Common Idioms For Money - IELTS Reading

Idioms help candidates understand IELTS reading passages. IELTS Reading section can be well prepared with the help of different kinds of idioms. Idioms come in different types, and candidates are able to understand complex IELTS reading passages after learning idioms. These idioms are based on Money and contain different exercises for the candidates to solve.

Topic - Money

Exercise 1

Match idioms A – F with situations 1 – 3

1. having a lot of money
2. having no money
3. very expensive

1. With the rising prices of food and petrol, we all have to tighten our belts these days.

Answer: 2

Explanation: Idiom-Tighten our belts. As the cost is rising, the idiom indicates that you have to spend less

Also check:

2. He’s got a good job and has inherited money from his family, so he’s rolling in it.

Answer: 1

Explanation: Idiom- Rolling in money. This means that the person has a job with good income and has been passed down a lot of money so they are now rich.

100. It’ll cost an arm and a leg to travel there by train.

Answer: 3

Explanation: Idiom- Cost an arm and a leg The train tickets are very pricey.

500. I’ve just been paid, and already I’m in the red.

Answer: 2

Explanation: Idiom- In the red. The person is in debt and needs to pay it off and are unable to use their salary on themselves as the debt takes priority.

5. I’m sure Matthew will lend you the money – he seems to have very deep pockets.

Answer: 1

Idiom. Deep pockets

Explanation: Matthew is rich and can lend money.

6. That trip must have cost them a small fortune.

Answer: 3

Idiom. Cost a small fortune

Explanation: The amount of money used to go on the trip was a large sum.

Exercise 2

Choose the best answer to complete the sentences.

1. I don’t earn much so it’s not always easy to make _______ meet.

1. pockets             
2. ends                                   
3. your belt

2. That meal we had in the hotel restaurant was superb, but it cost_______

1. an arm and a leg                   
2. deep pockets                      
3. the pinch

3. You should do your best not to let your account go into the_______ , or you might get fined by your bank.

1. red                                        
2. ends                                      
3. black

4. They have just received a pay rise. The company they work for has _______

1. an arm and a leg                 
2. to make ends meet             
3. deep pockets

5. We’ll be travelling _______ as the exchange rate is very bad for us just now.

1. on a shoestring                    
2. out of pocket                     
3. in the red

6. Have you seen the size of their house? They must be _______ in it.

1. making                                    
2. rolling                                 
3. draining

1. Answer: b  Idiom. Make ends meet

Explanation: The money you earn is not enough to take care of all your necessities.

2. Answer: a Idiom. Cost an arm and a leg

Explanation: The restaurant had good food but was very pricey so it cost a lot to dine there.

3. Answer: a Idiom. Into the red

Explanation: The person is giving advice that you should spend wisely otherwise you will be in debt.

4. Answer: c Idiom. Deep pockets

Explanation: The company has large revenue so are able to pay more as salary to its workers.

5. Answer: a Idiom. On a shoestring

Explanation: As the exchange rate is not favourable, the person is saying that the money he/she has is bare minimum.

6. Answer: b Idiom. Rolling in it

Explanation: Rolling in money indicates that you have so much money and have a huge house.

Exercise 3

Match sentence halves 1-6 with A-F to make complete sentences.

1. I’ve lost all the money I invested in that company.
2. They’ve both lost their jobs so
3. We had hardly any money but we managed to travel around
4. You should have expected the hidden charges.
5. Some of the insurance companies have deep pockets –
6. We’re all feeling the pinch

1. it’s a struggle to make ends meet.
2. now that the economy is in recession.
3. why don’t you approach them for sponsorship?
4. It was just money down the drain.
5. There’s no such thing as a free lunch after all!
6. on a shoestring.

1. Answer: D

Idiom. Money down the drain

Explanation: The investment the person made ended up in loss so he lost money.

2. Answer: A

Idiom. Make ends meet

Explanation: As both people have lost their jobs they now don't have enough finance to support their basic needs.

3. Answer: F

Idiom. On a shoestring

Explanation:They had very little money to use but they travelled using that.

4. Answer: E

Idiom. Free lunch

Explanation: The person is saying that there are additional changes that are not directly conveyed yet have to be paid.

5. Answer: C

Idiom. Deep pockets

Explanation: Some insurance companies make enough in profit that they can become sponsors.

6. Answer: B

Explanation: Due to the recession, they don't make as much money as they did before.

Exercise 4

Read the statements and answer the questions

1. She had to learn to tighten her belt when she became a student.

Did she have more or less money before she was a student?

​Answer: more

Idiom. Tighten her belt

Explanation: When she was a student she did not have enough funds so had to spend what money she had wisely. Now she makes more money.

2. They’re feeling the pinch more now because they’ve moved to the city.

Do they find it cheaper or more expensive to live in the city?

Answer: More expensive

Idiom. Feeling the pinch

Explanation: The city is more expensive, so they realise that they don't have enough money for commodities.

3. Laura said ‘I’ll give you the money for my theatre ticket tomorrow David. I don’t want you to be out of pocket.’

Who paid for the tickets at the theatre?

Answer: Laura (In the reference link answer is David)

Idiom. Out of pocket

Explanation:  As the money David has is not enough, Laura said she’ll pay for his share.

4. They’ll give us sandwiches and coffee at the meeting but we know there’s no such thing as a free lunch.

Do they have to buy their sandwiches and coffee?

Answer: No

Idiom. Free lunch

Explanation: While they don't have to pay for the sandwiches and coffee, they are expected to return the favour later.

