MONEY

1. General glossary

                       

1. investment statement (phr.) – инвестиционен отчет

2. cope with (v.) – справям се с

3. outperform (v.) – превъзхождам в представянето

4. return (n.) – възвръщане, данъчна декларация

5. rebound (v.) – отскачам, рикоширам

6. dependable (adj.) – надежден

7. romance novel (phr.) – любовен роман

8. drop (v.) – капя, падам

9. roll in (v.) – стичаме се, трупаме се

10. retire (v.) – пенсионирам, оттеглям се

11. going on vacation (phr.) – отиване на почивка

12. asset (n.) – актив, придобивка

13. deteriorate (v.) – влошавам, израждам, корумпирам се

14. downturn (n.) – спад, тенденция към намаляване

15. reap (v.) – жъна, пожънвам

16. sow (v.) – сея, посявам

17. derail (v.) – провалям, дерайлирам

18. consistent (adj.) – последователен, логичен

19. investing (n.) – инвестиране, влагане

20. averaging (n.) – осредняване

21. compound interest (n.) – сложна лихва

22. dividend (n.) – дивидент, делимо

23. bush (n.) – храст, храсталак

24. versus (prep.) – срещу, в сравнение с

25. reward (n.) - отплата       

26. steady (adj.) – стабилен, постоянен, устойчив

27. hatch (v.) – люпя, мътя се

28. stock (n.) – акции, инвентар

29. decline (n.) – упадък, намаляване, влошаване

30. conversely (adv.) – обратно

31. volatile (adj.) – променлив, непостоянен

32. liquid account (n.) – ликвидна сметка

33. deposit account (n.) – депозитна сметка

34. household expenses (n.) – разходи за домакинството

35. set aside (n.) – слагам настрана

36. discount (n.) – отстъпка, намаление, сконто

37. owe (v.) – дължа

38. income (v.) – доход

39. liability (v.) – задължение, дълг, отговорност

40. fee (n.) – такса

41. excessive (adj.) – прекомерен, прекален

42. mutual fund (n.) – взаимен фонд

43. henhouse (n.) – кокошарник

44. cautiously (adv.) – предпазливо, внимателно

45. fraud (n.) – измама, измамник, позьор

46. fake (adj.) – фалшив; n. имитация, фалшификация, измислица

47. fake documents (phr.) – фалшиви документи

48. chaff (n.) – плява, слама

49. wheat (n.) – пшеница, жито

50. checklist (n.) – контролен списък

51. financial advisor (n.) – финансов съветник

52. banker (n.) – банкер, зидарски тезгях                 

53. accountant (n.) – счетоводител

54. resolve (n.) – решителност, кураж

2. Word definitions

Word	Definition
Investment statement (инвестиционен отчет)	A monthly report on a person’s investments
Blue chip (сините чипове)	A stock that sells at a high price because of public confidence in its long record of steady earnings
A nest egg (бели пари)	An amount of money that you have saved
Compound interest (сложна лихва)	The interest that has been added to the principal and also itself earns interest
Volatile investment (волатилни инвестиции)	Insecure, unstable investment
A rainy day (тъмни времена)	A time of need or trouble
Liquid account (срочен депозит)	Money deposit that can be easily accessed
Interest rate (лихвен процент)	The percentage of a sum of money charged for its use
Mortgage rate (ипотечен процент)	Interest charged by banks on house-purchase loans
Liabilities (пасив)	Financial obligations
Mutual fund (взаимен фонд)	The pooled money that is invested in assets
Watchdog (куче пазач)	A guardian or defender against theft or illegal practices or waste

  

3. Proverbs and their meaning

№	Proverb	Meaning
1.	You reap what you sow (Каквото посееш това ще пожънеш)	You will either enjoy the benefits or suffer the consequences of your earlier actions or inactions
2.	The early bird gets the worm (рано пиле рано пее)	Success comes to those who prepare well and put in an effort
3.	A bird in the band is worth two in the bush (птичка в ръката е повече от две в гората)	Something that you already have in your possession is better than going after something seemingly more worthwhile that you may not be able to get
4.	Don’t count your eggs before they hatch (не слагай рибата в тигана преди да си я уловил)	Don’t be hasty in evaluating your assets
5.	Get you ducks in a row ()	Get your affairs in order, organize well
6.	Don’t put all your eggs in one basket (не слагай всички яйца в една кошница)	You should not risk everything in a single venture (рискована работа, търговска спекулация)
7.	You can’t make a silk purse out of a sow’s ear ()	You cannot make something more valuable and worthy than it is by nature
8.	Don’t let the foxes guard the henhouse ()	Don’t assign a job to someone who will then be in a position to exploit it for his own ends
9.	Separate the wheat from the chaff (отсявай сеното от плявата)	You should distinguish between things that are worthy and valuable and those which are not
10.	Every cloud has a silver lining (всяко зло за добро)	Every bad situation has some good aspect to it

