Can Banks Ask You Where You Got Your Money?

Check your vocabulary for TOEFL

MONEY AND FINANCE

Complete sentences and paragraphs 1 – 20 with a word or expression from the box. In apiece eccentric, the word / formulation you need is connected in some way with the word in bold in the corresponding time / paragraph (for exemplar, information technology might have a similar meaning, it mightiness be an opposite, or it might be a word that is sometimes confused therewith word). In some cases you might require to change the form of the word in the box.

balance money box bankrupt bargain bill borrow broke smash cash check cost of realistic credit notice credit debt debit entry deposit discount distribution of wealthiness dividends economical economize outrageous expenditure extravagant scotch income income tax rising prices inherit insolvent interest group in the black in the red invest investment invoice lend loan loss securities industry mortgage on credit overcharged overdraft expensive pension priceless profit receipt reduction refund salary save savings and loan association shares statement stocks tax / take (etc) rebate undercharged unemployment / living accommodations / child (etc.) social welfare wage wealthy welfare withdraw worthless

1	Income is the money you welcome (your wage Oregon salary is part of your income), and _____________refers to the money you spend.
2	If you lend money, you let someone use your money for a certain period of meter. If you _____________ money, you take someone's money for a short time, and past you pay IT hindmost.
3	A discount rate is the percentage by which a full price is reduced in a store. A _____________ is money paid back to a client when, for example, they return something to a put in.
4	If a person or caller is belly-up , they have lost complete their money. If a individual or company is _____________, they make lost each their money, have then borrowed a good deal, and cannot pay back IT dorsum.
5	A bank instruction is a detailed transcribed document from a savings bank showing how much money has gone into and come out of a bank account. A _____________ is the sum of money you have in your bank invoice.
6	If your bank news report is in the red , the quantity of money you have spent is greater than the money you take up made, and thusly you have less than $0 in your bank report. If your account is _____________, you accept more $0 in your cant account.
7	An invoice is a government note, or neb, sent to you to invite payment for goods or services, and a _____________ is a note (from a store, e.g.) which shows how much you deliver postpaid for something.
8	When you stool a profits , you gain money from selling something which is much than the money you paid for it. When you make a _____________, you sustain spent money which you have non gotten back.
9	Something which is expensive is likewise expensive. Something which is _____________ costs a great deal more than than its true apprais.
10	If you save money, you preserve IT so that you hindquarters use it after. If you _____________ money, you put it into property, stocks, etc., so that IT will increase in evaluate.
11	A wage and a _____________ are both money you receive for doing a occupation, but the first is ordinarily remunerative day-to-day operating theatre weekly and the second is ordinarily paid monthly.
12	A worthless object is something which has no evaluate. A _____________ object is an extremely valuable object.
13	If you deposit money in an bill, you put money into the account. If you _____________ money, you take it out of your account.
14	If you give been undercharged , you have paid to a lesser degree you should have for goods or services. If you ingest been _____________, you have paid too much.
15	Extravagant describes soul who spends a lot of money. _____________ describes someone World Health Organization is careful with money.
16	A bill is a sheet of paper screening the amount of money that you have to compensate for goods or services. A _____________ is the Lapp thing, but shows what you have to pay after a repast in a restaurant.
17	When you credit an account, you pose money into IT. When you _____________ an score, you take money out of information technology.
18	A trust is a business which holds money for its clients, and deals with money generally. A _____________ is similar, but is usually used away people WHO want to lay aside money, Beaver State to borrow money to buy a house.
19	A lend is money that you borrow from a savings bank to buy something. A _____________ is similar, but in this case the money is only used to buy property.
20	A loan is money that you borrow from a bank, where a formal system has been made with the cant to take over it. An _____________ is the sum of money that you take out of your bank account, which is much there is in your account. Information technology is usually through without fashioning a formal arrangement with your bank.

Exercise 2

Practice your dictionary to determine the meanings of the other speech and expressions in the box. Bank bill that many of them can have to a higher degree unrivaled grammatical function without changing their frame (for example, balance can be a noun and a verb). Likewise note that several of the words can have more than one meaning (for good example, a government note is a banknote, and it is also a piece of report screening you how much you have to pay for a product or service).

Exercise 3

Accomplished this conversation with appropriate words and expressions from the box in Exercise 1. You may involve to change the form of some of the words.

"Financial advice from a father to a son"

In the play "Hamlet" by Shakespeare, a father gives his son some financial advice. "Neither a borrower nor a lender be", he says. He is trying to separate his boy that He should never (1) _____________ money from anyone because it volition pretend it difficult for him to manage his finances. Likewise he should ne'er ease up a (2) _____________ to a supporter because he will probably never see the money again, and will probably fall back his friend besides.

The play was written over four hundred years agone, but today many parents would give replaceable advice to their children. Think the conversation they would have today.

Jim:	Right pa, I'm off to college now.
Daddy:	All right son, but let me give you both sound financial advice before you go.
Jim:	Oh come on dad…..
Dad:	Immediately listen, this is probatory. The best thing you should do is to make sure you balance your (3) _____________ – the money you receive from me and mammy – and your (4) _____________ – the money you spend. If you drop too overmuch, you will wind up with an (5) _____________ at the bank. Don't wait me to pay it for you.
Jim:	But IT's so difficult. Things are so expensive, and the (6) _____________ goes up all the time. (7) _____________ is running at about 10%.
Dad:	I know, merely you should try to (8) _____________. Avoid expensive stores and restaurants. Too, leave your money in a good local (9) _____________ account . They offer a much higher rate of (10) _____________ than Sir Joseph Banks. Besides, avoid buying things (11) _____________.
Jim:	Why?
Dad:	Because some stores charge you an (12) _____________ amount of money to buy things over a time period. It's much amend to (13) _____________ a little bit of money each week soh that when you see something you want, you nates pip out outright. Endeavor to wait for the gross revenue, when stores provide huge (14) _____________ and you can pick up a (15) _____________. And try out to get a (16) _____________.
Jim:	How fare I do that?
Dad:	Easy. When you buy something, ask the store if they'll lower the terms by, say, 10%. Next, when you sooner or later get a job and are earning a ripe salary, try to (17) _____________ the money in a good company. Buy (18) _____________ in government organizations Beaver State (19) _____________ in private companies.
Jim:	OK dad, I've heard sufficiency. Thanks for the advice. It's been (20) _____________.
Dad:	Well, it's true what they say: there are some things that money just can't buy.

Exercise 4

Now try this essay. Employment actor's line and expressions from the mental lexicon box seat in Exercise 1, and any other words OR expressions that you think would comprise relevant.

Some people say that "Money makes the world go wheel-like"; others sound out that "Money is the root ofall evil". Which of these do you agree with? Use examples and details in your resolution.

ANSWER KEY