Phrasal Verbs for Money: A Comprehensive Guide for English Learners
Phrasal verbs are an essential part of English, especially when discussing finances. Below is a detailed guide to common phrasal verbs related to money, including meanings, examples, and exercises.
1. Pay off
Meaning: To repay a debt in full.
- She finally paid off her student loans after ten years.
- We need to pay off the mortgage before retirement.
- He paid off his credit card balance to avoid interest.
2. Save up
Meaning: To accumulate money over time for a specific purpose.
- They are saving up for a down payment on a house.
- I need to save up before I can afford a new laptop.
- She saved up enough money to travel around Europe.
3. Run out of
Meaning: To have no money left.
- We ran out of cash during our vacation and had to use a credit card.
- He ran out of money before payday and had to borrow some.
- The company ran out of funds and had to close.
4. Cut back on
Meaning: To reduce spending.
- They decided to cut back on dining out to save money.
- I need to cut back on unnecessary expenses this month.
- The government is cutting back on public spending.
5. Put aside
Meaning: To save money for future use.
- She puts aside $100 every month for emergencies.
- We should put aside some money for retirement.
- He put aside a portion of his salary for his children’s education.
6. Splash out on
Meaning: To spend a lot of money on something, often as a treat.
- She splashed out on a designer handbag for her birthday.
- They splashed out on a luxury vacation in the Maldives.
- He splashed out on a new gaming console.
7. Live on
Meaning: To survive with a limited amount of money.
- Many students live on a tight budget.
- After losing his job, he had to live on his savings.
- She lives on a small pension.
8. Rip off
Meaning: To charge someone too much money unfairly.
- That restaurant ripped us off with overpriced food.
- I felt ripped off when I saw the same product cheaper elsewhere.
- Tourists often get ripped off in popular destinations.
9. Fork out
Meaning: To spend money reluctantly, often a large amount.
- We had to fork out $500 for car repairs.
- He forked out a fortune for his daughter’s wedding.
- They forked out a lot of money for concert tickets.
10. Get by
Meaning: To manage financially with little money.
- She barely gets by on her part-time salary.
- They get by with careful budgeting.
- We can get by until the next paycheck arrives.
Exercises
Exercise 1: Fill in the Blanks
Complete the sentences with the correct phrasal verb from the list above.
- She had to __________ $200 for the unexpected medical bill.
- We need to __________ unnecessary expenses to save more.
- He finally __________ his car loan last month.
- They __________ a new TV even though it was expensive.
- Many retirees __________ a fixed income.
Exercise 2: Match the Phrasal Verb to Its Meaning
| Phrasal Verb | Meaning |
|---|---|
| 1. Pay off | A. To reduce spending |
| 2. Cut back on | B. To repay a debt |
| 3. Splash out on | C. To spend a lot on something special |
| 4. Rip off | D. To charge too much unfairly |
| 5. Get by | E. To manage with little money |
Answer Key
Exercise 1 Answers
- fork out
- cut back on
- paid off
- splashed out on
- live on
Exercise 2 Answers
| Phrasal Verb | Correct Letter |
|---|---|
| 1. Pay off | B |
| 2. Cut back on | A |
| 3. Splash out on | C |
| 4. Rip off | D |
| 5. Get by | E |