5. Stefan’s piano lessons are just money down the plughole!

Is Stefan doing well at learning to play the piano?

Answer: No

Idiom. Money down the plughole

Explanation: Stefan is not improving in playing the piano, so the money spent for classes isn't doing any good and is a waste.

6. We are really careful about how much electricity we use in order to make ends meet.

Do they find it difficult to pay for their electricity?

Answer: Yes

Idiom. Make ends meet

Explanation: As they don't make enough money they have to be very judicious in their use of electricity.

Exercise 5

Reorder the phrases to make sentences. Add punctuation where necessary.

1. he should not / he was paid / in advance so / be out of pocket
2. so from now on / he has just lost his job / he will have trouble / making ends meet
3.  a swimming pool / be rolling in money / in the garden must / a family who have
4.  a small fortune / to take the whole group / it will cost / on a foreign tour
5.  it seems to me that / to get around is / money down the drain / paying for taxis
6. has deep pockets and / the organization / to pay well / can afford
7.  for tickets / to pay an arm and a leg / to the cup final / we had
8. and even / out of the red / the company / make a profit / hopes to climb

1. Answer: He was paid in advance so he should not be out of pocket.

Idiom. Out of pocket

Explanation: The person was given payment in advance so he should have money and not be in any financial trouble.

2. Answer: He has just lost his job so from now on he will have trouble making ends meet.

Idiom. Making ends meet

Explanation: The person lost his job, so he will have difficulty in buying any basic necessities as he doesn’t have financial support.

3. Answer: A family who have a swimming pool in the garden must be rolling in money.

Idiom. Rolling in money

Explanation: Having a swimming pool is an indicator that they have a lot of money and are well off.

4. Answer: It will cost a small fortune to take the whole group on a foreign trip.

Idiom. Cost a small fortune

Explanation: The amount needed to take a small group on a foreign trip is a huge amount.

5. Answer: It seems to me that paying for taxis to get around is money down the drain.

Idiom. Money down the drain

Explanation: Going on taxis to move from place to place is a waste of money.

6. Answer: The organization has deep pockets and can afford to pay well.

Idiom. Deep pockets

Explanation: The organization makes a lot of money so they are able to pay more to their employees.

7. Answer: We had to pay an arm and a leg for tickets to the cup final.

Idiom. Pay an arm and a leg

Explanation: The tickets to the cup final are very expensive

8. Answer: The company hopes to climb out of the red and even make a profit.

Idiom. Climb out of the red

Explanation: The company currently has debt but is hoping to pay it off and even make a profit in the future.

Exercise 6

Choose the most appropriate thing to say A-F in each situation 1-6.

Choose the most appropriate thing to say A-F in each situation 1-6.

1. We’re wasting a lot of money on this project.
2. We can’t expect to get something for nothing.
3.  We all have to try and spend less money for a while.
4.  We can afford to buy it – we’ve got lots of money.
5.  We haven’t paid back the money the bank lent us yet.
6. We’ll have to try and complete the project as cheaply as possible.

1. We’ve got deep pockets.
2. We’re pouring money down the drain.
3. We’re still in the red.
4. We need to do it on a shoestring budget.
5. We need to tighten our belts.
6. There’s no such thing as a free lunch.

1.

Answer: B

Idiom. Pouring money down the drain

Explanation: The project is causing a financial loss and is wasting monetary resources.

2.

Answer: F

Idiom. Free lunch

Explanation: No favour is free, it needs to be compensated in other ways.

3.

Answer: E

Idiom. Tighten our belts

Explanation: There is not enough money to spend carelessly, it needs to be done with caution so that you wont run out.

4.

Answer: A

Idiom. Deep pockets

Explanation: They are trying to buy something expensive and are ensuring that as they are rich they can pay for it.

5.

Answer: C

Explanation: They have to pay the bank back for its loan and so are not financially well off at the moment as they have a debt.

6.

Answer: D

Idiom. Shoestring budget

Explanation: The budget they can out for this project is a small amount so they can only go for cheap options for finishing it.

Exercise 7

Correct the idioms in these sentences.

1. Worsening economic problems mean that ordinary voters are beginning to feel the pinching.
2. The senator says he will continue his on a shoestring campaign in every part of the state.
3. The company was already in the red side, owing more than three million pounds.
4. Freda didn’t know much about antiques but she was sure the table was worth a deep fortune.
5. They seem to think they can charge a leg and a foot for their services because we all need them.
6. Business organizations across the land are making up their belts and trying to cut costs.
7. If we don’t have results soon, we’ll be accused of throwing money into the plughole.
8. You seem to think that all doctors are lying in money!

1. Answer: Feel the pinch

Explanation: The economy is crumbling so bad that ordinary people are feeling its effects. They have to spend the money wisely and not carelessly.

2. Answer: His shoestring campaign

Explanation: The senator has a low budget so is only using a small amount of money for his campaigns that will take place in every state.

3. Answer: In the red

Explanation: The company has a three million pound debt. They are not financially stable.

4. Answer: A small fortune

Explanation: Even if she isn't well versed in antiques, Freda identified the table as a pricey piece of furniture.

5. Answer: Charge an arm and a leg

Explanation: Because the service is needed and in demand, they charge huge amounts as payment.

6. Answer: Tightening their belts

Explanation: All businesses in the country are trying to limit their budget and not spend too much.

7. Answer: Down the plughole

Explanation: There hasn't been any monetary gains, so if no results are shown, it would be seen as money wasted.

8. Answer: Rolling in money

Explanation: This indicates that the listener is of the opinion that all doctors make a large sum of money.