Money and prices are common topics of conversation in everyday life, whether you are at home, at work, or on vacation. Especially if you are travelling, you will often have to talk about money and the price of items and services. That’s why you need this lesson on ten words for talking about money and prices. I will teach you words like “rate”, “charge”, “fee”, “commission”, “cashback”, “coupon”, and more. For each word, I will give you an example of a sentence you can use it in. By the end of the lesson, you will have the vocabulary you need the next time you go shopping or travelling in an English-speaking country. But if you use these English words when shopping in a non-English-speaking country, you may be charged more!
Take the quiz: https://www.engvid.com/real-english-vocabulary-money-prices/
1. 50 ADJECTIVES TO DESCRIBE WHAT YOU SEE, FEEL, HEAR, SMELL, and TASTE: https://www.youtube.com/watch?v=DjKCXBHvMQw&index=12&t=0s&list=PLpRs5DzS7VqpcTS7hXJU4ARPwSETGI1gy
2. 8 WAYS TO ASK 'CAN I?' https://www.youtube.com/watch?v=rVUi_vcq7b8&index=22&t=0s&list=PLpRs5DzS7VqpcTS7hXJU4ARPwSETGI1gy
Hello, there, and welcome back to engVid. In today's lesson we are going to have ten words that come from the world of banking and business, but have an everyday function; that have a function if you are a holidaymaker and are looking at exchanging money, for example, or just going to another place and using money. Let's face it - we've all got to use it.
So, first word today: "rate". There's a couple of different meanings of this word. It can mean the cost of something; or used as a verb: "What do you think of something?" Let's have some practical examples. "What is your rate for...?" Or: "Give me your best rate." What we're... We're thinking here is... Is sort of price; cost. "What is your best rate? I want your best rate." Particularly if you go to a country where haggling is more of a norm, then you're going to be trying to negotiate. Here in the UK things tend to be... there tends to be a set price for certainly things in a shop. "How would you rate...?" So: "How would you rate the service provided? What do you think of it?"
Moving on to our second word: "commission". Okay? This word, if we're thinking of a slice... You know, a whole pizza, and there is a middle man... So, for example, I'm booking a hotel in India and I have someone there who is doing the booking for me, then he's going to take a small slice of the pizza and eat it for himself, and the rest of the pizza will go to the hotel. Metaphor; obviously we're talking about money. A practical example of "commission": "We charge 0% commission." Let's put this into another context. Let's say I'm going to Spain and I want some euros so that I can have some money there, I go along to the sort of money exchange, and they say: "We charge 0% commission." That's great. Just be warned that their rates may be not so friendly; they're going to make their money from the rate, not the commission.
Next word: "charge". Now, this can be both a noun and a verb. "Are there any extra charges?" Okay? Say I'm paying for a hotel in Spain: "Are there any extra charges?" Taxes, for example. Used as a verb: "What do you charge? What do you charge?" Or: "My charge is..." Okay? If you're saying what you'd like to be paid for a day's work, for example.
"Fee". This is a noun. Again, it relates to payment. "My fee is..." Or: "The fee for this is..." Or: "We do charge a fee of..." Okay? Saying we're still at the money exchange: "We do charge a fee of..."
All right. "Cost" and "price", this, relating to amount of money. "So the overall cost for changing 100 pounds into euros is..." Or... "So the overall cost for 100 euros is 80 pounds." Okay? "Cost".
Next words: "transfer". So, a word that may pop up in your science textbook; it's really relating to this idea of change, and it can be used both as a noun and as a verb. We're going off on this holiday to Spain. "I just received a transfer from my friend." That means they changed money from their account into my account. Well, hey, off to the beach. Pina colada for me. Or: "I made my transfer..." Let's say, for example, that I was flying from London to Paris; from Paris to Barcelona - I don't know why I would because you could fly straight, but let's just pretend: "transfer" is getting the changing flight. So, it's making sure that when you're in Paris, you get onto that change; that next flight - the change of flight.
So, there I am in Spain. Now there's been a new development - a plot development because I have just had a "cut" in my salary. Now, "cut" means something taken off. So I now have less money that I am being paid each month. Because of this, I am going to need to make a "cutback". "Cutback" is a noun; means a reduction. I'm going to need to make some cutbacks in my spending. Now, you can also use this as a phrasal verb. For example: "I will need to cut back..." […]