Money and Income

Money and Income
Revenue and Spending
Mr. Yann-Russel Mouanga,

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Empowers#You#BusinessEnglish
I. Currency

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The money used in a country such as
euros, dollars, CFA francs… is its
currency. Money in notes (banknotes)
and coins is called cash. Most money,
however, consists of bank deposits:
money that people and organizations
have in bank accounts. Most of this is on
paper_ existing in theory only_ only
about ten percent of it exisits in the form
of cash in the bank.
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note or bank note: BrE
Bill: AmE

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All the money a person receives or
earns as payment is his or her
income. This can include:

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• a salary: money paid monthly by
an employer or wages: money
paid by the day or the hour,
usually received weekly.
• overtime: money received for

working extra hours

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• commission: money paid to
salespeople and agents_ a certain
percentage of the income the
employee generates.
• a bonus: extra money given for
meeting a target or good financial
results.
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• fees: money to professional
people such as lawyers and
architects.
• social security: money paid by the
government to unemployed and
sick people.

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• Family allowance: money given by
a company or the government to
an employee based on the
number of children they have.
• Uniform allowance: money given
to an employer to buy and
maintain their uniform.
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• Seniority allowance: money given
to an elder employer progressively
after 3, 5, 8, 11 and 11 working
years.
• Danger money: money given to
cover the hazard when an
employer is sent on mission.
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• pension: money paid by a
company or the government to a
retired person.

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Salaries and wages are often paid
after deductions such as social
security charges and pension
contributions.

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Amounts of money that people have
to spend regularly are outgoings.
These often include:

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 Living expenses: money spent on
everyday nees such as food,
clothes, public transportation…
 Bills: requests for payment of
money owed for services such as
electricity,water, gas, phone
wireless connection
 Rent: the money paid for the use
of a house or a flat
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 A mortgage: repayments of
money borrowed to buy a house
or flat.
 Health insurance: financial
protection against medical
expenses for sickness or
accidental injuries
 Tax: money paid to finance
government spending.
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A financial plan, showing how much
money a person or an organization
expects to earn and spends is called
a budget.

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Planned monthly budget for next month (xaf)
Income Outgoings
Salary (after Rent

deductions)
Commission Bills
(average)
Food and drinking
Clothes
Public transportation
Tax
Donation
Total Mr. Yann-Russel Mouanga,Total

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I. Complete the sentencs with words
from the box.

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commission bonus uniform earn mortgage
allowance
tax overtime danger rent salary

money
social seniority pension currency family

security allowance allowance

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After I lost my job, I was living on
…1… for three months. This was
difficult, because the amount was
much lower than the ……2…. I had
before.

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I used to work as a salesperson, but I
wasn’t very successful, so I didn’t
…… 3.. much …4…. Our company
went on bankruptcy because of the
sanitary and financial crises.

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If the company makes 10 % more
than last year, we’ll all get a …5…. at
the end of the year.
It’ll take me at least two decades to
repay the ……6…. on my house.
They told me that our ……7…. has
been devaluated because of the
inflation of prices.
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My wages aren’t very good, so I do a
lot of …8…..
Nearly 40% of everything I earn goes
to the government as …9…..
The owner has just increased the
…..10….. on our apartment by 15%.
In the past, I used to have …11….. for
risky missions.
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They even gave me …..12….. to clean
my overalls.
I used to receive …13….. to care
about my children.
I received ……14…. as I am among the
eldest workers in the company.
When I retire, my ……15.. will be 60%
of my final salary
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II. Are the following statements true
or false? Provide reasons for your
answers.

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1. Bank deposits are not classified as
money.
2. People earning wages get paid more
often than people earning a salary.
3. People working on commission
always get paid the same amount.
4. When you stop working at the end of
your career, you receive a person.
5. Most people pay a rent and a
mortgage. Mr. Yann-Russel Mouanga,
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At home write down your monthly budget
and email it at this email address:
ymouanga.dgc@univpro-afrique.com

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Money and Income

Revenue and Spending

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

• overtime: money received for

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Salary (after Rent

Total Mr. Yann-Russel Mouanga,Total

Mr. Yann-Russel Mouanga,

tax overtime danger rent salary

social seniority pension currency family

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

Mr. Yann-Russel Mouanga,

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