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Money – any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.

Money is very important to all people in this world. Wherever you go, you will need this to pay or buy the things that you need such as food, fair, shelter, medicine, etc. Its name or term may vary depending on the situation.

Know the different terms or forms of money by reading this short information for you. Enjoy learning!

 

money terminologies-2

LOAN
* borrowed from a bank.

 

money terminologies-3

WAGE
* for a day worker.

 

money salary from company

SALARY
* money given by an employer.

 

money from church

DONATION
* at a temple or church.

 

money from school

FEE
* at school or college.

 

tax money

TAX
* pay from the government.

 

money bribery

BRIBE
* illegally received for service.

 

money for ransom

RANSOM
* paid for a kidnapper.

 

money terminologies-1

ALLOWANCE
* you give your children.

 

money from the court

FINE
* in a court.

 

money terminologies

ALIMONY
* in case of a divorce.

 

tip money from restaurant

TIP
* offer someone for a service.

 

money from pension

PENSION
* post retirement.

 

money debt

DEBT
* when you owe.

 

 

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Genius English Proficiency Academy

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