“The more you learn, the more you earn.”

Warren Buffett, an American business magnate

In “Money Vocabulary” we focused on common money collocations, idioms and proverbs. In this article, we’ll add other useful expressions about money and provide you with exercises to practice the vocabulary, so read on…

Tips for saving money

Lucy: You can’t build any savings as long as you have debts to pay down. So, get out of debt as fast as you can, and then you’ll be ready to put away part of your income into savings or investments.

Cut back on spending, but be realistic – you can’t always say no to everything that brings you joy, like going out with friends. But keep your eye on the prize – the goal you are trying to achieve. What are you saving money for? A trip, a new car, an apartment of your own? Whatever that is, make sure the goal is well defined. Then avoid money wasters like eating all your meals out, try to earn some money on the side, and don’t splurge on anything extravagant (do you really need to spend your hard-earned cash on another flashy gadget?). Living on a budget can seem tough, but if you change your habits a little and spend a bit more wisely, it won’t even feel that way.

• to build savings = to amass savings
• to pay down debts = to pay off/back debts (related: “Pay, Pay off or Pay Out?”)
• to cut back on spending = to spend less money
• to keep your eyes on the prize – to remain focused on a goal
• money waster – something that is not worth buying; if you do buy it, you waste your money
• to earn money on the side – to earn extra money doing something other than your main job
• to splurge on something – to spend a lot of money on something expensive
• hard-earned money – money that took a lot of effort to earn
• on a budget – with a restricted amount of money

Pick your occupation wisely

Jim: Most people want to be rich, but only few of us make a whopping amount. Still, what we consider a boatload of money depends on where we live as well as our lifestyle.

Having money means access to a lot of good things and experiences, so no wonder most of us dream of riding the gravy train. But money is not everything, is it? Imagine you top out at 200,000$ a year but hate your job with every fiber of your being. Is the income worth it then? So rather than choosing the most lucrative field, why not think about what you are cut out for, what makes you happy and what is meaningful to you? Not every job will make your money mount, but if you really enjoy what you do, amazing things happen, and you might get opportunities you can’t even dream about now. Even more importantly, you’ll feel like a winner every day.

• a whopping amount of money – a very large amount of money
• a boatload of money – a whopping amount of money
• to ride the gravy train – to live in ease or luxury
• to top out at (an amount) – to be able to get the highest possible salary
• with every fiber of my being – with all my effort/desire
• lucrative = profitable
• to be cut out for something – to be naturally suited to do something
• to mount (of money) – to be amassed

Perpetually broke

Tom: I never seem to have a cent to my name. I’ve been trying to set aside some cash to have a cushion to help me out if my car breaks down, for example. But every time I manage to spare some money, I feel an urge to buy something I really could live without. That’s impulsive buying, and I just can’t beat it. Perhaps, I should try to pursue a more lucrative career to be able to afford more, but I’m not sure that would solve the problem. That would increase my purchasing power, but I’d still be a shopaholic. I guess I’ll reach out for help.

• to not have a cent to one’s name – to be broke (in British English, penny is used instead of cent)
• to set aside money – to save money
• cushion – something providing support or protection against impact
• impulsive buying – making unplanned purchases

Practice

Click the link here and choose the right word to complete the sentences.

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