4. Completing the sentences with the expressions  

1. Immediately recognized as legal tender (законно платежно средство) for purchases and to settle outstanding debts, currency remains the single most common of all liquid assets that are used on a consistent basis by retail customers (клиенти на дребно).

2. What you’ll receive by return mail a few weeks later is basically a transaction record (разписка на плащанията), similar to a bank statement (банково извлечение), nothing all the goings-on between you and the IRS.

3. If it is not an original, it has to be a certified copy (заверено копие), certified by a Mexican notary public.

4. I’ve been in debt for the past eight years and have quite severe areas on all my utility bills (сметки за комунални услуги) and rent.

5. When cash flow (паричен поток) came to a halt (спиране, застой), the company found itself awash (тласкан от вълните) in debt.

6. The numbers are based on the amount of income you declare on your tax return (данъчна декларация) and whether you filed as single or married.

7. Payday loans offer the appeal to consumers of being fast, convenient and not paper-intensive (often, not much more than a current bank statement, pay stub and proof of residence)

8. When the opening bell sounded at the New York Stock Exchange (Фондова борса) this morning, traders hoped for a lucky Friday the 13^th.

9. Ordinarily, employers cover 70% or more of an employee’s health insurance premium (премия за здравно осигуряване)

10. The first half of the season has provided a volatile market, full of unexpected upswings and surprising downturns (изненадващи спадове).

11. Essentially, a liquid asset (ликвиден актив) is a cash or any type of negotiable (които може да се прехвърли, договори) asset that can be converted quickly and easily into cash.

Usage note: IRS and HMRS

IRS: Internal Revenue Service is the tax collection agency for the United States government. It is responsible for collecting all federal taxes. Its counterpart in the United Kingdom is HMRC: Her Majesty’s Revenue and Customs.

5. Completing the sentences using appropriate verbs

1. Diversify (разнообразявам) your investments by owning a mix of stocks and bonds based on your individual needs and your philosophy about investment risks.

2. By educating yourself and moving cautiously, you may stay clear of (да се предпазиш) fraud (измама).

3. Job losses or other unexpected events can derail (провалям, дерайлирам) the highly structured payment plans (силно структурираните схеми на плащане).

4. He trots out (привеждам) the same excuses every time.

5. Economic conditions are still too uncertain to inspire the scale of business investment that would produce enough jobs to offset (компенсирам, обещетявам) the millions already lost.

6. As the economy starts to rebound (отскачам, възродявам се) from the recession, a lot of people in the new business wonder if this includes them.

7. Goldman’s trading allowed the firm to weather (устоявам на, суша, излагам на атмосферни влияния) the financial crisis better than most other big banks.

8. Does this prospective (бъдещ, вероятен) management team have enough experience and discipline to stay clear of trouble (беда, тревога, безпокойство).

9. Apparently these companies not only survived, they’ve begun to thrive (процъфтявам, преуспявам).

10. The biggest task may be simply persuading lawmakers that the situation is urgent enough to warrant (гарантира, дава основание за) rewriting national policy

    

11. A lender (заемодател) can charge (задължавам, искам цена) an origination fee (a fee charged by a lender on entering into a loan agreement to cover the cost of processing the loan.) of 2 percent of the first $20 000, plus another 1 percent for amounts over that.

12. Rates on 30-year fixed-rate mortgages averaged 6.13 percent this week.

13. Small businesses fear they could go to the wall before their economies rebound.

14. Half a dozen states are considering freezing tax refunds (възстановяване на данъци) as a way to offset cash flow problems.

15. She was generous in her giving. She had done nothing to warrant such chilly treatment. 

16. Another reason to add commodities to your investment mix – one that’s especially relevant to those approaching retirement age – is to offset inflation.

