Shadowing Practice: How to Discuss Budgets, Costs & Expenses at Work In English - Learn English Speaking with Video
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Hi everyone!
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Welcome back to another episode of Talk Business English.
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I'm Anna and I am so happy you're joining us today.
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How are things going with you Jack?
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Hey Anna, I'm doing great thanks, though I have to admit I'm a little tired.
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I spent all of yesterday afternoon looking at my personal expenses
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and trying to figure out where all my money went this month.
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It's a bit stressful, isn't it?
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Oh, I know that feeling exactly.
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Looking at bank statements is never the most relaxing way to spend a Sunday.
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But you know, Jack, that's actually a perfect lead-in for what we're talking about today. Is it?
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Are we going to talk about my bad spending habits?
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Not exactly.
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But we are talking about something very similar.
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Today, we're diving into how to talk about money and budgets at work.
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It's one of those topics that can make people feel a little nervous, especially when you're doing it in a second language.
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That is so true.
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Money is a sensitive topic.
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In a business meeting, if you use the wrong word or sound too direct, it can feel a bit awkward.
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I remember when I first started working, I didn't even know the difference between a cost and an expense in a professional setting.
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I just use them for everything.
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And that's very common.
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Our goal today is to help our listeners feel more comfortable and confident when these topics come up.
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Whether you're asking for more money for a project, explaining why a cost went up, or just discussing the yearly plan, we've got you covered.
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I love that.
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So where do we start?
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When we say budget, what are we really talking about in a business sense?
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Well, think of a budget as a roadmap for money.
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It's a plan that says, we have this much money to spend, and this is how we are going to use it over the next month or year.
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In an office, you'll often hear people talk about staying within budget.
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Right.
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Staying within budget.
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I hear that one all the time.
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It basically means not spending more than you planned, right?
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My boss is always reminding us to stay within the lines.
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Exactly.
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And if you do spend more than planned, we say you have gone over budget.
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That's usually when the stressful meetings happen.
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Oh, I've been in those meetings.
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They aren't fun.
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But what about the money coming in?
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We don't just talk about spending.
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Great point.
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We have to talk about revenue or income.
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For English learners, revenue is a great word to learn.
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It's the total amount of money a company receives from selling its products or services.
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So if I sell 10 coffee mugs for $10 each, my revenue is $100?
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Exactly.
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But that isn't your profit.
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That's another word people often confuse.
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Profit is what you have left after you pay all your expenses, things like the cost of the mugs, the rent for your shop, and your electricity bill.
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Ah, okay.
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So revenue minus expenses equals profit.
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That makes sense.
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I think many learners get stuck on the word expenses.
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Is that just another word for costs?
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They are very similar, Jack.
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In general conversation, you can use them almost the same way.
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But in business, expenses often refers to the regular, ongoing money you spend to keep the business running, like salaries or office supplies.
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Costs might refer to the price of a specific thing, like the cost of production for a new phone.
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That's a helpful distinction.
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I actually had a situation last week where I had to talk to my manager about our travel expenses.
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I had to explain why my train ticket was so expensive.
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I felt like I was in trouble.
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And how did you handle it?
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Did you feel like you had the right words?
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I struggled a bit.
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I think I just said the ticket was a lot of money.
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It sounded a bit, I don't know, childish.
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It's okay to start simple, but a more business-like way to say that might be, there was an increase in travel costs,
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or the travel expenses were higher than anticipated.
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Higher than anticipated.
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I like that.
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It sounds much more professional than, oops, it cost a lot.
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It really does.
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And anticipated is just a fancy way of saying planned or expected.
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It shows that you had a plan, but something changed.
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That's very important in business English, showing that you are thinking ahead.
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You know, another thing I hear a lot is people talking about allocating funds.
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That sounds very serious.
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What does allocate actually mean when we're talking about a budget?
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It sounds serious, but it's actually quite simple.
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To allocate means to decide officially that a certain amount of money will be used for a specific purpose.
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For example, the marketing department might allocate $5,000 for a social media ads.
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So it's like putting money into different envelopes.
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One envelope for ads, one for travel, one for new computers.
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Talk business English.
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Speak English at work with confidence.
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Please visit our website.
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That is a perfect way to visualize it.
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Each envelope is an allocation.
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If you want to buy a new laptop but your envelope for equipment is empty,
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you might have to ask your manager to reallocate funds from another area.
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Reallocate.
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Okay, so moving money from one envelope to another.
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I can see how that would be useful.
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Hey boss, can we reallocate some of the party budget to buy me a faster computer?
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Good luck with that request, Jack, but you used the word correctly.
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Let's imagine a real-life scenario to help our listeners hear how this sounds in a natural conversation.
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Let's say you and I are in a meeting.
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You are the project manager, and I am the head of the department.
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We are discussing the budget for a new website.
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Okay, I'm ready.
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I'll start.
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Ana, I've been looking at the numbers for the new website project.
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I'm concerned that our current budget won't cover the design costs.
