English Vocabulary - How to talk about money

Hi, my name is Rebecca and in today's lesson we're going to be talking about money, a subject

which is obviously very popular and we have a number of words which we use, a number of

verbs which we use when we talk about money.

Let's discuss ten of these, ok?

So let's start over here.

What can you do with money?

These are ten different activities that you can do with money.

You could deposit the money in the bank, which means to put your money in the bank, to deposit

your money.

You could take your money out of the bank.

For that we say, withdraw your money.

I can withdraw my money.

You could transfer it, that means move it from one place to another place.

I transferred my money from my checking account to my savings account.

Now I use the past tense.

We'll go back and use the past tense afterwards for all of them, ok?

You can save your money, which is of course a very good idea if you're able to do that.

You can borrow money.

If you don't have enough money, sometimes you have to borrow money from a friend or

from the bank.

If you borrow money, that means you take it temporarily with the intention, with the plan

of giving it back, then you borrow it and whoever gave it to you temporarily, they are

lending it to you.

So you could say, the bank lends money, customers borrow money, alright?

If you borrow money from the bank, let's say, then you owe money, OWE.

It means that you have a debt to the bank and you need to return that money to the bank,

usually plus some interest, some extra amount that you need to pay in order to have the

right to borrow it.

So you owe money to the bank.

Of course, we all know how to spend our money, alright?

When you go shopping, you spend your money.

If you spend too much money on something, we could say, you wasted your money.

That means you didn't need to spend that much money for something, then we say, he wasted

his money.

Of course, you could be a little bit wiser or if you are in a position where you have

extra money, you could decide to invest your money.

Invest your money in a business, invest your money in the stock market, and so on, ok?

So here are ten words that you can use when you are talking about this important subject

of money.

Let's review them again and let's use the past tense form this time.

I deposited the check, I withdrew $500, I transferred $1,000 from my checking account

to my savings account, I saved $1,000 this month, I borrowed $10 from my friend, the

bank lent me money as a down payment on my house, they lent me, L-E-N-T, he owed the

bank a lot of money, he spent a lot of money, he wasted a lot of money on that television,

let's say, or he invested in the stock market, we invested in the stock market.

As you can see, some of these are regular verbs where we added -ed or -d, and some are

irregular verbs where we had to change the ending of the verb to form the past tense

form.

Alright?

One last point about this word, withdraw.

In North America, we say "withdraw" and in England, in British English, they say just

"draw".

So, they say "I drew some money from the bank" and in North America, we say "I withdrew some

money from the bank".

Okay?

So, now I hope you have 10 new words and perhaps 20 along with the past tense form to describe

various activities regarding money.

If you have any questions about this lesson or if you'd like to do a little quiz about

this lesson, please visit our website at www.engvid.com.

Thanks very much.

Bye for now.