Essential Finance Terms: Key Words and Phrases Explained

Are you in the finance sector and looking to enhance your English skills? Aspiring for a higher salary? Or perhaps you want to boost your personal finance vocabulary? We’re here to assist you! Improving your English proficiency can unlock new career opportunities and empower you to better manage your finances. Let’s take your skills to the next level!

Today, we’re excited to boost your English skills and broaden your vocabulary by exploring fascinating words and expressions commonly used in the world of finance.

Let’s not waste any time. Here we go!

Finance Vocabulary: Basic English Words about Finance

• Access [ækses]
• Advertising [ædvərtaɪzɪŋ]
• Accounts payable [əˈkaʊnts peɪəbl]
• Accounts receivable [əˈkaʊnts rɪˈsiːvəbl]
• Accrue [əˈkruː] (i.e. compound interest)
• ATM (Automatic Teller Machine)
• Balance sheet [bæləns ʃiːt]
• Budget [bʌdʒɪt]
• Business plan [bɪznəs plæn]
• Cash [kæʃ]
• Commission [kəˈmɪʃn]
• Commensurate [kəˈmenʃərət]
• Currency market [kɜːrənsi mɑːrkɪt]
• Checking account [tʃekɪŋ əˈkaʊnt]
• Closing costs [kloʊzɪŋ kɑːsts]
• Ergonomic [ɜːrɡəˈnɑːmɪk]
• Early payoff [ɜːrli peɪˌɔf]
• Expenditure [ɪkˈspendɪtʃər]
• Fee [fiː]
• Financial advisor [faɪˈnænʃl ædˈvaɪzər]
• Fixed assets [fɪkst æˌsets]
• Flow [floʊ]
• Insurance policy [ɪnˈʃʊrəns pɑːləsi]
• Income [ɪnkʌm]
• Inquire [ɪnˈkwaɪr]
• Intangible assets [ɪnˈtændʒəbl æˌsets]
• Interest rate [ɪntrəst reɪt]
• Inventory [ɪnvəntɔːri]
• Invest [ɪnˈvest]
• Legal tender [liːɡl tendər]
• Liabilities [laɪəˈbɪlətiz]
• LLC (limited liability company) [ˈlɪmɪtɪd laɪəˈbɪləti kʌmpəni]
• Mortgage [mɔːrɡɪdʒ]
• Partnership [pɑːrtnərʃɪp]
• Personal loan [pɜːrsənl loʊn]
• Profit [ˈprɑːfɪt]
• Rate [reɪt]
• Real estate [riːəl ɪˈsteɪt]
• Retail bank [riːteɪl bæŋk]
• Shareholder [ʃerhoʊldər]
• Sole proprietor [soʊl prəˈpraɪətər]
• Total costs [toʊtl kɑːsts]
• Transfer [trænsˈfɜːr]
• Variable costs [veriəbl kɑːsts]
• Withdrawal [wɪðˈdrɔːəl]

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Phrases About Income

• Earn money/Earn a fortune
• Make money/Make a fortune
• Build up funds/savings
• Get/receive a legacy
• Leave an inheritance
• Live on a low wage
• Live on a fixed income/live on a pension
• Get/receive/draw/collect a pension

Phrases About Spending Money

• Spend money/savings/a fortune on…
• Invest/put your savings in … (i.e. the stock market)
• Pay (in) cash
• Use/pay by a credit card/debit card
• Pay by check
• Make out a check/Write a check
• Accept a cheque (check)
• Change/exchange money/currency
• Make a short-term/long-term investment (e.g. an IRA)
• Give/pay/leave a deposit
• Withdraw from bank account/savings account

Phrases and Vocabulary About Financial Difficulties

• Get into debt/financial difficulties
• Run out of money/Owe money
• Face/get/be landed with a bill for $(a specific amount of money)…
• Incur/accumulate debts
• Tackle/reduce/settle debts
• Pay off overdraft fees

Other Finance Vocabulary Resources 

If you’re in the finance sector and looking to enhance your English skills, check out these valuable online resources we’ve curated just for you:

• Career Paths: Finance – Virginia Evans. Express Publishing, 2012.
• Professional English in Use: Finance – Ian MacKenzie. Cambridge University Press, 2006.
• English for the financial sector – Ian MacKenzie. Cambridge University Press, 2008.

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