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I see.
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How much of a shortfall are we looking at, Jack?
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Oh, wait, let me pause there.
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Shortfall.
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That's a new one.
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Good catch.
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A shortfall is simply the difference between the money you have and the money you need.
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If you have $80 but you need $100, you have a shortfall of $20.
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Okay, I understand.
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So, back to the meeting.
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Well, Ana, we have a shortfall of about $2,000 because the designers increased their hourly rates.
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That is a significant increase.
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Have we already exhausted the contingency fund?
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Exhausted?
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Like the money is tired?
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Not quite.
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When we exhaust a fund or a budget, it means we have used all of it.
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It's completely gone.
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And a contingency fund is extra money kept aside for emergencies or unexpected costs.
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Ah, the just-in-case money.
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So, back to the roleplay.
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Yes, we've exhausted the contingency fund because we had those technical issues last month.
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Do you think we could stretch the budget from the advertising department?
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I'll have to check with them, Jack.
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We need to be careful not to overspend this quarter.
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Let's look at the bottom line and see what we can do.
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Okay, let's stop there.
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That felt like a very real meeting.
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I heard a few great phrases.
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Overspend is pretty clear.
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It means spending more than you have.
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But bottom line?
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I hear that in movies all the time.
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The bottom line is a classic business idiom.
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Literally, it refers to the last line on a financial report, which shows the net profit or loss.
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But in a conversation it means the most important result or the final point.
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So when you said, let's look at the bottom line, you meant let's look at the final result of our spending?
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Exactly.
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Or if someone says, the bottom line is we don't have enough money, they mean that is the most important fact of the situation.
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That is so helpful.
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I think for many of our listeners, the hardest part isn't just the words.
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It's the feeling of having to explain why money is being spent.
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It feels like you're being judged.
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I completely agree.
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And that's why using softening language is so important.
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Instead of saying, we need more money, which is very direct, you can say, we might require additional funding.
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It sounds less like a demand and more like a professional observation.
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Require additional funding.
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It's a bit longer, but it does sound much smoother.
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What about if I have to tell someone that can't spend money?
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As a manager, that must be hard.
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It is.
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Instead of saying, no, you can't buy that, a manager might say, we need to cut back on spending right now, or we are tightening our belts this month.
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Tightening our belts.
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I like that image.
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It means being very careful with money because there isn't much of it.
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Exactly.
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It's a very common idiom.
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You might hear a CEO say, due to the current economy, the whole company needs to tighten its belt.
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It sounds a bit more inclusive, like everyone is doing it together.
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That's a great way to put it.
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It makes it feel less like a no, and more like a we are all in this together.
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Precisely.
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Now, let's talk about some of the specific words we've used today, just to make sure they are clear.
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Remember, don't worry if these feel a bit new or difficult.
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Learning about money is a skill that takes time to develop, even in your own language.
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That's true.
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I still get confused in my own language sometimes.
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So one word you used earlier was revenue.
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You said that's the total money coming in, right?
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Right.
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Imagine a big shop.
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All the money that customers hand to the cashiers throughout the day, that is the revenue.
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It's the top line of the accounts.
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And then we have expenses.
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Those are the bills the shop has to pay.
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Rent, wages for the staff, and the cost of the products they sell.
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You got it!
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And if we want to be more specific, we can talk about fixed costs and variable costs.
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Oh, those sound technical.
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Are they simple?
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They are.
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A fixed cost is something that stays the same every month, like the rent for the office.
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It doesn't matter if you sell one item or a thousand items, the rent is the same.
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Okay, so it's fixed in place.
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And variable costs must be the ones that change.
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Exactly.
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Variable means it can change.
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For example, if you ship products to customers, your shipping costs are variable.
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If you sell more, the cost goes up.
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If you sell less, the cost goes down.
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That's a really clear way to think about it.
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I can use those terms in a meeting to show I really understand how the business works.
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Our fixed costs are stable, but our variable costs have increased.
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That sounds very professional, Jack.
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You're a natural.
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Another phrase we used was within budget.
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Right.
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Within budget, meaning we stayed under the limit.
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If my limit is 100 and I spend 90, I am within budget.
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And the opposite is over budget.
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If you spend 110, you are over budget.
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Most managers really prefer the first one.
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I bet they do.
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What about break even?
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I hear that a lot too.
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Break even is a great phrase.
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It's the point where your revenue equals your expenses.
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You aren't making a profit yet, but you aren't losing money either.
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You're right in the middle.
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So if I spend $100 to make some jewelry and I sell it all for exactly $100, I broke even.
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Perfect example.
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It's often a big milestone for new businesses or new projects.
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We expect the new project to break even by the end of the year.
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That sounds like a very positive thing to say in a report.
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It shows progress.
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It definitely does.
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Now, before we move toward the end of our talk, I want to mention invoices and payments.
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These are the practical things English learners deal with every day.
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Oh, yes.
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An invoice is the document you send to ask for money, right?
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Yes.
