Unit 14 Money and well-being

Word

Definition

Example

financial literacy

Understanding how to manage personal finances

Financial literacy is essential for making informed money decisions

currency

A system of money in general use in a particular country

The currency exchange rate was favorable for international travelers

money management

The process of budgeting, saving, and investing money

Effective money management is crucial for long-term financial stability

money market

A segment of the financial market where short-term borrowing can be issued

The money market was influenced by various economic factors

pocket money

A small amount of money for everyday expenses

The children used their pocket money to buy snacks at the school cafeteria

money laundering

The illegal process of making large amounts of money generated by a criminal activity appear to have come from a legitimate source

The authorities cracked down on money laundering activities in the city

paper money

Physical currency in the form of banknotes

The use of paper money became widespread during the Renaissance

sponsorship money

Funds provided by a sponsor to support an event or activity

The sponsorship money from local businesses helped fund the community event

counterfeit money

Fake currency created to imitate genuine currency

The bank teller was trained to recognize counterfeit money

money box

A container used for saving money

He saved spare change in the money box for his next vacation

cash reserves

Money or other assets held by an organization to meet its financial obligations

The company used its cash reserves to navigate through the economic downturn

cash flow

The total amount of money being transferred into and out of a business

The positive cash flow enabled the company to expand its operations

cash settlement

A payment made in the form of cash

The cash settlement for the property was completed within a week

cash crop

A crop grown to be sold rather than for personal use

The region's main cash crop was wheat, which thrived in the fertile soil

currency speculation

The act of buying and selling currencies with the aim of making a profit from fluctuations in exchange rates

Currency speculation was a risky investment strategy in the volatile market

currency fluctuation

The rise and fall in the value of one currency in relation to another

Currency fluctuation often impacts import and export prices

credit arrangement

An agreement in which a borrower receives something of value in exchange for a promise to repay the lender at a later date

The credit arrangement with the bank allowed the business to purchase new equipment

credit facilities

Financial instruments that allow consumers to borrow money or obtain goods and services on credit

The bank offered credit facilities to small businesses in the area

credit transfer

The movement of funds from one account to another

The credit transfer between accounts was completed without any issues

debt repayment

The act of paying back money previously borrowed

Timely debt repayment was necessary to maintain a good credit score

debt burden

The total amount of debt that a country or individual owes

The growing debt burden was a significant concern for the company's financial health

debt mountain

A large and unmanageable amount of debt

The student loan debt mountain was a significant issue for many recent graduates

savings account

A bank account that earns interest on the deposited money

She opened a savings account to save money for her future goals

consumer spending

The amount of money spent by households on goods and services

Consumer spending increased during the holiday season

government spending

The total amount of money that a government spends on public services and projects

Government spending on infrastructure projects increased job opportunities

consumer expenditure

The total amount of money spent by households on goods and services

The consumer expenditure data revealed a spike in retail sales during the festive season

welfare expenditure

Government spending on social welfare programs and initiatives

Welfare expenditure was necessary to support the needs of vulnerable populations

capital income

The money earned from investments or assets

The capital income from investments provided a steady source of revenue

household income

The total amount of money earned by all members of a household

Household income determined their standard of living and ability to save

state finances

The financial resources and management of a state or government

The state finances were carefully managed by the finance department

dimension

A measure of the size of something in a particular direction

The new project added a new dimension to the company's offerings

establish

To set up or create something, typically a business, system, or organization

The company sought to establish itself as a leader in the industry

bartering goods

Exchanging goods or services for other goods or services without using money

In ancient times, people would often barter goods for necessary items

purchasing process

The series of steps that a consumer takes to make a purchase

The purchasing process was streamlined to improve efficiency and reduce costs

commodity money

Physical goods that have value and are used as a medium of exchange

Commodity money, such as gold and silver, was used for trade in ancient civilizations

identifiable

Able to be recognized or distinguished

The suspect was easily identifiable in the security footage

consciousness

The state of being aware of and responsive to one's surroundings

Environmental consciousness has grown among consumers in recent years

belief

An acceptance that something exists or is true, especially without proof

Her strong belief in the project's success kept her motivated during challenging times

integrity

The quality of being honest and having strong moral principles

The politician's integrity was questioned after the corruption scandal

loyalty

A strong feeling of support or allegiance

The customer's loyalty to the brand resulted in repeat purchases and positive reviews

trust

Firm belief in the reliability, truth, or ability of someone or something

Building trust among team members was essential for effective collaboration and productivity

