VOCABULARY Money

Lump sum

An amount of money that is paid at one time and not on separate occasions.

Jack's broke again.

I'm not surprised. He spends money like water.

Hard up

(informal) having very little money, especially for a short period of time. e.g. After he lost his job he was so hard up he couldn't afford the price of a beer.

Peniless

(literary) having no money, very poor. e.g. She arrived in 1978 as a virtually penniless refugee.

Well-off

(often used in negative sentences) rich. e.g. His parents are not very well-off.

Affluent

(rather formal) rich and with a good standard of living. e.g. The affluent Western countries are better equipped to face the problems of global warming.

Will

A legal document that says what is to happen to sb's money and property after they die.

We live in a consumer society, which is dominated by spending money and buying material possessions.

A society where buying and selling material goods is considered very important.

Deposit

A sum of money that is given as the first part of a larger payment.

Grant

A sum of money that is given by the government or another organization to be used for a particular purpose, e.g. education.

Fine

A sum of money that must be paid as punishment for breaking a law or a rule.

Our currency is unstable and exchange rates fluctuate a lot.

Currency = the system of money that a country uses. Exchange rate = the amount of money you get when you change one currency into another.

Rich / wealthy

Having a lot of money, property or valuable possessions.

Poor

Having very little money; not having enough money for basic needs.

Dan has bought two sports cars.

He's got more money than sense

I have an overdraft at the bank.

I'm in the red (opp in the black).

A lot of people are in debt, and have problems paying their mortgages.

In debt = Owing money. Mortgage = money lent by a bank to buy a house.

People's income has gone up, but inflation is high, so the cost of living has also risen.

Income = the money sb receives for their work. Inflation = the rise in the price of goods and services which result in a fall in the value of money. Cost of living = the amount of money you need to spend to cover the basic necessities, e.g. rent, food, transport, etc.

They've got a ten-bedroomed house.

It must have cost a fortune.

That restaurant has good food at reasonable price.

It's good value for money.

Loan

Money that a bank lends and somebody borrows.

Donation

Money that you give to an organization such as charity in order to help them.

Savings

Money that you keep in a bank and don't spend.

Do you think Mark will lend me the money?

No way. He's really tight-fisted

House prices are rising and many young people can't afford to buy somewhere to live.

Not having enough money.

Instalment

One of a number of payments that are paid regularly until sth has been paid for.

Some people make money by buying and selling shares on the stock market.

Shares = Units of equal value into which a company is divided and sold to raise money. Stock market = the business of buying and selling shares and the place where this happens (also called the stock exchange).

The standard of living has risen a lot over the last ten years.

The amount of money and level of comfort that a particular person or group has.

Charge

The amount of money sb asks for goods and services, etc.

Overdraft

The amount of money that you owe to a bank when you have spent more than is in your bank account.

Budget

The money that is available to a person or organization.

Fare

The money you pay to travel by bus, plane, taxi, etc.

People who have mortgages or loans have to pay high interests rates.

The percentage of extra money that you have to pay back when you borrow money from a bank.

Their income doesn't cover their basic expenses.

They can't make ends meet.

They have a luxurious lifestyle which they can't really afford.

They're living beyond their means.

Broke

[not before noun] (informal) having no money e.g. I'm always broke by the end of the month.

Loaded

[not before noun] (very informal) very rich. e.g. Let her pay. She's loaded.

Fees

an amount of money you pay for professional advice or services, e.g. to a lawyer or architect.