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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boom cool okay let’s get to today’s
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
a link in the youtube description
englishclass101.com
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
please please please make sure to like
this video and share it so other people
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
oh my gosh october 6 at 10 pm eastern
standard time that is new york city time
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use your google skills to find it uh
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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
thanks very much for joining me this
week and of course
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leave you now so have a good day have a
good weekend and i will see you again
next time