Money and finance
Learn the English words you need to talk about banking, budgeting, debt, and personal finance.
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Terms in this deck
- incomethe money you receive, usually from work
- expensemoney spent on something
- savingsmoney you keep instead of spending
- savings accounta bank account for keeping money you don't spend right away
- checking accounta bank account used for everyday spending
- bank accountan account at a bank where you keep your money
- PINa secret number used to access your bank account
- depositmoney you put into a bank account
- withdrawalmoney you take out of a bank account
- balancethe amount of money in an account
- bank statementa document showing all the activity in your account
- transfermoving money from one account to another
- wire transferan electronic transfer of money between banks
- online bankingmanaging your bank account through the internet
- digital walletan app that stores your payment information for online or contactless payments
- overdraftwhen you spend more money than you have in your account
- interest ratethe percentage a bank charges or pays on money
- loanmoney borrowed that must be paid back
- mortgagea loan used to buy a house
- debtmoney that you owe
- credit scorea number that shows how reliable you are at paying back money
- credit limitthe maximum amount you can spend on a credit card
- minimum paymentthe smallest amount you must pay on a bill or credit card each month
- installmentone of several payments made over time
- down paymentthe first, larger payment made when buying something expensive
- invoicea document requesting payment for goods or services
- currencythe money used in a particular country
- tax returna form you file each year to report your income and taxes
- net incomethe money you earn after taxes and deductions
- gross incomethe total money you earn before taxes and deductions
- bonusextra money given as a reward, usually at work
- investmentmoney put into something to earn more money later
- stocka share of ownership in a company
- retirement fundmoney saved for when you stop working
- pensionregular payments made to someone after they retire
- inflationa general rise in prices over time
- insurancea service that protects you financially against loss or damage
- premiumthe amount you pay regularly for insurance
- deductiblethe amount you pay before insurance starts covering costs
- claima formal request for payment from an insurance company
- financial advisora professional who helps you manage your money
- subscriptiona regular payment for ongoing access to a service
- wealthyhaving a lot of money
- affordto have enough money to pay for something
- net worththe total value of everything you own minus what you owe
- assetsomething valuable that you own
- liabilitymoney that you owe
How to study this deck
This vocabulary appears in banks, apps and bills. Study by topic: accounts (savings account, checking account), transactions (deposit, withdrawal, transfer) and documents (balance, bank statement). Practice with real situations: opening an account, checking your balance or asking for a loan in English.
The trickiest words
- checking account: it is a day-to-day account in the US. In the UK it is a "current account".
- balance: it is the amount of money in your account. It also means equilibrium.
- withdrawal: it is taking money out. The verb is "withdraw".
Examples in context
Her income increased after the promotion.
He opened a bank account when he turned eighteen.
I did a transfer to my sister's account.
He took out a loan to buy a car.
I'm paying for the phone in installments.
Her gross income is $50,000 a year.
Inflation has made everything more expensive.
He canceled his streaming subscription.
Mini dialogue
- A: I want to open a savings account.
- B: Sure. Do you want online banking too?
- A: Yes. And what is my balance?
- B: Let me check your bank statement. You can make a deposit here.