financial
relating to money or how money is managed
EXAMPLE: Her car broke down, so she is having some financial difficulties right now.
fund
an amount of money collected, saved, or provided for a purpose
EXAMPLE: Every month I save some money and put it in my child's college fund. When he is 18, there will be enough to pay his college tuition!
get out of debt
not owe money anymore
EXAMPLE: We had a lot of credit card debt, and this made us feel very uncomfortable. My husband got a second job and, in one year, we were able to get out of debt!
put aside
save
EXAMPLE: Every month, we put aside $200. Soon we will have enough money to go on a vacation!
retirement
the time when you leave your job and stop working
EXAMPLE: My father went into retirement when he turned 68 years old.
set up
open or start
EXAMPLE: We didn't have any money saved in case of emergency. This made us nervous, so we set up an emergency fund. Now we have $2,000 available in case something goes wrong.
unexpected expense
something you suddenly have to pay for
EXAMPLE: My car broke down and now I have an unexpected expense. It is going to cost $800 to fix it!
upcoming expense
something you have to pay for soon
EXAMPLE: Let's plan for the future. Let's make a list of all of our upcoming expenses. We will need to save money so we can pay for them.
accomplish
to succeed in doing something good
EXAMPLE: I worked very hard over the weekend, and I accomplished a lot. I cleaned out the garage and mowed the yard.
add up
grows
EXAMPLE: I save $50 every week, and it adds up quickly. After one year, I will have $2,600!
aim
goal
EXAMPLE: My brother just got a second job. His aim is to save up enough money for a down payment on a house.
budget
a plan that shows how much money you have and how you will spend and save it
EXAMPLE: I am tired of not having enough money at the end of the month. Let's create a budget. Then we will know how much we can spend.
crisis
a time that is extremely dangerous or difficult
EXAMPLE: There was a fire in my apartment building. All of the tenants had to leave and now we have no place to stay. We are in a crisis!
encourage
(verb) to make someone more likely to do something. To give support, confidence, and hope.
EXAMPLE: Teachers always encourage their students to do their homework. Why? Because it will help the students improve their skills!
every little bit counts
we should respect small amounts
EXAMPLE:
A: Now that I'm working only part time, we can save only $20 each week.
B: Every little bit counts!
get by
(phrasal verb) to have enough money to pay for basic needs
EXAMPLE: Now that you work full time and I have a part-time job, we have enough money to get by.
get rid of
(phrasal verb) to throw something away, or give it or sell it to someone because you don't want it now
EXAMPLE: Now that we live near a bus stop, let's get rid of our second car. We don't need it anymore and we can save a lot of money!
I can't stress enough that . . .
I really want you to hear what I am saying!
EXAMPLE: I can't stress enough that it is important to be careful with credit cards. If you can't pay them off at the end of each month, cut them up and throw them away.
in particular
especially
EXAMPLE: Political problems are found all over the world. The United States in particular has very serious problems politically.
interest
the extra money that you must pay to a bank or credit card company which has loaned you money
EXAMPLE: I bought a TV for $400 using my credit card. If I don't pay the credit card in full at the end of the month, I will have to pay the $400 plus interest.
struggle
(verb) to try very hard to do something difficult
EXAMPLE: They struggled to save money. They could put only $50 aside each week, and it was not easy!
There's no question that . . .
I am sure.
EXAMPLE: There is no question that people should have an emergency fund. That way they have less to worry about if they lose their job or have an unexpected expense.