Money Vocabulary

Giving YOU the chance to SPEAK • Real British English • IELTS & Conversation

I recently left Lviv for the academic year, and unfortunately I was fined on my way out because I had (accidently) overstayed my legal time allowed in the country...

Before I head back to England for my regular teaching work in my hometown, I decided to take a bit of a holiday. I've already been to 4 different countries, and that means I've already been spending 4 different currencies. It usually takes a few days to get accustomed to the new currency, the prices, and how much I should really be paying for a Coca-Cola....

I managed to save up during the last 7 months to take this holiday which will let my wallet see 5 different country's notes and coins. I keep any left over currency and withdraw new money from a cash machine when I get to the new country. You usually get a better rate withdrawing from a cash point, but an annoying bank charge. Unlike rates, one thing that is certain is after this trip, I will be skint, and I will wince when I look at my bank statement or check my balance, but I'll be richer in memories and culture... blablabla ;)

I like you, no doubt, spend more money when on holiday and at the end of the day my pockets are usually full of receipts. The bulk of my money goes on eating out (surprise surprise) I'm not a frugal traveller when it comes to food, but I do shop around when I go to buy any electronics or clothing.

Luckily, I get to top up each summer when I go home and work for an international college. I get paid an hourly rate and get my wages on the penultimate Friday of each month. It's always nice to get your payslip/wage slip a few days before to see how much will be paid into your account.

The other teachers there are salaried, so they get paid the same wages each month regardless of their hours unless they do overtime. Most people prefer to be salaried because it gives them a stable income which allows them to get mortgages, and loans.

OK, I have to love you and leave you, it's time for me to go out and watch tonight's big football match and spend some more HUF....... I wonder if I will have enough left over to leave a tip.

Discussion Questions

Have you ever been fined for something?
Which note is your favourite from your currency?
Do you live near a cash machine?
Are you a frugal traveller?
Do you get paid an hourly rate or are you salaried?
Do you always have money left over after you go on holiday?
Do you have a stable enough income for the bank to give you a mortgage?
Do you always leave a tip at a restaurant?

Cheers
Native UK – English Conversation Lessons

Key Vocabulary

fine / to fine – money you must pay when you do something wrong. Example: I was fined for overstaying.

currency – money of a country. Example: The local currency is the euro.

accustomed to – to feel comfortable with something. Example: It takes time to get accustomed to prices.

save up – save money for a purpose. Example: I saved up for a holiday.

wallet – a thing men keep their money in. Women use a purse. Example: My wallet is empty.

notes – paper money. Example: Do you have any small notes?

withdraw – take money out of a cash machine. Example: I need to withdraw some cash.

left over – money that is unspent. Example: I had some money left over.

cash machine / cashpoint – an ATM. Example: There’s a cashpoint near the station.

bank charge – a fee your bank takes. Example: I was charged a bank fee.

rate – the exchange rate. Example: £1 equals $1.25.

skint – having no money. Example: I’m skint until payday.

wince – to look with pain. Example: I winced at the price.

statement – a detailed history of payments and withdrawals. Example: Check your bank statement.

check your balance – see how much money you have. Example: I checked my balance on the app.

receipt – a piece of paper showing you paid. Example: Keep the receipt.

the bulk of – a very big part. Example: The bulk of my money goes on rent.

frugal – careful with money. Example: She’s a frugal traveller.

top up – add money to something. Example: I topped up my card.

shop around – look for the best price. Example: Always shop around.

hourly rate – money paid per hour. Example: My hourly rate is £15.

wages – money you get every week or month. Example: My wages come in on Friday.

wage slip / payslip – a document showing your pay. Example: I got my payslip.

pay in – to transfer money to an account. Example: The money was paid in yesterday.

to be salaried – paid a set amount each month. Example: She’s salaried.

overtime – extra hours paid above your contract. Example: I did overtime.

income – total money you earn. Example: My income is stable.

mortgage – a loan to buy property. Example: We have a mortgage.

loan – money you borrow and pay back. Example: The bank gave me a loan.

tip – money you leave for a waiter or waitress. Example: I always leave a tip.

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