wellbeing

The state of being comfortable, healthy, or happy

The company implemented new policies to improve employee wellbeing and job satisfaction

rely

Depend on with full trust or confidence

They could rely on their team to deliver high-quality work and meet deadlines

satisfaction

Contentment derived from fulfillment of one's needs or desires

Customer satisfaction was a top priority for the company's success and growth

observable phenomena

Events or occurrences that can be perceived through the senses

The scientist studied observable phenomena in the natural world to understand ecological patterns

bear on

To have relevance or influence on something

The new evidence would bear on the outcome of the ongoing investigation

generally speaking

As a rule or in most cases

Generally speaking, the project was a success, despite a few minor setbacks

circumstance

A fact or condition connected with or relevant to an event or action

The circumstances surrounding the accident were still under investigation

crucial

Extremely important or necessary

The crucial decision would determine the future direction of the company

array

A wide variety or range of something

The store had an impressive array of products to cater to the diverse needs of its customers

correlate well with

Have a mutual relationship or connection with

The data seemed to correlate well with the initial hypothesis

emphasise the importance

To highlight or stress the significance of something

The speaker emphasised the importance of early childhood education

behaviourism

A psychological approach that emphasizes the study of observable behavior

Behaviourism is a psychological theory that focuses on observable behaviors

by and large

Generally; mostly

By and large, the event was considered a success by the attendees

observable

Able to be noticed or perceived

The scientist made several observable observations during the experiment

meaningful data

Information that is relevant and significant

The research provided meaningful data for the ongoing study

abundance

A very large quantity of something

The region was known for the abundance of fresh produce during the harvest season

unprecedented economic growth

An extremely high or remarkable increase in economic activity that has not been seen before

The country experienced unprecedented economic growth in the last decade

bounded measures

Quantifiable elements that have limitations or constraints

The experiment used bounded measures to ensure accurate data collection

unmet user requirements

Needs or expectations of users that have not been fulfilled

The software update aimed to address the unmet user requirements

gauge

Estimate or determine the magnitude, amount, or volume of

They used a thermometer to gauge the temperature of the water

handing down

Passing or transferring something to the next generation or to someone else

Handing down family traditions was important for maintaining cultural heritage

philanthropic behaviour

Actions or activities aimed at promoting the welfare of others

Her philanthropic behavior included regular donations to various charities

in spite of

Regardless of; even though

In spite of the rain, they decided to continue with the outdoor event

trepidation

A feeling of fear or agitation about something that may happen

She entered the dark cave with a sense of trepidation and fear

invest in

To put money, effort, or time into something to make a profit or achieve a result

The company decided to invest in new technology to improve efficiency

loan

A sum of money that is borrowed and expected to be paid back with interest

They obtained a loan from the bank to finance their new business venture

praised for

Publicly expressed admiration or approval for something

He was praised for his exceptional performance in the competition

lay down the law

To issue instructions or orders in an authoritarian manner

The teacher had to lay down the law to maintain discipline in the classroom

contribute

To give something, especially money, in order to help achieve or provide something

Each team member was expected to contribute to the group project

anxiety

A feeling of worry, nervousness, or unease about something with an uncertain outcome

The upcoming exam caused a lot of anxiety among the students

beneficial

Favorable or advantageous, resulting in good

Regular exercise has many beneficial effects on overall health

vast majority

A large proportion or number that is significantly larger than the remaining minority

The vast majority of the population supported the new policy

correlation

A mutual relationship or connection between two or more things

The study found a strong correlation between smoking and lung cancer

a greater proportion

A larger or more significant part or share of something

A greater proportion of the budget was allocated to research and development

accuse

To charge someone with an offense or crime

The suspect was accused of committing the crime based on the evidence

adhere to ethical code

To follow a set of principles or guidelines related to moral conduct

The company required all employees to adhere to an ethical code of conduct

as diverse as

Varied or different in nature or form

The city's population was as diverse as it was vibrant and dynamic

compromise principles

To accept standards that are lower than desired or expected

He refused to compromise his principles, even in the face of adversity

counterfeit

A fraudulent imitation of something valuable

The counterfeit currency was difficult to distinguish from the real bills

set of principles

A collection of fundamental beliefs or rules

The organization operated based on a set of principles that emphasized integrity and honesty

take a moral stand

To adopt a position based on ethical considerations

The activist decided to take a moral stand against social injustice