📝 Daily Short Practice
🎯 Vocabulary Goal
Learn useful vocabulary for talking about money and everyday financial activities.
📚 Words & Phrases
| Word or phrase | Simple meaning | Example |
|---|---|---|
|
make a payment |
to give money for something you owe | I need to make a payment for my electricity bill today. |
|
take out a loan |
to borrow money from a bank or lender | She decided to take out a loan to buy a new car. |
|
save money |
to keep money for future use | He tries to save money every month for his holiday. |
|
pay off debt |
to finish paying the money you owe | They worked hard to pay off their debt within two years. |
|
budget for expenses |
to plan how to spend money on things you need | It is important to budget for expenses before going shopping. |
|
check your balance |
to look at how much money you have in your account | I always check my balance before making online purchases. |
🔍 See It in Context
Planning Monthly Finances
Emma wanted to save money for a new laptop. First, she decided to budget for expenses carefully. She made a payment for her phone bill yesterday. Next, she plans to take out a small loan to help with the cost. Emma also checks her balance online every day to make sure she does not spend too much. Last month, she managed to pay off debt from an old credit card. Now she feels more confident about her finances.
💡 Notice the Pattern
Using make a payment vs pay off debt
Make a payment means to give money for a bill or service. Pay off debt means to finish paying all the money you owe.
- I made a payment for the electricity bill yesterday.
- They finally paid off their debt last year.
💬 Useful Examples
- You should budget for expenses before you go shopping.
- I always check my balance before withdrawing money.
- She took out a loan to pay for her university fees.
- We need to make a payment today so our internet service continues.
✏️ Exercise 1 – Fill in the Blanks
1.
I always ____ for my rent before the first of the month (save money / take out a loan / make a payment).
2.
He plans to ____ to buy a new car next year (take out a loan / pay off debt / check your balance).
3.
We need to ____ to cover our daily costs (save money / budget for expenses / make a payment).
4.
They worked hard last year and managed to ____ completely (make a payment / check your balance / pay off debt).
5.
Before buying something expensive, you should always ____ online (check your balance / take out a loan / save money).
🔗 Exercise 2 – Matching
1.
make a payment
2.
take out a loan
3.
budget for expenses
4.
pay off debt
5.
check your balance
✅ Exercise 3 – Multiple Choice
1.
Which phrase means to plan how to spend your money wisely?
2.
If you borrow money from the bank, you ____.
3.
What do you do to find out your current bank account money?
4.
Which phrase means to finish paying all the money you owe?
5.
Which phrase means to keep money for future use?
📝 Use It Yourself
Write 2 to 3 sentences about how you manage your money using phrases from the lesson.
Example:
I try to save money every month by budgeting for expenses carefully. Sometimes I make a payment early to avoid late fees.
🎙️ Speaking Practice
Practice these sentences aloud.
Say:
I need to make a payment for the internet bill today.
Say:
She decided to take out a loan to buy a new phone.
Say:
Do you check your balance before shopping online?
Ask:
How do you budget for expenses each month?
🔎 Answer Key
Exercise 1 – Fill in the Blanks
1. make a payment
2. take out a loan
3. budget for expenses
4. pay off debt
5. check your balance
Exercise 2 – Matching
1. d – to give money for something owed
2. e – to borrow money from a bank
3. a – to plan money for necessary costs
4. b – to finish paying the money owed
5. c – to see how much money is in your account
Exercise 3 – Multiple Choice
1. budget for expenses
2. take out a loan
3. check your balance
4. pay off debt
5. save money