Every now and then, we find ourselves in a situation where we need to talk about money, don’t we? And it’s only natural that there are quite a few English expressions that come in very handy in this sort of context – those describing financial hardship and prosperity, paying bills, wasting money, and, on the other hand, spending less. In today’s post, we’ll delve into these idioms and prepare you to use them to describe your financial situation in the current economic climate.

Talking About Money in a Difficult Economy

1. to cost an arm and a leg – to be very expensive
2. to tighten one’s belt – to spend less money
3. to make ends meet – to have enough money to cover expenses
4. to throw money down the drain – to waste money
5. a penny saved is a penny earned = saving money is as valuable as earning it (related: “Money Sayings”)

*Other Useful Vocabulary

1. to cut back on something – to reduce the amount you spend, use or do: 1) I’m trying to cut back on eating out. 2) She’s decided to cut back on coffee to save money. 3) The company is cutting back on expenses because profits are down.
2. to put money aside – to save money for future use, rather than spend it immediately: I try to put some money aside every month.
3. to be left over – to remain after everything else has been used, spent, or taken: 1) I didn’t have much money left over after paying my bills. 2) There’s plenty of food left over, so you don’t need to cook. 3) I had 20 minutes left over after finishing the assignment.
4. to live beyond one’s means – to spend more money than you can afford: He’s living beyond his means and constantly getting into debt.
5. to add up – to gradually increase to a significant total, especially when referring to small amounts: Small expenses can really add up over time.
6. to make every penny count – to use your money very carefully and avoid wasting it: Money is tight at the moment, so we’re making every penny count.

More Idioms

Idiom	Meaning	Example
to bring home the bacon	to earn money to support yourself or your family	She works two jobs to bring home the bacon.
to put your money where your mouth is	to support what you say by actually taking action, especially by spending or risking your own money	You say this is a great investment. Now put your money where your mouth is.
to pay through the nose	to pay an excessively high price for something	We had to pay through the nose for a hotel room during the holidays.
money pit	something that constantly requires a lot of money to maintain or repair	That old house is a real money pit.
to break the bank	to cost so much money that you cannot afford it (often used negatively or jokingly)	The meal was surprisingly affordable and didn’t break the bank.
to live from hand to mouth	to have barely enough money or food to meet your basic needs	After losing his job, he was living from hand to mouth.
in the red	to be losing money or to be in debt	The company has been in the red for several months, and many employees are really worried.
in the black	to be making money, to be financially healthy	The business finally got back in the black this year.
cash cow	a product, business, or activity that regularly generates a lot of money	The company’s mobile app has become a real cash cow.
loaded	very rich	His family is loaded, so he never really has to worry about money.
to strike it rich	to suddenly become very wealthy, usually through luck or a successful opportunity	He bought a lottery ticket hoping to strike it rich.
to have money to burn	to have more money than you need, so you can spend it freely	I don’t have money to burn, so I’m going to wait for the sale.
to roll in dough	very rich (more playful than loaded)	After selling his company, he’s rolling in dough.
to be born with a silver spoon in one’s mouth	to be born into a wealthy or privileged family	He was born with a silver spoon in his mouth and never had to worry about money.
dirt cheap	extremely cheap	I got this jacket dirt cheap at a secondhand store.
to go Dutch	(for each person in a group, especially a couple) to pay for their own share of a meal or activity	We’re both students, so we usually go Dutch when we eat out.
to foot the bill	to pay for something, especially something expensive or something that benefits other people	The company will foot the bill for our business trip.
to pick up the tab	to pay the bill (particularly common for a restaurant or a bar bill)	Don’t worry about the check. I’ll pick up the tab.

Practice

Exercise 1. Click the link here and fill in the blacks with the right idioms.

Exercise 2. Replace the words in bold with an appropriate idiom.

1. The new car is extremely expensive.
   → The new car ___.
2. We need to reduce our spending this month.
   → We need to ___.
3. I’m struggling to have enough money to cover all my expenses.
   → I’m struggling to ___.
4. He wastes money on things he never uses.
   → He ___.
5. The business is losing money.
   → The business ___.
6. The business is making a profit.
   → The business ___.
7. They each paid for their own meal.
   → They ___.
8. My parents paid for the entire trip.
   → My parents ___.
9. I’ll pay the restaurant bill.
   → I’ll ___.
10. She became rich unexpectedly after selling her company.
    → She ___.
11. He has a huge amount of money.
    → He ___.
12. We bought the furniture very cheaply.
    → We bought the furniture ___.

Answer key 🔑

1. The new car costs an arm and a leg.
2. We need to tighten our belts this month.
3. I’m struggling to make ends meet.
4. He throws money down the drain.
5. The business is in the red.
6. The business is in the black.
7. They went Dutch.
8. My parents footed the bill.
9. I’ll pick up the tab.
10. She struck it rich.
11. He is loaded / is rolling in dough.
12. We bought the furniture dirt cheap.

Exercise 3. Try to use some of the money idioms when answering the questions below. Feel free to share them in the comments below.

1. What kinds of purchases can cost an arm and a leg?
2. What do you think is the best way to make ends meet?
3. Is it better to go Dutch, or should one person pick up the tab?

Did you enjoy this post? We’re really happy if we’ve helped you learn some new vocabulary, and we’d love to guide you on your learning journey and help you further improve your language skills. Consider taking individual classes with the person behind this blog. You can see the content of this post adapted into a one-to-one lesson here to get a better idea of what the lessons are like. If you have any questions, don’t hesitate to contact us. Thanks for reading this far, and we hope to hear from you!

Money Idioms

Developed by Kate Boyko for Enguroo Online English School (enguroo.com)

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