Partie 4 : Réalités économiques

Chapitre 36 : Money matters

Money to buy things, page 78

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a steady income
the purchasing money
to spend money on something
to save
a banknote, a bill
a coin
small change
to pay by credit card or in cash
plastic money
to be short of cash
to withdraw money
a withdrawal
the exchange rate
cheap as chips

In some countries it’s difficult to find a cashpoint that will not charge to take out money.

Bank accounts, page 78

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a branch
a window, a counter, a desk
a clerk
online banking
a saver
to manage one’s financial resources
a current account/a savings account
a bank transfer
to lend
an overdraft
to be hard up
to borrow from somebody
to take out a loan
a mortgage
to charge interest
to pay off debts
to repay, to pay back, to reimburse
a standing order

With a bank transfer it is possible to send money to an account anywhere in the world.

A commercial bank provides services such as making loans, and offering mortgages.

An investment that yields 2% per annum is a good return with a 1% inflation rate.

Food for thought, page 79

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It’s easy to imagine a cashless world, in which all payments would be made electronically. This would imply that more and more individuals are equipped with portable card readers to accept virtual payments, even your kids when you want to give them pocket money, but this is a fair way off yet. Until then, it’s still pennies in the piggy bank.

Some people like the idea of a cashless economy, if only because it would lead to a safer society. Indeed, electronic payments have caused the rate of burglary, assault and larceny to fall recently. It would drop dramatically if we got rid of cash altogether. Also, all transactions would be visible — if digital money were to take over — , which would be a good thing for the overall economy. It would also mean the end of undeclared work.

However, many experts say it’s important for young children to have coins, as they’re tangible and they really mean something to them. And then you have buskers and wishing fountains to consider…