How to Talk about Money in English earning saving and spending

hey my name is alicia and in this week’s

live lesson we are going to talk about

how to talk about money we’re going to

talk about earning money spending money

and saving money so i hope this will be

a super useful lesson and fun too

because we all have to think about money

today’s lesson will be very

vocabulary focused so if you have

questions

about other vocabulary words you can

send them in the chat and i will try to

check them all live alright i hope

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lesson then so today’s lesson is about

money

something we all have to think about

right so here are today’s lesson boards

i made three topics for vocabulary study

today we’re gonna talk about earning

money

spending money and saving money these

are the three

focus points

i chose for today of course there are

many many topics we can talk about and

many vocabulary words too uh i can’t

cover everything but i hope

today’s lesson includes some things you

can use uh in your everyday life yeah

and answers maybe some questions you

have about the differences between verbs

okay cool it looks like everybody is

here now uh hello russell and joyce on

youtube dinesh hello al habib hello

everybody good everybody’s here and

facebook umer hello witchuta hello good

morning husnie hi ken soy hello kaya

nath from cambodia cool okay samora says

i want money too teacher yes

we all want money right so let’s start

let’s start by talking about earning

money

earning money okay so let’s describe

this uh kind of basic verbs for this

category so to earn to earn

in this case money we can earn other

things but today’s focus is money to

earn money

means to do a job or to sell something

or to provide a service

in exchange for money so you do

something or you sell something or you

give someone something like you rent

something and in exchange you receive

money or you are promised money so we do

this to earn

money that means we expect to receive

money yeah for example

he earned

50 000

last year so this is past tense

this is the year’s earnings the amount

he earned for the year he earned 50 000

last year

so you can think about how much you

earned last year maybe zero if you’re if

you’re a kid that’s okay uh so you can

use this pattern to talk about your

money your income the amount you made at

your job last year okay

all right then

so we have this to earn money and then

to get paid to get paid means to receive

the money you have earned to receive the

money you have earned so you earn money

you go to your job or you sell something

you earn money and then when you receive

the money we say we get paid to get paid

so for example yay we get paid on friday

yay we get paid on friday or

i don’t get paid until next month i

don’t get paid until next month this one

i know in speech in fast speech this

sounds like get pay but it’s actually

get paid get paid so please keep this in

mind p-a-i-d so i get paid tomorrow for

example we like to talk about this okay

next one then let’s go oh sorry i’m

trying to check the chats okay then next

let’s look at this one payday payday

payday is the day on which you receive

your payment the day on which you

receive your payment so maybe that’s the

same day

every month or maybe it’s every friday

or maybe every two fridays whatever so

you know your pay day for example

tomorrow is payday or payday is next

week payday just means the day you

receive your money okay

um

all right muhammad says really i got

paid yesterday excellent congratulations

hooray okay onward so this is payday

then i want to talk about these two

points here i sometimes see questions

about the difference

so i want to talk about hourly rate and

salary so these are two

types or two pay styles

an hourly rate this is a noun phrase

your hourly rate is the amount of money

you receive for one hour of work the

amount of money you receive for one hour

of work

okay so for example this job pays ten

dollars an hour in this sentence

ten dollars per hour is the hourly rate

so

while we don’t use hourly rate a lot in

conversation

we see this in like job contracts and

agreements so in this case ten dollars

an hour or you might see ten dollars per

hour is the hourly rate that’s the

amount of money you receive per hour so

like i said we see this hourly rate on

like a job contract it says hourly rate

ten dollars for example okay

all right i’m looking for your questions

if you have questions i see lots of

questions today about different topics

if you have questions about other topics

different from today’s lesson send them

to me for the ask alicia series there’s

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ask hyphen alicia okay then so we talked

about hourly rate now let’s go to salary

so what is a salary a salary is a

regular amount of money

you earn each month so you earn the same

amount

every month so maybe

maybe you have some other types of

earnings you have other ways to make

money inside your contract

but you have one

base

rate so a base amount of money you

receive every month for example

the salary at this job

is sixty five thousand dollars

per year

that’s about five thousand four hundred

dollars per month

okay

so

the salary is this amount so this means

in one year

i expect the basic payment the basic

amount

i will receive is five thousand dollars

in one year so

in twelve months it’s about this much

per month five thousand four hundred

dollars okay

um someone on facebook says what about

weekly yeah maybe you have weekly pay as

well like a weekly rate you could that’s

totally fine too

uh it depends there are many different

uh like time periods to get paid maybe

you have a daily rate as well

okay so hourly rate and salary these are

two ways to

decide on the payment yeah how much you

earn yeah okay

um

what is the difference sad el-sayed says

what is the difference between payment

and salary your payment is the money you

receive so for example if you work like

if you worked last month and you

received

thousand dollars or something that’s

your payment that was my monthly payment

or your monthly payment the salary as i

said it’s the same is your same amount

every month so this depends on your job

contract so if you have a job with an

hourly rate or a weekly rate or project

rate maybe you don’t have a salary like

a salary

typically we think of as a monthly

regular the same amount every month yeah

so this is the difference

okay all right

david moreno says if i want to ask about

legal benefits how do i ask oh i’m not

talking about contract negotiation in

today’s topic but uh you would ask what

you just said like what about tell me

about the legal benefits okay okay so

this is uh part one about earning money

earning money okay

uh let’s go to a quick break and then we

will go to part two people are asking

what is the salary for an engineer what

is the salary i don’t know

you need to google those things i’m not

the i’m not the i don’t know all of the

job salaries in the world we’re talking

about language today

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can help you yeah okay cool so let’s go

