Unit 06

UNIT 06 MONEY bill n. A bill is a request for payment of money owed. People often use online banking to pay their bills. borrow v. To borrow is to take something with the promise to return or replace it. Some people need to borrow money from the bank to pay for things. budget n. A budget is the amount of money that you have available to spend. She is figuring out her budget for the year. buy v. To buy is to get something by paying money for it. They want to buy a new house. cash n. Cash is money in the form of coins or bills. The machine only accepts cash. cent n. A cent is a unit of money that is equal to one percent of a dollar. A dime is worth ten cents. currency n. Currency is the money that a country uses. There are many currencies in the world. debt n. Debt is an amount of money that you owe to a person or bank. She is having trouble paying off her debt. dollar n. A dollar is a basic unit of money that is equal to 100 cents. The dollar is used in countries such as Canada and the US. earn v. To earn is to get money for work you have done. She doesn't earn a lot of money, but she likes working here.

economic adj. Economic means concerned with the organization of the money, industry, and trade of a country, region, or society. The charts show the country's current economic growth. exchange v. To exchange is to give something and receive something in return. He exchanged his money for the currency of the country he was traveling to. income n. Income is money someone gets for work or from a business. Farming is my dad's main source of income. insurance n. Insurance is protection against certain accidents that is provided by a company in return for a fee. The damage may be covered by your house insurance. loss n. A loss is a situation in which more money is spent than earned or received. The company's losses for the year were very high. pay v. To pay is to give money in order to buy something. Most people pay for things by credit card. pound n. A pound is a basic unit of money in the UK and some other countries. The Queen of England is on the one pound coin. save v. To save is to keep money instead of spending it. She is saving for a new car. spend v. To spend is to use money to pay for something. She spends a lot on clothes and other items. wallet n. A wallet is a small folding case that holds money. The wallet has several credit cards in it.