17
In many countries, paper money is called
.
Correct:
Paper money is notes / bills.
18
I keep most of my money in a
at my local bank.
Correct:
The place where the bank keeps your money is your bank account.
19
I went to the bank to put money into my account; I made a
of 300 dollars.
Correct:
When you put money into an account, you make a deposit.
20
He keeps his cash and cards in his leather
in his pocket.
Correct:
A small case for money and cards is a wallet.
21
I don’t have any cash, so I’ll pay with my
.
Correct:
A plastic card from a bank that you use to pay is a credit card.
22
You can get cash 24 hours a day from a
in the street.
Correct:
A machine that gives you money from your account is a cash machine / ATM.
23
My grandmother still pays by
, not by card.
Correct:
A piece of paper from your bank that you sign to pay is a cheque / check.
24
We needed money to buy a car, so we took a bank
and will pay it back over five years.
Correct:
Money you borrow from a bank and pay back later is a loan.
25
They are still paying the bank every month for their house; they have a big
.
Correct:
A special long-term loan to buy a house is a mortgage.
26
I get my
at the end of every month from my company.
Correct:
Money you get from your job every month is your salary.
27
Her
includes her salary and the money she gets from her online shop.
Correct:
All the money you receive is your income.
28
Rent is our biggest monthly
.
Correct:
Something you have to pay for regularly is an expense.
29
We wrote a monthly
to see how much we can spend and how much we can save.
Correct:
A plan for how you will spend your money is a budget.
30
After dinner at the restaurant, we asked the waiter for the
.
Correct:
The piece of paper that shows how much you must pay is the bill.
31
If you don’t pay your credit card on time, you pay a lot of
to the bank.
Correct:
The extra money you pay on a loan or credit card is called interest.
Money
Match the sentences with the money words
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