6. Collocations with verbs (derail, diversify, offset, weather, outperform, accumulate)

Verb	Part
Derail (провалям)	project, negotiations, reform, campaign, career, plan
Diversify (разнообразявам)	portfolio, investments, crops, the local economy, energy
Offset (уравновесявам)	losses, costs, expenses, excessive fees, liabilities
Weather (устоявам на)	Crisis, an economic downturn, a recession, the ups and downs of the market
Outperform (представям се по-добре)	one’s peers, competitors, the market average
Accumulate (натрупвам)	savings, arrears (просрочия), debts, interest (лихва)

7. Completing the sentences using the following words and expressions

1. The company’s strong financial position is enabling (позволява, дава възможност) it to weather the current economic downturn (икономически спад) better.

2. One of the bad habits is the practice of non-payment (неизплащане) of dues and the accumulation of huge arrears (просрочия).

3. A special phone number is available for anyone who is suspicious of fraud (измама) or mismanagement (лошо ръководство).

4. Lenders (заемодателите) accept a recent pay stub (малко плащане) or government check as proof of income.

5. Regular investment of small amounts of money is an excellent way of building nest egg.

6. The economic integration of Europe took place in the midst of an almost unprecedented economic upswing (икономически подем), which increased people’s standard of living year after year.

7. Canada kept the old rules in place, requiring banks to hold higher amounts of capital to offset their liabilities (пасив).

8. A drop and subsequent rebound (последващо възстановяване) in the euro steered the Dow Jones Index from a loss of 184 points at midday to a gain of almost 6 by the close.

9. Your travel agent can usually book this for you, sometimes for an extra charge (доплащане).

10. Solvency (платежоспособност) should be a simple financial concept: if your assets (активи) are worth more than your liabilities, you are solvent; if not, you are in danger of bankruptcy (банкрут).

11. Commodities can be volatile, but adding them to a portfolio can actually reduce overall volatility (общата променливост).

8. Completing the sentences using the adjectives

1. The bankruptcy courts are at fault for allowing insolvent carriers (неплатежоспособни превозвачи) a seemingly (привидно, както изглежда) limitless (неограничен, безграничен) period to reorganize.

2. Get your financial house in order. Reduce your outstanding debt (неизплатен дълг) and clear up any problems with your credit record (кредитна история).

3. Despite its $9 billion in cash and liquid investments (ликвидни инвестиции), Dell has long resisted paying a dividend.

4. We wanted to assemble (събирам, сглобявам) a diversified (разнообразен), dependable (надежден, сигурен) portfolio of stocks for the long term – a selection that could soar when the market did but also hold steady during darker times.

5. There has been a lot of doubt that a coffee company could be developed in a way that would provide ongoing growth (продължаващ растеж).

6. I think that there is a certain amount of level-headed thinking (уравновесено мислене) that’s coming in, back into the electorate.

7. The real estate market isn’t liquid – you can’t cash out at a moment’s notice.

8. Innovative new business models have made the economy more efficient and business cycles less volatile.

9. He wasn’t interested in managing his portfolio, so he would consider paying for ongoing investment advice (текуща инвестиционна консултация).

10. Euronet Worldwide is a thriving company (процъфтяваща компания) with a healthy long-term outlook (здравословна дългосрочна перспектива).

USAGE NOTE: affect and effect

To affect (засягам, влияя, въздействам, вълнувам, трогвам) means to act upon or influence, especially in an adverse way, to have an effect on. It also means to put on a false show of, to imitate, simulate. To effect (извършвам, подействам, постигам) means to bring into existence, to produce as a result. When used as a noun, effect means something that is produced by a cause or agent; a result.

9. Completing the text using appropriate words and expressions

Nearly everyone lost money in the recent market downturn (пазарен спад). It was, by many measures (мерки) the toughest time (най-трудното време) for investors since the Great Depression. U.S. stocks tumbled (падам, катурвам се, прекатурвам) and so did foreign stocks (чуждестранните акции). Just about everything else fell, and as a result, many investors – probably yourself included – saw their nest egg shrink (стопявам се, свивам се). Even though the past months have seen a bit of a comeback (завръщане, обезщетение), investors are still scratching (чеша, почесвам, дращя, одрасквам) their heads, wondering if the old rules for investing still apply.

A rash (епидемия, обрив) of media stories called for abandoning the diversified portfolio, or adopting new tactics, such as market timing (jumping in and out of the stock market in the hopes of buying low and selling high). Other stories have advocated just keeping your money under the proverbial (пословичен) mattress. Investors are listening.

