IELTS Vocabulary: Money and Finance Vocabulary

Expand your understanding of financial concepts with this list of essential terms and their definitions. Currency: The type of money used in a particular country, such as dollars, euros, or yen. Exchange Rate: The value of one currency compared to another when exchanged. Interest: The additional money earned on savings or charged on borrowed money, typically as a percentage of the amount. Credit Card: A bank-issued card that allows you to borrow money to make purchases, repayable with interest. The Cost of Living: The average cost of essential goods and services, such as housing, food, and transportation, in a specific area or country. Fee: A fixed charge for a service, such as tuition, legal advice, or membership. Cash: Physical money in the form of notes and coins. Invest: To allocate money with the expectation of generating a profit or income, such as in stocks, property, or business ventures. Bank Loan: Money borrowed from a bank, which must be repaid with interest over an agreed period. Ba…