Different classifications for money (Vocabulary)
Fee: An amount of money paid for a particular piece of work or for a particular right or service. Example: University fee. Alimony: A regular amount of money that a law court orders a person to pay to his or her partner after a divorce. Dowry: In some societies, an amount of money or property that a woman’s parents give to the man she marries. Debt: Money that is owed to someone else. Loan: An amount of money that is borrowed, often from a bank, and has to be paid back, usually together with an extra amount of money that you have to pay as a charge for borrowing. Tax: An amount of money paid to the government that is based on your income or the cost of goods or services you have bought. Tip: To give someone who has provided you with a service an extra amount of money to thank them. Fine: An amount of money that has to be paid as a punishment for not obeying a rule or law. Ransom: A large amount of money that is demanded in exchange for someon