We’re here to tell you that you might want to think twice before following the pack (глутница, пакет, вързоп) and abandoning the tried and true –the well-diversified, broad portfolio of stocks and bonds and cash. Here’s why.

Cash is costly. Keeping your money in cash may spare you from market volatility, but in the long run, the return (възвръщане) on a diversified portfolio of 60 percent stocks and 40 percent bonds still clobbered cash. According to Morningstar, the respective 30-year returns on the diversified portfolio, after accounting for inflation, were three to four times that of a portfolio held in cash.

Specific winners and losers are unpredictable, too. If, instead of diversifying your portfolio, you try to zero in on individual securities or small segments of the market, you may be adding to your risk, but not your return. “People are often overconfident (самоуверен) in thinking they can pick one stock or perhaps one industry that is going to do well,” says Don Bennyhoff, a senior investment analyst (инвестиционен анализатор) at Vanguard Investments. “Professional investors often do a very poor job when they attempt such picks – the average investor won’t even do that well.”

USAGE NOTE: economic and economical

Economic means of or relating to an economy or to the science of economics. Economical means prudent (предпазлив) and thrifty (пестелив) in management; not wasteful (прахоснически, разточителен) or extravagant; intended to save money, as by efficient operation or elimination of unnecessary features.

                                                                

10. Studying the following synonyms and useing them to complete the sentences below

№	Verb	Meaning
1.	Gather (tr/intr)	means to bring or come together in a group
2.	Collect (tr/intr)	frequently refers to the careful selection of like or related things that become part of an organized whole
3.	Assemble (tr/intr)	Implies a definite and usually close relationship. When used with persons, it suggests convening out of common interest or purpose; when used with things it implies gathering and fitting together components
4.	Congregate (intr)	Refers chiefly to the coming together of a large number of persons or animals
5.	Accumulate (tr/intr)	Applies to the increase of related things over an extended period
6.	Amass (tr/intr)	Refers to the collection or accumulation of things, often valuable things, to form an imposing quantity
7.	Accrue (tr/intr)	Is to increase, accumulate, or come about as a result of growth or over time
8.	Garner (tr)	Means to gather and store

1. The main goal of the company is to accumulate a broad portfolio of small stakes in many companies.

2. Full-time workers (работниците на пълен работен ден) accrue an average of six sick-leave days per year.

3. Under the bill, loan originators (инициаторите, основоположниците) will be required to collect all of their fees upfront (авансово).

4. He was apparently trying to assemble a team to carry out the operation.

5. The senator had spent much time garnering financial support for his upcoming campaign.

6. I do believe it’s my job to collect taxes, but it’s also to protect the taxpayers interests.

7. People must be able to gather peacefully, and defend their rights both in writing and orally.

8. Many Google products have raised red flags among privacy groups, because they often provide new ways for the company to collect information about users.    

9. College loans (студентските заеми) for children are one frequent reason why women amass/accumulate debt late in life

10. Consistent investing (последователното инвестиране) over time is the best way to accumulate a nest egg.

11. On the other hand, the program has been expensive, and its benefits accrue to people who are already affluent enough to buy a home.

12. The curator (попечител) is assembling an interesting exhibit of Stone Age artifacts.

13. The emerging world (развиващия се свят) soon began to accumulate large quantities (големи количества) of reserves, reducing its vulnerability (уязвимост) in responding to the crises.  

14. The project aims to have local manufacturers (местните производители) assemble the machines.

15. The Chinese will always garner profit in whatever field they employ their considerable talents (значими таланти).

16. To amass knowledge without becoming wise is not my idea of progress in therapy (лечението).

17. All manner of dogs and owners congregate in the park each morning.

18. So long as he continues to straddle (възсядам) the fence, Bennet will garner campaign contributions from both labor and business groups.

19. When the conditions of educational institutions and health facilities for African Americans are improved positive benefits will accrue for all citizens.

20. After several failed attempts to amass a fortune and spread his vision in Korea, he moved to the United States.

21. It is a creative physical environment where entrepreneurs, scientists and researchers would gather, exchange ideas and interact.

22. Because New Jersey law does not recognize a fetus () as a person, the women could not collect wrongful-death damages.

