Download this IELTS Speaking Lesson PDF
Introduction
In IELTS speaking there are often questions involving money, shopping, spending and saving, as well as cheap and expensive things.
In this free IELTS Speaking lesson on the topic of MONEY, you will learn vocabulary and expressions to talk about all these things.
Keith O'Hare
I have taught over 10,000 students from over 20 different countries worldwide on my online courses, many having passed the exam with a band 7, 8 and even some 9s, so hopefully, I know what I am doing! Enjoy this lesson!
What you will Learn
IELTS Vocabulary: Money
Here is some useful vocabulary, including word collocations to talk about ambitions in IELTS Speaking. Be careful to use the right collocations when learning and practicing new vocabulary.
See the examples below. We start with the most common mistake…
I gain money X ☹️
I earn money 😁 (by working / by adding value)
I win money 😁 (by gambling at a casino)
The following are more collocations and expressions you may use with ‘money’.
You can make money if you invest wisely
You can earn a fortune if you are lucky
You can donate money (to charity)
The following 4 expressions mean “He spends a lot”
- He is a spendthrift
- He spends money like nobody’s business
- She spends money like there is no tomorrow
- He has more money than sense
The following expressions mean “It was expensive”
- It cost an arm and a leg
- It cost a fortune
- I paid over the odds
- I paid through the nose
- They charged an exorbitant price
These expressions can be used to say something is cheap.
- It is going for a song
- It is dirt cheap (=very cheap)
- It is dead (=very) cheap
- It is cheap as chips
Buying Expensive Things
The following are all related to spending a lot of money
- I like to fork out on gifts
- I like to splash out on clothes
- I am happy to dig deep (into my pockets) and buy expensive things if they are valued for money.
- I often splurge out on new books
- I tend to spend lavishly when it comes to clothes shopping
The following are all related to NOT spending a lot of money
- Yes, but I need to keep an eye on my wallet
- No, I can’t afford it
- No, I am a bit strapped for cash at the moment (= don’t have much money)
- I am on a tight budget at the moment
- I am on a shoestring budget (= don’t have much money)
- No, I am quite frugal/thrifty (=careful with money)
Expensive activities
What activities would you say are expensive?
- Some sports need pricey equipment, like golf, paragliding, scuba-diving.
- Travelling can be expensive, especially if you go to first class.
- International travel can cost a lot too.
- Taking a holiday can cost an arm and a leg, especially when you stay in 5-star hotels
- Collecting things (e.g. classic cars, antiques in general…) can be expensive
Idioms about money in IELTS Speaking
The following are all idiomatic expressions or idioms on the topic of money.
Which of the following are true for you?
- I am a bargain hunter(= like looking for things that are good value for money)
- I love to splash out when I go shopping for clothes
- I like to save for a rainy day
- Right now, I know someone who is living on a shoestring
- I don’t have enough money to make ends meet (= to get by or to survive)
- We had to live from hand to mouth (=had little money)
- I am strapped for cash these days (=have little money)
- He’s rolling in it (=he is very rich/ he is loaded)
- I am going to splash/fork out on a new computer (=spend a lot of money)
Student's Questions about MONEY
Keith, do you think it is ok to lend money to friends or family members?
Well, I think, by and large, I think, it’s absolutely fine to lend money to friends or family members. I know some people have reservations about doing that, but for me friends and family members, when they are in need or if they need a helping hand, then, you know, I think we should be the first person to help them out. So, if a…., my brother or my sister asks for money, I would probably go ahead and lend it to them. Provided, I had enough money to do that, I mean, I wouldn’t put myself in debt and go into the red in order to help them by lending them money. So, it would have to be some money I had put away or put aside and then I were free to use and help them out. So, for me, I think it’s absolutely fine to do that.
Keith, is money everything for you?
OK, not at all, by no means, by no stretches of the imagination. Whilst, on the one hand, I think money is important, we need enough money to buy clothes and food and to enjoy a comfortable lifestyle and may be it’s nice to splash out every once in a while and treat yourself to something special, maybe, some clothes or something similar, but for me, certainly money is not everything. I think, there are many more important things in life, such as relationships with friends and family, enjoying the little things or the little moments in life. I know it’s a bit of a cliché, but smelling the flowers, a beautiful view, watching a funny moment where the kitten is rolling on the floor playing with the wool. Those are also very important things. So, whilst I think money is important, it’s not the most important thing for me.
Useful links
Great article and videos about who controls the finances in the family.
Watch the video and make notes of useful phrases and collocations, as well as ideas you could talk about in your IELTS Speaking test.
http://www.abc.net.au/news/2018-03-02/questions-to-ask-your-partner-about-money/9349162
More Free IELTS Speaking Lessons
If you liked this lesson, leave a comment below!
There are more lessons you can follow in the links below too.
MOBILE PHONES in IELTS Speaking. Learn vocabulary of phones and ideas to talk about how we use phones in our lives.
SKILLS in IELTS Speaking. Learn the collocations and adjectives to talk about skills we learn and need.
SHOPPING in IELTS Speaking. Learn the essential vocabulary for this topic, as well as how to talk about online shopping.
Hi Keith,
I’m one of your fans. These are really useful for us. Your are one of the great teachers in my life. Could yo please add lessons about “Speech” and “Story”?
With Respect,
Ms. Isabella Rosy
Thanks for the suggestion Isabella!
I found some minor grammar mistakes in the following sentences, in which I think “cost” should be “costs” instead 🙂
The following expressions mean “It was expensive”
It cost an arm and a leg
It cost a fortune
Yes, unless you are writing in the past tense, in which case ‘cost’ is correct. Thanks for pointing this out.
Thank you for your explanation 🙂