Money - buying, selling and paying

1. Personal finance
Sometimes in a shop they ask you: How do you want to pay?
You can answer: Cash/ By cheque/ By credit card

_ In a bank you usually have a current account, which is one where you pay in your salary and then withdraw money to pay your everyday bills.
_ The banks sends you a regular bank statement telling you how much money is in your account.
_ You may also have a savings account where you deposit any extra money that you have and only take money out when you want to spend it on something special.
_ You usually try to avoid having an overdraft (n- số tiền chi trội) or you end up paying a lot of interests.
_ If your account is overdrawn (adj- rút quá nhiều), you can be said to be in the red (as opposed to in the black or in credit).

_ Sometimes the bank may lend you money - this is called a bank loan, If the bank (or building society) lends you money to buy a house, that money is called a mortgage (n- tiền thế chấp).
_ When you buy (or, more formally, purchase) something in a shop, you usually pay for it outright (adj- hoàn toàn, toàn bộ) but sometimes you buy on credit.
_ Sometimes you may be offered a discount or a reduction (n- sự giảm bớt) on something you buy at a shop. This means that you get, say, 10$ off perhaps because you are a students.
_ You are often offered a discount if you buy in bulk. It is not usual to haggle about prices in a British shop.
_ If you want to return something which you have bought to a shop, you may be given a refund (n- hoàn trả, trả lại), i.e. your money will be returned, provided you have a receipt.
_ The money that you pay for services, e.g. to a school or a lawyer, is usually called a fee or fees; the money paid for a journey is a fare (n- tiền xe, tiền vé).
_ If you buy something that you feel was very good value, it's a bargain.
_ If you feel that it is definitely not worth what you paid for it, then you can call it a rip-off (very colloquial).

2. Public finance
_ The goverment collects money from citizens through taxes.
_ Income tax is the tax collected on wages (n- tiền công) and salaries.
_ Inheritance tax is collected on what people inherit from others.
_ Customs or excise duties have to be paid on goods and services when they are bought or purchased.
_ Companies pay corporation tax on their profits (n- lợi nhuận).
_ If you pay too much tax, you should be given some money back, a tax rebate (tiền giảm bớt).

_ The government also sometimes pays out money to people in need, e.g. unemployment benefit (also known informally as the dole), disability allowances and student grants (to help pay for studying).
_ Recipients draw a pension (n- lương hưu)/ unemployment benefit or are on the dole or on social security.
_ Every country has its own special currency. Evey day the rates of exchange are published and you can discover, for example, how many dollars there are currently to the pound sterling.
_ A company may sell shares to members of the public who are then said to have invested in that company. They should be paid a regular dividend on their investment, depending on the profit or loss made by the company.

Answer the following money quiz:
What currencies are used in Japan, Australia, India and Russia?
_ yen, dollar, rupee, rouble.
What does the expression, 'hard currency', mean?
_ It is any currency which is reliable and stable.
Name two credit cards which are usable world-wide.
_ America Express and Visa
Give two examples of imports that most countries impose (v- áp đặt, đánh thuế) customs duties on.
_ Alcohol and tobacco.
Give three examples of kinds of income that would be classed as unearned.
_ Rents from property; winnings from gambling; interest from investments.
What is the Dow Jones index and what are its equivalents in London and Japan?
_ It is an index used for calculating the value of shares on the Stock Exchange in New York. The FT (or Footsie) Index in London and the Nikkei in Japan.
Give an example of something that is priceless and something that is valueless.
Name the coins and bank notes used in your country and one other country.

The words with their definitions:
interest - money chargeable on loan
mortgage - a loan to purchase property
an overdrawn account - a bank account with minus money in it.
savings account - an account that is used mainly for keeping money.
current account - an account that cheques are drawn on for day-to-day use.
pension - money paid to people with a handicap.
disability allowance - money paid towards the cost of raising a family
grant - money given by the goverment for education, social welfare (phúc lợi xã hội), etc.