on to more stuff spending money we’re

going to talk about now okay i’m looking

for your questions

all right

yes let’s talk about language i cannot

answer your salary questions and this is

not financial advice we’re talking about

vocabulary today okay let’s go to part

two spending money if you have not

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can find today’s lesson

okay let’s go to spending money

vocabulary for spending money okay so

you earned money at your job or selling

something or giving a service now let’s

talk about spending it so using your

money to spend money means to use your

money so let’s talk about some common

verbs and the differences between these

verbs yeah

so to buy to buy something or more

formally to purchase something we use

buy in everyday conversation

to buy something means to use money to

get a product to use money to get a

product right for example past tense i

bought

bought i bought new shoes this weekend i

bought new shoes this weekend

or

let’s buy some plants for the house

okay so buy becomes bought in past tense

yeah i bought new shoes this weekend

that means i used my money to get new

shoes this weekend right or let’s buy

some plants for the house so let’s use

our money to get plants for the house

okay

jose diaz says i use money to buy food

every day yes me too

i love to buy food

okay um

onward okay let’s go to the next one

which is to pay so what’s the difference

between buy and pay i see this question

sometimes to pay

this verb we use to mean to give money

that you have a responsibility

to provide so there’s some expectation

you are going to give this money for

example i have to pay my rent next week

i have to pay my rent next week so that

means i have responsibility

to give money for rent so rent if you

don’t know this word rent means your

house or your apartment cost yeah if you

rent an apartment if you

have if you own a house then maybe you

have a different payment a mortgage

payment or something else but i have to

pay my rent next week i have some

responsibility some expectation to pay

to give money okay

or another one uh is just paying your

bills like your mobile phone bill your

electricity bill there’s a

responsibility to give money

okay

or here’s another one please pay at the

register please pay at the register you

see this on signs

in retail stores and maybe restaurants

too so when you shop like you buy

clothes or food or something

and you decide like i want this shirt or

i bought i got some food now i have a

responsibility to pay it will say please

pay at the register it’s like saying

finish your transaction finish your

shopping at the register

okay

all right

cool uh ah akshay says what is the

difference between

paid and spent or maybe we can just say

pay and spend so to pay means to give

there’s some expectation yeah i have a

responsibility to spend just means to

use it yeah so we have a limited amount

of money we just use the money no

expectation there

okay cool all right uh onward so next is

this word to over

spend to overspend this means to use too

much money to use too much money for

example oh no

i overspent on my vacation this means i

spent too much money on my vacation yeah

that’s a bad thing or

i have to be careful not to over spend i

have to be careful not to overspend

please be careful don’t use too much

money so we have this verb to overspend

okay

all right

cool

then the next one

i wrote this as a this is an interesting

noun phrase

i think maybe all of us

have this experience sometimes this is a

shopping spree

shopping spree spree is not such a

common word actually

it means to do something a lot in a

short period of time but we use it in

like really set phrases we don’t use

spree a lot

in other situations we use it in

shopping spree and some other uh some

other kind of odd like new serious news

situations so today let’s focus on this

a shopping spree is like a day usually a

day or maybe a weekend where you buy

lots and lots of things so we usually

say like uh i she went on a shopping

spree for example it means she bought

lots and lots and lots of things in one

day or in a weekend here’s some examples

i went on a shopping spree and

completely changed my apartment

so a shopping spree a shopping spree

this is a noun phrase we use the verb go

with it to go on a shopping spree here i

used past tense went i went on a

shopping spree so this means it’s like i

used a lot of money maybe i used a lot

of money or i spent a lot of time

shopping buying many different things we

call this a shopping spree

okay

um

all right

yes many people are talking about the

importance of money some people are

asking me about my money

that’s private

okay

uh good i don’t see other questions

says i have to pay for tuition yes

tuition is another thing school costs is

another thing we use pay with okay

all right let’s go to the last one here

the last one everybody likes this i

think to get a deal to get a deal means

to find a good price for something you

might also hear to get a bargain this

means the same thing it means you get a

good price

we tend to use deal more at least in

american english to get a good deal or

to get a deal

so you found a cheaper price for

something for example i got a really

good deal on my computer i got a really

good deal on my computer or he found a

really good deal on phones that means he

found a good price on a phone or i found

a really good price on my computer so

that means i found a cheap price

yep okay

all right

uh i don’t see other questions yet what

is the meaning of wage and the

pronunciation so wage i just said it

wage your wage is the amount you receive

at your job we typically say wage for

like hourly or maybe weekly or daily

payment your wage is the amount in your

job contract the amount of money you

receive

okay

all right

okay let’s finish part two there so

spending money some vocabulary for

spending money

what’s the meaning of deal a deal means

a bargain a good price deal means good

price to get a deal means to get a good

price

okay

cool let’s be done with part two okay so

oh my gosh time’s going so quickly so

that’s part two about spending money

we’ll do one more super quick break and

then go to the last part saving so

important okay so uh super super fast if

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okay let’s go to the last part for today

