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, fare, 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!
LOAN
* borrowed from a bank.
WAGE
* for a day worker.
SALARY
* money given by an employer.
DONATION
* at a temple or church.
FEE
* at school or college.
TAX
* pay from the government.
BRIBE
* illegally received for service.
RANSOM
* paid for a kidnapper.
ALLOWANCE
* you give your children.
FINE
* in a court.
ALIMONY
* in case of a divorce.
TIP
* offer someone for a service.
PENSION
* post retirement.
DEBT
* when you owe.
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