How to use this lesson: read each item aloud, notice the collocation, cover the definition and retrieve the word from memory. Then use at least three items in your own sentences.
10 useful words and phrases
income
Money received from work or other sources.
Example: Her income varies from month to month.
Natural collocation: annual income
expense
Money spent on something.
Example: Travel is our biggest business expense.
Natural collocation: monthly expenses
savings
Money kept for future use.
Example: They used their savings for the deposit.
Natural collocation: build up savings
interest
Money paid for borrowing or earned on savings.
Example: The account pays interest monthly.
Natural collocation: interest rate
loan
Money borrowed and repaid later.
Example: He took out a loan to buy a car.
Natural collocation: repay a loan
debt
Money that is owed.
Example: They are trying to reduce their debt.
Natural collocation: get into debt
deposit
Money paid in advance or placed in an account.
Example: We paid a deposit on the flat.
Natural collocation: pay a deposit
refund
Money returned after a purchase is cancelled or rejected.
Example: The shop issued a full refund.
Natural collocation: request a refund
afford
To have enough money to pay for something.
Example: We cannot afford a new car this year.
Natural collocation: can afford
invest
To put money into something with the aim of making a return.
Example: She invests a small amount each month.
Natural collocation: invest wisely
Quick vocabulary check
- 1. Which word means “money received from work or other sources”? income
- 2. Which word means “money spent on something”? expense
- 3. Which word means “money kept for future use”? savings
- 4. Which word means “money paid for borrowing or earned on savings”? interest
- 5. Which word means “money borrowed and repaid later”? loan
Make the vocabulary active
Choose five items above and make them personal. Say one true sentence about your life, work, studies or experience for each item. For stronger recall, return tomorrow and try to reproduce the collocations without looking.