Understanding “personal finance” is crucial for ESL learners like you, as it empowers you to navigate daily life and achieve financial stability in English-speaking environments. From budgeting and banking to understanding taxes and credit, these skills are essential for managing money effectively. Learning this vocabulary is important because financial literacy ultimately contributes to greater independence and overall well-being in your new community. So, let’s jump right in!

5 TERMS

1. Budget (Noun / Verb): A plan for managing income and expenses over a specific period, or to allocate financial resources.

2. Debt (Noun): Money owed to another party, often resulting from borrowing.

3. Interest (Noun): The cost of borrowing money, usually expressed as a percentage of the principal, or earnings on investments.

4. Invest (Verb): To allocate money or resources to an asset, such as stocks or real estate, with the expectation of earning a return.

5. Savings (Noun): Money set aside for future use, typically in a bank account or other secure form.

ENGLISH RESOURCES

• A special English resource for you: Master English Tips Pack

• Check out today’s practice lessons in the English With Tiffani App

• Watch this English video: 1000 English Words And Expressions | The Simple Formula To Learn And Use Them