B2 | Vocabulary | 12 min

Money and Everyday Finance

Collocations, word families and formal words for talking and writing about money.

Part A: Collocations

Collocation	Meaning	Example
stick to a budget	follow a plan for how much you spend, and not spend more	I try to stick to a budget by writing down everything I spend.
cut back on (something)	spend less money on something	I decided to cut back on coffee and snacks to save money.
pay off a debt	finish paying all the money you owe	It took him ten years to pay off his student debt.
take out a loan	borrow money officially from a bank	She took out a loan to start her own business.

Part B: Word families

Base word	Word forms	Meaning	Example
afford (verb)	affordable (adjective)	affordable = can be paid for without difficulty	Fresh vegetables are affordable at the local market.
invest (verb)	investment (noun), investor (noun)	investment = money put into something to make a profit; investor = a person who invests	Her investment in shares made a profit after five years. Investors lost money when the company closed.
economy (noun)	economic (adjective), economical (adjective)	economic = relating to the economy; economical = cheap to use, not wasting money	The economic situation is improving. A small car is more economical than a large one.
save (verb)	savings (noun, always plural)	savings = money you keep for the future	After ten years of work, they had enough savings to buy a house.
borrow (verb)	borrower (noun)	borrower = a person who borrows money	Borrowers must pay back the loan with interest.

Part C: Formal words

Everyday word	More formal word	Example (formal)
pay back	repay	Borrowers must repay the loan within five years.
get	obtain	You can obtain a refund at the customer service desk.
ask for	request	You can request a new card at any branch.
buy	purchase	You can purchase tickets on our website.

Exercise A: Choose the best option

Items 1-4: choose the correct collocation.

1. It is hard to ___ a budget when prices keep rising.

____ a) stick to ____ b) stand by ____ c) hold up

2. We have to ___ eating out and buying new clothes.

____ a) cut off ____ b) cut up ____ c) cut back on

3. She worked two jobs to ___ her debt in just three years.

____ a) pay out ____ b) pay off ____ c) pay up

4. They had to ___ a loan to buy their first apartment.

____ a) take out ____ b) take up ____ c) take in

Items 5-8: you are writing a formal letter or email. Choose the most formal option.

5. I would like to ___ a copy of my bank statement for the last six months.

____ a) get ____ b) obtain ____ c) grab

6. I will ___ the full amount in twelve monthly payments.

____ a) repay ____ b) pay back ____ c) give back

7. I am writing to ___ a refund for the faulty product.

____ a) get ____ b) ask for ____ c) request

8. Please keep your receipt as proof that you ___ the item from our store.

____ a) bought ____ b) purchased ____ c) picked up

Exercise B: Word formation

Complete each sentence with the correct form of the word in capital letters. Write ONE word.

1. Many young couples cannot find ____ housing in big cities. (AFFORD)

2. Buying a small apartment can be a good long-term ____. (INVEST)

3. A private ____ put money into the start-up and now owns part of the company. (INVEST)

4. The government wants to support ____ growth in rural areas. (ECONOMY)

5. This washing machine is very ____: it uses little water and electricity. (ECONOMY)

6. She keeps her ____ in a separate account for emergencies. (SAVE)

7. Banks check whether a ____ has a regular income before they give a loan. (BORROW)

Vocabulary: Money and Everyday Finance

Money and Everyday Finance

Part A: Collocations

Part B: Word families

Part C: Formal words

Exercise A: Choose the best option

Exercise B: Word formation

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