Money and Incom

Money:

Money can be in notes (banknotes) أوراق نقدية and coins عملات معدنية, and in this case it is called cash نقدي.

-The money used in a country like: euros, dollars, pounds, …etc is its currency عملة.

-Most money consists of bank deposits.

 

Bank deposits الودائع المصرفية :

money that people and organizations have in bank accounts. Most of this is on paper and only about 10% of it exists in the form of cash in the bank.

 

Personal Finance  تمويل شخصي :

1). Income  دخل :

All the money that a person receives  or earns يكسب as payment.

The income can include:

- Salary الراتب: money paid monthly by the employer.

-Wages أجور: money paid by the day or the  hour, usually received weekly. 

-Overtime أجر العمل الإضافي: money received for working extra hours.

-Commision عمولة: a certain percentage of the income the employee generates. It is money paid to salespeople مندوبي المبيعات and  agents عملاء.

- Bonus علاوة: extra money given for meeting a target or for good financial results.

-Fees الرسوم: money paid to professsional people such as lawyers and architects in exchange for advice or services .

-Social security الضمان الاجتماعي: money paid by the government to unemployed and sick people.

-A pension مَعاش: money paid by a company or the government to a retired person.

2). Outgoings المصروفات:

Amounts of money that people have to spend ينفق regularly. These can include:

- Living expenses نفقات المعيشة: money spent on everyday needs such as clothes, food, and public transport.

-Bills فواتير: requests for the payment of money owed المستحقة for services such as electricity, gas, and telephone connections.

-Rent إيجار : the money paid for the use of a house or flat.

-A mortgage رهن: repayments of money borrowed to buy a house or flat.

-Health inssurance تأمين صحي: financial protection against medical expenses for sickness or accidental injuries.

-Tax ضريبة: money paid to finance government spending.

Planned monthly budget for next year (€)

Income		Outgoings
Salary (after deductions)	3,250	Rent	900
Commission (average)	600	Bills	250
		Living expenses	1,200
		Health insurance	130
		Tax	800
Total	3,850	Total	3,280

 

Exercises:

-Complete the sentences with the following words:

Commission, overtime, tax, pension, bonus, earn, rent, currency, mortgage, social security, salary

1). After I lost my job, I was living on ………………….. for three months. This was difficult, because the amount was much lower than the ………………………….I had before.

2). I used to work as a salesperson, but I wasn’t very successful, so I didn’t ……………………. Much ……………………….

3). If the company makes 10% more than last year, we will all get a …………………at the end of the year.

4). It’ll take me at least 25 years to repay the………………….on my house.

5).Many European countries now have the same ……………………, the euro.

6). My wages aren’t very good, so I do a lot of ……………………

7).Nearly 40% of everything I earn goes to the government as……………………………

8). The owner has just increased the ………………….. on our flat by 15%.

9). When I retire, my ………………………..will be 60% of my final salary.