English Language Blog

Money talks Posted by on Jul 30, 2021 in English Language, English Vocabulary

Good morning, everyone! Talking about money isn’t always easy. Over the past few years, global economy underwent a major blow as the pandemic hit and affected the market on a huge scale. A lot of people lost their jobs or couldn’t secure a stable stream of income, and so the money problems begin!

As unpleasant as it may be, there comes a time in our adult lives when we inevitably have to face issues like these. And it sure can be a lot easier when you have the language skills to communicate about it, right? Today’s text will go over a few terms to talk about personal finance in English. Let’s have a look at it? I promise it will pay off!

borrow/ lend

Talking about money problems in English (Photo by breakingpic from Pexels)

If you are in a tight spot financially, you might have to borrow money from someone or from a bank and pay them back later

  • Oh, shoot, I left my wallet in the car. Could I borrow 20 dollars?
  • My father lent me 10.000 dollars to cover part of my wedding expenses.


Money you borrow from a financial institution and must be paid back on the agreed upon date

  • My husband and I just applied for a loan to start our own business.
  • If you want to buy a car nowadays, you will have to take out a bank loan.

interest rates

But watch out, getting a loan means they will charge you for interest rates.

  • Factors like the state of the economy or inflation may lead to a rise in interest rates.
  • What is the average interest rate for a loan here?


The money you borrow to buy real estate.

  • Taking out a mortgage is a big money drainer, but it is still better than paying rent.
  • If you fail to pay your mortgage, you run the risk of having your home repossessed.

in debt

Learn about personal finance in English (Photo by Liliana Drew from Pexels)

If you owe money to a person or an institution, this could mean that you are in debt.

  • Due to the recession, the company is now deeply in debt.
  • Getting a college education in the US could mean being in debt for many years to come.

in the red

Another way to say that you spent more money than you earned is to say you are in the red.

  • If we remain in the red for longer, we’ll eventually go out of business.
  • My account is 500 dollars in the red, I hope I can get my paycheck soon.


And if you spend more than you have on your bank account, a bank might temporarily allow you to have an overdraft.

  • My bank account has a 300 dollar limit on overdrafts.
  • Be careful with your spending so you don’t run up an overdraft.

pay off

On the other hand, you can pay off your debts and no no longer owes money.

  • Haley managed to save up enough money to pay off her students loans.
  • Three more months and the car will finally be paid off!

Digging into your savings can be a bad ideia (Photo by maitree rimthong from Pexels)

bail out

If someone helps you from financial trouble, they are bailing you out.

  • When Tim lost his job, his family had to bail him out so he wouldn’t lose his house.
  • The government is discussing a plan to bail out businesses who couldn’t operate during the lockdown.

(dig/dip into your) savings

When money is tight, you might have to dig into your savings.

  • I had to dig into my savings to pay for the hospital bills.
  • George was unemployed for 4 months, so he had to start dipping into his savings.

(file for) bankruptcy

And finally, when you see yourself unable to pay off your debts, you declare bankruptcy. 

  • Businesses in the hospitality industry filing for bankruptcies has been increasing over the past year.
  • If sales continue to go down this quarter, we might be on the verge of bankruptcy.

A penny for your thoughts? Do you know any other money-related terms? Make sure to comment below. Check out this previous post on the subject here. Have a wonderful weekend!

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