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.