How to Talk About Money in English – Spoken English Lesson


Hi, I’m Kasia. Welcome to Oxford Online English! In this lesson, you’re going to learn how
to talk about money in English. You’ll learn useful English words and phrases
to talk about common money topics such as your spending habits, salary, borrowing money,
and more. But wait, is it okay to talk about money? Maybe you heard someone say that it can be
rude to talk about money in the UK or in the US. Sometimes it’s not appropriate. For example, it’s generally not acceptable
to ask someone how much they earn. However, people talk about money all the time;
in this lesson you’ll see how to talk about money in a natural way in English. You’re going on holiday again?! How can you afford it? I can barely pay my rent each month. Well, I’ve been saving up for it. How do you do it? I make a budget for each week, so I decide
how much I can spend, and what I can spend money on. That way, I know how much I’ll save. But how does it work? I’m pretty careful with my money, but I
find it really difficult to save much. It’s the little expenses that add up. You buy a bottle of water here, a sandwich
there, a takeaway pizza in the evening… They don’t cost much, but over time you
end up spending more than you realise. I guess you’re right. But, how do you stick to it? Don’t you just want to have a takeaway pizza
once in a while? Ask yourself: which would you rather have? Most people waste a lot of money on things
they don’t really want. I really love travelling, so I’m happy to
cut back on some less important things so that I can pay for it. You’re right, but I don’t think I could
be that frugal. I’m not a big spender or anything, but I
really enjoy splashing out and treating myself occasionally. Here’s a question: can you name three things
you can do with money? You heard a lot of useful phrases in the dialogue. Of course, you can spend money. You can also save money or waste money. You spend money on something. For example: I don’t spend much on food. He spends a lot of money on gadgets and technology. How much do you spend on rent every month? You can use waste money in the same way: They waste a lot of money on things they don’t
need. Someone who spends a lot is a big spender. The opposite? Someone who spends very little money is frugal. These words are neutral; they don’t have
positive or negative associations. What about save money? You can save for something, or you can save
to do something. Often, instead of saying save money, you can
use the phrasal verb save up, which has the same meaning. For example: I’m saving up for a holiday next year. We’re saving up to buy a car. In order to save money, you can make a budget:
you make a spending plan, and write down everything you spend so that you stick to your plan. If you’re saving for something, you might
need to cut back on other things, meaning that you spend less than usual. On the other hand, some people aren’t so
good at saving. Some people like to splash out; they spend
money on things they enjoy. You can also treat yourself, by spending more
money than you usually would in order to do something nice for yourself. What about you? Are you a big spender, or are you more frugal? Do you find it easy to make a budget and save
money, or do you like to splash out and treat yourself? Think about these questions and how you could
answer them. If you aren’t sure, remember that you can
go back and review the dialogue and the explanations again. Let’s move on. So, I’m thinking of moving to London. I got a job offer, but I’m not sure about
the salary. It sounds good, but I’ve heard London is
expensive, so I’m not sure. I guess it depends on your lifestyle, but
you definitely need more than in other places. My friends who live in London all make decent
money, but they don’t have much left over at the end of the month. Mostly, they’re just getting by. They offered me 25k. That would be okay in most places I’ve lived,
but I’m not sure I’ll be able to make ends meet in London. It’ll be challenging! That’s on the low side, for sure. Put it this way: I know someone who makes
around 45k, and she says she struggles in London. Anywhere else, you’d be very well-off making
that sort of money. Hmm… I guess I’ll look for something better. In most English-speaking countries, people
talk about annual salaries: the amount you make each year. Also, it’s normal to talk about the amount
before tax. For example, ‘25k’ in the dialogue means
25,000 pounds per year before tax. In case you’re wondering, the average salary
in London is around 29,000 pounds per year, while the average cost of living for a family
of four is around 4,000 pounds per month, assuming a comfortable but fairly basic lifestyle. If your salary is higher than average, you
can say you make good money or make decent money. In this case, you’ll probably be well-off:
not rich, but with enough money to have a nice lifestyle and not worry about money. On the other hand, if you only just make enough
to cover your costs, you can say you’re just getting by. This means that you have enough money to live,
but not much more. If you say, I’m just getting by, it suggests
you don’t have a lot of extra money to spend on eating in restaurants, going out, travelling,
and so on. For example: I don’t earn a lot, but I get by. –>Meaning: I make enough to pay all my bills,
but I don’t have much spare money. If someone doesn’t even make enough to cover
their basic expenses, like rent, bills, food and transport, then they are struggling. You can also use the phrase make ends meet,
