Lesson 6: Money & Personal Finance
Thematic & Topical Vocabulary (B1)
Managing your money is a crucial life skill. Personal finance is about how you earn, spend, and save. This lesson will teach you the fundamental vocabulary to talk about your money with confidence.
Word Bank
Core Concepts
-
Money
The coins or paper notes used to buy things.
-
Finance
The management of money.
-
Budget
A plan for how you will spend your money over a period of time.
Example: "I need to make a monthly budget." -
to Earn
To get money by working.
Example: "I earn money from my job." -
to Spend
To use money to buy goods or services.
Example: "I try not to spend too much on coffee." -
to Save
To keep money for use in the future.
Example: "She wants to save money for a new phone." -
Cost
The amount of money needed to buy something.
Example: "The cost of living is high in the city." -
Expensive
Costing a lot of money.
Example: "That watch is too expensive for me." -
Cheap
Costing little money.
Example: "The street food here is delicious and cheap."
Usage Note: 'Lend' vs. 'Borrow'
These two verbs are opposites and often confuse learners.
- Lend: To give something to someone for a short time, expecting to get it back. (I ➞ you)
Example: "Can you lend me $5?" - Borrow: To take something from someone for a short time, intending to return it. (I ⬅ you)
Example: "Can I borrow your pen?"
In Conversation
Srey and Bora are discussing their personal finances for the month.
Srey: I need to make a new budget. I think I spend too much money on clothes.
Bora: I know what you mean. It's hard to save money when everything is so expensive.
Srey: Exactly! How much do you earn at your new job?
Bora: Enough to live comfortably, but I still look for cheap food stalls to save money. The cost of rent is my biggest expense.
Srey: That's smart. Maybe you can teach me how to manage my finance better!
Check Your Understanding
- A plan for how to use your money is called a ______.
- a) cost
- b) budget
- c) salary
Answer: b) budget
- If a new phone costs very little money, it is ______.
- a) expensive
- b) cheap
- c) valuable
Answer: b) cheap
- You get money from your job. What is the verb for this?
- a) to spend
- b) to save
- c) to earn
Answer: c) to earn
Your Mission
- My Budget: Make a simple list of things you spend money on every week. (e.g., food, coffee, transportation).
- Saving Goal: Write one sentence about something you want to save money for. (e.g., "I want to save money for a new motorbike.")
- Speak: Your mission is to ask a friend, "What is something expensive you would like to buy?"