60 Second English Lesson: Money
by Lingoda Team
January 16, 2019

Money talks!

Zach is back with his second lesson which is all about money.

In today’s lesson, Zach will talk about the different words, or phrases, you might hear when you are in a bank or when you have to make a payment.

Deposit

When we have money, we usually deposit it into a bank account.

To deposit means to put something into a bank or a safe.

A Cheque

Often people make payments by card or cash, but sometimes we might need to write cheques.  A cheque is a printed form which you fill in and use as payment.

Overdraft

Sometimes when we spend too much money, we might go into our overdraft.

Usually banks offer an overdraft option with each bank account. This is a set amount of money which the bank has agreed to lend you. You have to pay it back.

A loan – borrowed money

When we want to buy something big, but we don’t have the money for it right away, we might decide to get a loan. A loan is a set amount of money which you borrow from the bank. Like an overdraft, you must pay this back. Loans often come with interest. Meaning you have to pay back more than you borrowed.

To borrow means to take or use something which you have to give or pay back.

Income

You will only be able to get an overdraft or a loan if you have an income.

If you have a job, you earn money and this is your income.

Learn more about money with Lingoda

With Lingoda, you can learn even more useful money related vocabulary, grammar hints and tips, and language skills. You can choose to study English, Business English, German, Spanish, or French.

Find out more today by visiting our website.

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