Money Words in Real Life

Let me tell you about the price of things. The price is the money you see on the label. This means the number you see before you buy something. Yesterday I went to the shop. The price of the bread was two pounds. The price of the milk was one pound fifty. I looked at all the prices first. Then I decided what to buy.

Sometimes shops use a different word. They talk about the cost. The cost is how much money you need to pay. This means the same as price but we use it in different ways. People say ‘What does it cost?’ or ‘The cost is high.’ Last week my friend asked me about a new phone. I said ‘The cost is very high. Maybe wait for next month.’

Now I will tell you about other money words. When you go to the doctor or the lawyer, you pay a fee. A fee is money for a service. This means you pay for someone’s work or help. My doctor’s fee is thirty pounds. The gym fee is twenty pounds every month. I pay the fee at the desk.

When you travel on a bus or train, you pay a fare. The fare is money for transport. This means the cost of your journey. The bus fare in my city is two pounds. The train fare to London is fifteen pounds. I always check the fare before I travel.

Some places make a charge for things. A charge is money you must pay for something extra. This means an additional cost. The hotel makes a charge for breakfast. The charge is ten pounds. The car park has a charge too. The charge is five pounds for two hours.

After you use electricity or water, you get a bill. A bill is a paper that shows money you must pay. This means a document with the amount you owe. My electricity bill comes every month. Last month the bill was sixty pounds. I paid the bill online.

Businesses use a different word. They send an invoice. An invoice is a formal document for payment. This means a business paper that asks for money. My friend has a small business. She sends invoices to her customers. The invoice shows the work she did and the money they need to pay.

Some things have a rate. A rate is a fixed amount for something. This means a standard price that stays the same. The hotel rate is eighty pounds per night. The taxi rate is two pounds per kilometer. The interest rate at the bank is three percent. I always ask about the rate first.

Some countries have a tariff. A tariff is a special price list or tax. This means official prices or charges. When you bring things into the country, you sometimes pay a tariff. The tariff on clothes is ten percent. The tariff on electronics is fifteen percent.

Many services now offer a subscription. A subscription is regular payment for continued service. This means you pay every month or year to keep using something. I have a music subscription. I pay ten pounds every month. My sister has a magazine subscription. She pays fifty pounds every year. The subscription gives you access all the time.

Now you know all these money words. Remember to use the right word in each situation. When you shop, look at the price. When you travel, pay the fare. When you use services at home, pay the bill. When you join a gym or use apps, get a subscription. These words will help you every day.