11. Phrasal verbs and their meanings

Phrasal verb	meaning
Make out (разбирам)	Be able to see or hear something
Make out (установявам)	Establish, prove
Make over ()	Change or transfer the ownership of
Make up for (приготвям се за)	Try to compensate for doing something wrong
Make away/off with ()	Snatch (грабване, посягане) and steal
Make up ()	Reconcile (примирявам, помирявам), stop being angry with
Make out ()	Pretend (претендирам); lead people to believe
Make up (съчинявам)	invent
Make out (разбирам, проумявам)	Get along (справям се), manage
Make out (попълвам)	Write (a document), fill in

12. Completing the sentences using a suitable phrasal verb with make in the correct form

1. We were descending toward the city skyline (силуета на града), and I still could not make out anything that resembled an airport.

2. Poor service (лошото обслужване) does not make for satisfied customers.

3. You can accept this as an extra compensation payment to make up for the stress you have been caused.

4. Unlike (за разлика, противно на) so many fancy (фантазе) American TV dramas, Mad Men doesn’t require the viewer (телезрител) to pause and replay the DVD to make out what’s being said.

5. I need someone to make out the invoices (фактурите).

6. They are creating a new non-profit organization to help the University of Colorado make over its public image.

7. She’s given me so much. I don’t know how I’m ever going to make it up to her.

8. Once they’ve bought the apartment they can make it over to suit themselves.

9. He bought me dinner to make up for being late the day before.

10. Less than half of the money that students receive is in the form of grants (дарения), and loans make up the difference.

11. Thieves raided the premises (помещенията) and made away $10 000 in cash.

12. Your grandfather isn’t a very good actor. He tried to make out that he was deaf (глух, неотзивчив), but I wasn’t taken in.

13. He made for the toilet as soon as we got home.

14. Bob turned over to sleep again, wondering how Jupiter and Pete were making out.

15. For every $ 100 you invest in a pension plan the Inland Revenue (вътрешните приходи) makes up to $ 125.

16. Before dying she made over to her only living niece most of the land.

17. His brilliant explanation makes for a better understanding of the whole issue.

13. Idiomatic expressions and their meanings

Idiomatic expressions	Meaning
Make a (firm) stand against	Aggressively striving for financial or social improvement
Make ends meet (свързвам двата края)	Manage so that one’s means are sufficient for one’s need
Make do with	to use what is available although it is not enough or what you wanted: “Can you make do with $5 for now and I’ll give you the rest tomorrow?”
Have the makings of	Have all the qualities to become something
To be making of someone	Be the means or cause of progress or success, as in “Marriage will be the making of him”. This idiom, using making in the sense of "advancement," was first recorded about 1470.
Be on the make	to be trying very hard to get more money and power
Make much of make light of	to give a lot of importance to something “Curtis claimed to be one-eighth American Indian and made much of this in his political career. Her campaign made much of economic issues at the party convention”.
Make a day/night of It	to continue with an enjoyable activity during all of (a day/night/morning/afternoon/evening) <Since we're going out to dinner anyway, let's make an evening of it and go to a movie afterward.>
Make a point of	to always do something or to take particular care to do something: “She makes a point of keeping all her shopping receipts.”
Make a meal of something	to treat something as more important or serious than it really is “I know I was wrong, but you don’t need to make such a meal of it.”
Make as if to	If you make as if to do something, you seem as if that is what you are going to do: “He made as if to speak.”
To be in the making	in development; in the process of developing. “This is a real problem in the making. Let's try to keep it from getting any worse.”
Make one’s day	To ensure the pleasure and distinction of one's whole day : getting the computer fixed made her day
Make hay	to use an opportunity to get the most benefit “Critics continue to make hay over the president's lack of self-discipline.” Usage notes: usually said about a competitive situation
Make a bundle	to earn a lot of money: “They made a bundle selling their business.”

1. A revolution is already in the making. We must take care.       

2. Don’t trust him to give you a bargain. He is always on the make.

3. Your son has the makings of an excellent engineer.

4. Two years in the navy will probably be the making of him.

5. John really made a bundle on the deal.

6. He really made a meal of that job. It took him four hours.

7. The candidate’s opponent made hay of the scandal with his ex-wife.

8. There is no meat in the house, so we will have to make do with potatoes.

9. He made as it to hit me, but he was only pretending.

10. We must make a firm stand against the lowering of educational standards.

11. Robert attempted to make light of his separation with Julia.

12. It was Sunday the next day, so we decided to make a night of it and go to a night club.

13. I’ll make a point of the asking her today. I’ve been ignoring it for too long.

14. She made much of the fact that you lied to her.

15. Just seeing the little man eating pancakes can make my day. 

16. The people in these communities work two or three jobs just to make ends meet.