which you heard in the dialogue. Do you know what it means? Make ends meet means to cover all of your
expenses. Let’s see some examples: I can barely make ends meet. He’s struggling to make ends meet. I don’t know how we’d make ends meet if
we had another child. If you say that someone can barely make ends
meet, you mean that they don’t earn much money, and so it’s difficult for them to
pay all their bills and cover their regular expenses. What salary do you need to make to get by
where you live? How much does someone need to make to be well-off? Think about these questions and how you would
answer them. Let’s look at the next section. Did you hear? He might lose his house. He told me he’s six months behind on his
mortgage payments. Seriously? I knew he was in debt, but I had no idea it
was that bad. He has other loans too, apparently. The car, the furniture: everything was bought
on credit. He has three or four credit cards, all maxed
out. He owes a lot of money. What’s he going to do? Well, he can’t even keep up with the interest,
let alone the actual repayments. He’ll have to declare bankruptcy, but he’ll
lose everything. That’s awful. Of course, he should have been more responsible,
but how could they lend him so much money? They must have known he wouldn’t be able
to pay it back. I don’t know. It’s a bad situation. When you borrow money from the bank, you take
out a loan. If you’re borrowing money to buy a house
or an apartment, there’s a special word for it: mortgage. The spelling is strange, so practice the pronunciation:
mortgage. You need to repay a loan. Generally, you do this by making payments
every month. Some of the payment is interest: an extra
percentage which you pay to the bank. When you finish paying back a loan, you pay
it off. If you have a lot of loans, then you’re
in debt. This means you owe money. In the dialogue, you heard the phrase he owes
a lot of money. Let’s look at some more examples with this
language: It’ll take us another ten years to pay off
our mortgage. The interest on our car loan is ridiculously
high. I never borrow money; I don’t like being
in debt. In the dialogue, we were talking about someone
who had bought a lot of things on credit. If you buy something on credit, you take out
a loan just to buy this one thing. We also mentioned that he has maxed out credit
cards. You max out a credit card when you borrow
the maximum amount you can on it. Finally, if you can’t pay back your debts,
you’ll have to declare bankruptcy. Your debts are cancelled, but you also lose
anything you have which is worth money. So, think about some questions: have you ever
taken out a loan or bought something on credit? In your country, if someone is in a lot of
debt, can they declare bankruptcy? What happens to the money they owe? Again, think about how you would answer these
questions, and review the dialogue and the explanations if you need to. Ready to move on? Let’s talk about one more thing. Can I tell you something? What? I’m so excited! I’m going to be rich! Really? How’s that? I found this article online. It told me about all of these shares which
are definitely going to go up very soon. I bought as many as I could. Now I just have to sit back and wait for the
money to come rolling in. Are you sure about this? How much did you put in? All the savings I had. And… Are you sure that’s a good idea? Why not? These shares will take off, and I’ll double
or triple my money. It’s easy. What if they go down? You could lose everything! It’s not likely. These companies are solid. It’s a one-way bet! So, which companies did you invest in? Well, one was… er… .and then… er… I can’t actually remember the names, but
it’s very exciting stuff. Biotech, you know? Oh, really? Well, good luck. You can buy me dinner when you’ve made your
first million. Deal! What can you do with your savings? You can keep them in the bank in a savings
account, but you won’t earn much interest. Alternatively, you can invest in something,
like shares, bonds, or funds. You can say shares or stocks; both have the
same meaning. You say stock market, but in other cases,
share is more common. You can invest in or put money into something. More informally, you can also get into something. For example: Do you think I should get into crypto? He put half of his savings into government
bonds. You should only invest in shares if you know
what you’re buying. When you buy an asset, like a share or a bond,
its price can go up or down. If it goes up very far or fast, you can say
it takes off. If it goes down very fast, it crashes. For example: I bought Apple shares in 1989. I knew they’d take off one day! They lost a lot of money when the stock market
crashed in 2008. If you do well, you might double or triple
your money. Triple means you increase something three
times; for example, if you turn 100 dollars into 300 dollars. If you don’t do well, you could lose everything
or get wiped out. If you get wiped out, you lose all of the
money you invested. Let’s look at some example sentences: If you make 7 per cent a year, you can double
your money in ten years. He put his life savings into Enron shares,
then got completely wiped out. If you had savings to invest, what would you
invest in? Think about how you would answer. Finally, we have one more question for you:
some people say that money can’t buy happiness. Do you agree with this idea? Let us know your thoughts in the comments. Don’t forget to check out our website for
more great free English lessons: Oxford Online English dot com. Thanks for watching! See you next time!

