MONEY
Studyjní materiál - handout : Money - buying, selling and paying
excercise 2:
Interest - money chargeable to the loan
mortgage - a loan to purchase property
an overdrawn account - a bank acount with minus money on it
savings account - used for keeping money
current account - day-to day use
pension - money paid to people after certain age
disability allowence - money paid to disabled people
child benfit - money paid towards the cost of family
grant - money given by the government for education, culture, sport..
BANKS
People save money in banks for future use. A man may be paid each wek for his work. He probably will not want to spend all his ppay the day he receives it. It may be risky for him to carry all his unspent money in his pocket, or to hide it at home. So, he may decide to put some of his money in a bank for safekeeping. The money he puts in a bank is called a deposit. This money is credited, or added, to his account. An account is a record of money the depositor has in the bank. When the depositor wants to withdraw , or take out, part of his deposit, the bank must be ready to pay him.
Banks use the money of depositors or loans to those who need loan. The bank that makes the loans is called a lender or creditor. The bank charges the borrower, or debtor, interest for the use of funds. Charging interest for the use of money is the chief source of bank income.
MONEY
MOney is what people use to buy things. People spend money on goods and services. Many people save part of this money by depositing it to the bank. People earn money by performing services. They also earn money from investments, including government bonds, and from their savings accounts. MOney can be anything that people agree to accept in exchange for the things they sell ot the work they do. Today most nations use metal coins and paper bills/notes. Different countries coins and bills look different and have different names. A person can change the money of any country to the exchange rate. Usually, such rates are set by central banks of a country. The value of a countrys currency may change, depending on the economic and political conditions in that country.