Today, we're doing an advanced English lesson, where you will learn useful money-related vocabulary.
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Time codes:
0:00 Money-related English vocabulary
1:31 Broke
Describes a person who doesn't have money or has ran out of money.
2:05 Cash
Banknotes and coins.
Money that you have on your checking account.
2:33 Currency
Money used in a particular country.
2:52 Exchange rate
The rate at which one currency will be exchanged for another.
3:14 Expenses
Money you spend on something
3:22 Interest
Percentage that bank gives back to you, because you put your savings into their savings accounts.
4:30 Loan
Money that you borrow from a bank, from an institution.
4:54 Taxes
Money you pay to your government if you make money.
5:56 Withdraw
To take money from your account.
6:14 Recession
A period of decreased economic activity.
6:41 Invest
To put your money into stocks, bonds, etc.
7:26 Financing
Taking a loan to buy something.
7:59 Mortgage
A type of loan you can use to buy a house.
8:23 Debit vs credit
Debit card
You put some money on it and can spend only this amount of money.
Credit card
You don't have money on your card. So, everything you spend you owe to your bank.
10:07 Owe
To need to give money back to someone
IOU = I owe you

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