100 thoughts on “How to Talk About Money in English – Spoken English Lesson

  1. Thank you very much, my name is Sandeep Satratey. I'm not good at English. I understand English, but when it comes to write and speak it. I use very simple words and grammatical structures that sound very unnatural. Is there any source that can convert my unnatural English into natural one and correct my mistakes?

  2. It is known that grains are uncountable nouns such as rice and wheat, so why are these words countable lentils and beans? They are also grains. It is a strange thing. Is there any one can count the lentil ! Please respond to me honestly and thank you.

  3. I know many who are unhappy, are not having enough money. So answer is Yes. To be happy one of most important thing is to have enough money which can satisfy our basic needs. There factors other than money which affect happiness.

  4. Thanks a lot. I often listen OOE. I like it.
    As for happiness ,since there is no clearly definition of happiness I bet money can buy happiness as a pig in a poke .

  5. In my country, money does buy happiness. For instance, if your children get access to higher education, you may be praised and admired by your family members or neighbors in which can only be acquired by lavish educational investment. Moreover, once you have abundant money, the illness or any other painful situation could be easily alleviated, and then keep enjoying your life by comparison of those who can't be cured prior to the cost of therapy would be lower.
    At least I get by, and those compassionate deeds I did before have enlightened my life. Once people around me are happy, then I'm happy. On the other hand, people around me are unhappy, then I'm miserable.

  6. Happiness and money are quietly related with each other. If you could think happiness like water, then money would be the bottle. It's possible that Happiness might come without money, but to keep happiness for a longer period of time, Money acts like a 'friend in need is a friend indeed'. I'm very keen on watching your videos and my real love to both of you just get the ground by posting comment for the first time. Many many thanks for both of You.😊

  7. I am a big spender. Always I make a badget ,but is very difficult to save money . I never browoo money ,I don't like being in debt . sometime I haven't money but I feel good and happy with my family and my friends ,love make the happiness not money .

  8. Well for sure money is important but here its numbers of suicidal attempts of wealthy figures like actresses and singers , money doesn't garantee your happiness it is the most important way for the betterment of living.

  9. Very useful vocabularies. Good and complete explanation. I must review this lesson video Everytime I talk about money…

  10. Hello welcome you corect english six marh my not speakin corect english my regret extra mylife my openan speaking thak you.

  11. The efforts your channel is making really appreciated.I have learned a lot from it and really getting better day by day. Furthermore it's been a good platform for learners like us.Thank you so much.

  12. Yes.. I think money can buy happiness.. not directly.. but using money we can buy resources of happiness by using it intelligently.. 😊

  13. Money can't buy happiness, but it can buy me a mobile phone, which i can use to watch Oxford online English lessons. That's happiness to me.

  14. Money can't buy happiness because happiness and money both are not having any equality both are just requirement to fulfill our life spendings

  15. By using money people can buy things but anyone can't get feelings by spending money happiness is one kind of feeling which cannot be fulfill my money however to some extent by spending money you can get little happiness in your life

  16. Thanks guys! Great Saturday breakfast with your lessons! … Unfortunately, in the our world money and happiness walking together.

  17. Share a translation in your own language and help others talk about money in English! http://www.youtube.com/timedtext_video?ref=share&v=hqt3mRgaA5g

  18. No, it can’t. Adequate or enough money might provide you with a high standard of living, but it tend to come with stress or burden. Mental happiness can not be purchased with cash.

  19. Thank very much. What a nice pronunciation!! I’ve always been struggling with the /z/ sound or the other one which is like a lowercase z, but now I think I got it from Mikey.
    And in my case I agree, money can make you happy, because if you are upset you can go to buy something and release stress or if you have enough or a lot of money you can help the less favoured which makes you happy as well. but you can not buy everything like health intelligence or life forever. Sorry you just have to accept life with the ups and downs

  20. money is important in life of every person, but money not become cause of happiness in life every person.