let’s go to saving money some vocabulary

words for saving money

uh very important of course also make

sure if you haven’t liked the video and

share it as well uh let’s go to saving

so

saving money to save

money means to keep money for later to

keep money for later for example

i save money every month i save money

every month okay so we keep money for

the future for vacation for when we are

older

for something we want to buy

so we can save money for something for

example i’m saving money for a new

computer

or i’m saving money for a vacation

so to save money means to keep it for

later

okay another

key book super key vocabulary word is to

invest to invest so to invest means to

use your money to buy stocks or bonds or

other things to try to increase your

money so maybe you know the vocabulary

word the stock market many people like

to invest in the stock market or like

cryptocurrency is popular now too so

that means we use our money

to buy those investments to buy those

things we think are going to increase

our money those things are going to grow

our money so we can choose to invest so

like stocks for example means we buy a

very small part of a company we think is

going to perform well to do well and our

money will hopefully grow

okay

[Music]

okay so

to invest some exam an example we invest

some of our money in technology

companies we invest some of our money in

technology companies

okay

uh

i’m looking for your questions there are

lots of questions like about loans and

salaries and stuff like that i don’t

know you need to check with your bank

and google these things i do not know

loan rates and interest rates

uh everywhere in the world

uh so check those out on your own time

okay let’s go to the next part uh types

of account i want to talk about two

types of account so uh we commonly use a

savings account a savings account this

has an s at the end not just a saving

account but a savings

account

a savings account is

a place to keep your money at a bank and

it’s a regular

bank account you don’t use for daily

spending

you use it to keep money and it grows

very slowly

so

your regular

account you use for daily spending we

usually say in the us that’s a checking

account

so a checking account but a savings

account we usually we just put money in

this bank account we

typically we try not to take money out

we’re keeping the money there and it

gets bigger very slowly okay with

interest we’ll talk about interest later

so this is a savings account for example

i don’t have much money in my savings

account i don’t have much money in my

savings account okay

then the next type i want to talk about

is a retirement account a retirement

account retirement means the time after

you stop working so retirement is when

you are maybe at old age maybe you can

retire very young i don’t know but

retirement means when you’re not working

anymore so

saving money for that we keep money for

that in a retirement account

so this is a place to keep money for

later in life much later in life to use

after you stop working for example

i add money to my retirement account

monthly

i add money to my retirement account

monthly so this is a type of account we

use

and we don’t touch we don’t take money

out of it we use it to keep money for

much later in life

okay

let’s go to the last one interest

interest oh my gosh so important

interest so interest this does not mean

the same thing as the adjective

interested it does not mean interest

like something we think is cool or fun

completely different i know this word is

the same but it means a completely

different thing in money and finance so

interest

is the amount your money grows

in your bank account so in your bank

account or in uh your investments also

so the amount your money grows so

usually interest

is we understand it as a percent like

one percent interest or 10 percent

interest that’s how much our money will

grow

in a year maybe in a month as well okay

for example

this account has a 1.5 percent

interest rate

hmm 1.5 so for a savings account you

might think oh that seems pretty good

1.5

or my savings account has really low

interest so that means my savings

account doesn’t grow very much because

the interest

is very low

so usually we want high interest for our

savings accounts because we want to grow

our money

okay

so

interest this is how much your money

grows interest this is a good word to

know for money and finance yeah okay

cool interest uh all right i’m looking

for your questions everybody’s asking me

about my personal finances this is my

personal information

i’m not going to tell you about my

personal finances here this is about

financial advice of my financial hour

we’re talking about vocabulary

okay

uh let’s see i’m looking for other

questions about this oh can you please

explain the meaning of buck

and grand ah buck is slang for dollar so

one dollar means one buck

so give me five bucks means gives me

five dollars we use buck as slang and

grand is slang for one thousand dollars

like i found three grand in my bank

account i forgot about i guess so that

means three thousand

dollars okay

cool so we have to finish there oh my

gosh time i’m already late that went so

fast i like this topic in general though

money is very important to consider so i

have to end there but i will put up the

lesson boards again so you can take a

screenshot here you go

so we talked about vocabulary for

earning money for spending money and for

saving money we talked a little bit

about investments and a little bit about

savings and interest and all these

topics very important to consider so

we’ll finish there for this week but i

will of course be back next week next

week’s lesson information

is coming oh it’s coming up

okay i can’t see today okay here is next

week’s lesson information that’s kind of

in a weird spot isn’t it next week’s

lesson will be october 6 already october

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standard time that is new york city time

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there okay cool so that is it for this

week we’ve talked about money hmm

excellent so i’ll say goodbye for now so

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