  21. Hho I'm extremely Sry for this ,ok I'm agree with that money can't buy happiness but money can solve the problem , It's lead to making a good relationship with everyone and without money can't be making sufficient happiness with people, think about it. I hope you understood it …

  22. Thanks for your sharing. This lesson is so useful.
    The question " Money can't buy happiness"?.
    For me, Money can buy happiness. I am an out-going person. I like traveling and talking with people. So, I take money and go to everywhere I wanna go! That's my happiness and money is my partner.

  23. Thanks Oxford Online English for this fascinating and helpful video. I am living in Tokyo, Japan and make decent money, at the first I was happy about this, but time getting by I am getting quite bored now, because each day is pretty similar and I am working with a boring job. So now, I am trying to learn English, take the IELTS and gonna come to another country for challenging and making my dream becoming reality. Thanks again.

  24. Thank you for your wonderful lesson. I'm always struck by your great passion in teaching English. Your good teaching has always been greatly helpful to improve my English.

  25. Owing to this money oriented era , everyone deny thought that money can’t buy happiness. However , in my opinion I partially agree on thought that it can’t buy joviality.

  26. I don't spend much money, because I don't pay a rent, electricity or gas. All my expenses are for my personal things(bus tickets, recharchable, toothpaste, clothes etc). I am not saving as I want ,due to small expenses like coffee, sweets etc..

  27. Hello welcome my not big money my money my life diffiult not fix job sorry my ricwest are you thak you

  28. Em muốn có phụ đề tiếng Việt nam – song ngữ . Nghe thế này nhiều người kkhông hiểu

  29. In my opinion money can't buy happiness but money makes happiness
    When I make decent money, I will live in a nice life style .It makes me
    spend my money on many things that I want or prefer to get in any time
    I can treat my self
    But on the other hand, If I just get by,I will think everytime how can I make ends meet. Life in struggling is really difficult. In this time, I am going to make a budget to control my wasting money and cut back on my favorite sweet ,then I will take out a mortgage which I don't know if I can pay it off or declare bankruptcy
    Money is an instrument not a destination

  30. well, the notion " Money can't buy happiness '' has always been a controversy. Majority of people believe that is true. But i beg to differ on this. Personally. i believe that there are a lot of things that could make me happier if i could have them or do them. of these is traveling, one can only travel if he/ she has descent money if not plenty. I can also mention some other examples like having a meal at a fancy restaurant, or live in a big mansion, drive a futuristic car…… the list goes on. However , it goes without saying that, there are things in the world that a money can never buy. Family, love, health and inner peace. These, unfortunately are source of greatest happiness, as compared to the aforementioned materials and activities.

  31. sure! happiness is not a commodity that could be purchased bu money, but money is very important part to live happily.

  32. It is always wise to save money so that you can invest it in a the future. Wasting and spending in invaluable things will not help anymore. Anyway, it is just my point of view…I used to buy a lot of beauty products. However, my face didn't change I just lost money that I could use to buy done important

  33. Money is needed for our daily life as like as body needs oxygen for respiration. I think it may be blessing and curse both for the people. Greed to earn a lot of money in illegal ways can bring a man into wild. At present human being are forgetting their responsibility and duties to the society. Their greedy activities make worsen our future generation. They will face danger in future if these malpractices not be stopped. Trafficking, smuggling, Adulteration in food such as kinds of crime are made by human only for making money.

  34. what the meaning of these word =cut back on ,splash out and treat yourself
    and how can we use in sentence. kindly give some couple of example we can understand it

  35. Im one of your new viewers،actully im preparing for ielts and i could say that im beginner yet and yours videos are verry useful for me….thank you

  36. Teacher Casia said "Money can't buy happiness".Ok. As far as I am concerned, money can fulfill for happiness but it may be a little. As money is the root of all evil,I can't tell as some people take a fancy to do evils as their happiness. That's why it depends on the host. For me, I'm a frugal and I haven't any debt.Being a student, I save money for my education and I have never took out a loan because it's enough.
    Thanks for your teaching.

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