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You issue an invoice to a client, and then, hopefully, the client settles the invoice or makes a payment.
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Settle the invoice.
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That sounds much more formal than pay the bill.
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It is.
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In a business email, you might write, please find the attached invoice for last month's services.
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We would appreciate it if you could settle this by Friday.
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That sounds very polite, but also very clear.
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I'm going to start using settle the invoice in my emails.
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It makes me feel like I know exactly what I'm doing.
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It's all about those small changes in vocabulary that build your confidence.
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And speaking of confidence, let's move to our question of the day.
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I love this part a chance for everyone listening to actually use what we've been talking about.
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Exactly.
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So here is the question for today.
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If you were given a small budget to improve your workspace or your office, what would you allocate those funds to?
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That's a fun one.
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Think about it.
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Would you buy a better chair, maybe some plants, or maybe a faster internet connection?
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The reason we want you to answer this is to practice using the word allocate
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and talking about costs or expenses in a positive way.
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It helps you connect the business words to your real life.
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For example, I might say, I would allocate $500 to buy a high-quality ergonomic chair because my back hurts after sitting all day.
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The cost is high, but the benefit for my health is worth it.
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That's a great answer, Jack.
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I would probably say I would allocate some funds to a professional development course.
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I think the expense is justified because it would help me learn new skills for my job.
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Both of those use the words we talked about today in a very natural way.
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We would love to hear your answers in the comments or on our social media.
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Yes, please share.
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It's the best way to learn.
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Now, Jack, before we go, should we do a quick recap of the highlights?
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Definitely.
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We covered a lot today.
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We talked about revenue being the total money coming in and expenses being the money going out.
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And we learned that profit is what's left after you subtract the expenses from the revenue.
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We also talked about staying within budget and going over budget.
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Don't forget allocating funds, which is like putting money into specific envelopes for different tasks, and tightening our belts when we need to save money.
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And finally, we looked at the bottom line, the most important result or the final point of a financial discussion.
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I feel much more prepared for my next budget meeting now, Anna.
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I might even use higher than anticipated if I have to explain my train tickets again.
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I'm sure your manager will be very impressed with your English, even if the ticket was expensive.
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Thanks, Anna.
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This was really helpful.
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And to everyone listening, thank you for spending this time with us.
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Remember, you don't have to be a math genius to talk about money in English.
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You just need a few right words and the confidence to use them.
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So true, Jack.
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practicing, keep listening, and don't be afraid to make mistakes.
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That's how we all learn.
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We'll be back soon with another episode to help you grow your business English skills.
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See you next time.
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Goodbye, everyone.
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Thanks for listening.
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Vocabulary and speaking notes for this lesson
This video has 281 sentences and 2622 words to shadow. The speech runs for 15:24. The speaker talks at a natural 170 words per minute, close to everyday conversation. 86% of the words are among the 3,000 most common in English; the rest is worth studying before you start.
Key vocabulary in this video
15 less common words from the video, with pronunciation and meaning:
- expense /ɪkˈspɛns/ (noun) — A spending or consuming, often a disbursement of funds.
- envelope /ˈɛnvə(ˌ)loʊp/ (noun) — A paper or cardboard wrapper used to enclose small, flat items, especially letters, for mailing.
- variable [ˈvæɹ.i.ə.bl̩] (adjective) — Able to vary or be varied.
- belt /ˈbɛlt/ (noun) — A band worn around the waist to hold clothing to one's body (usually pants), hold weapons (such as a gun or sword), or serve as a decorative piece of clothing.
- settle /ˈsɛtəl/ (verb) — To determine (something which was exposed to doubt or question); to resolve conclusively; to set or fix (a time, an order of succession, etc).
- exhaust /ɪɡˈzɔst/ (verb) — To draw or let out wholly; to drain completely.
- anticipate /ænˈtɪs.ɪ.peɪt/ (verb) — To act before (someone), especially to prevent an action.
- tighten /ˈtaɪ.tən/ (verb) — To make tighter.
- topic /ˈtɑpɪk/ (noun) — A subject; a theme; a category or general area of interest.
- refer /ɹɪˈfɜː/ (verb) — To direct the attention of (someone toward something).
- helpful /ˈhɛlp.fl̩/ (adjective) — Furnishing help; giving aid; useful.
- skill /skɪl/ (noun) — A capacity to do something well; a technique, an ability, usually acquired or learned, as opposed to abilities that are regarded as innate.
- phrase /ˈfɹeɪ̯z/ (noun) — A short written or spoken expression.
- listener /ˈlɪs(ə)nɚ/ (noun) — Someone who listens, especially to a speech or a broadcast.
- stressful /ˈstɹɛsfəl/ (adjective) — Irritating; causing stress.
Phrasal verbs you will hear
- talk about (verb) — Used to draw attention to the speaker's characterization of someone or something.
- look at (verb) — To observe or watch.
- come in /ˌkʌm ˈɪn/ (verb) — To enter.
- talked about (adjective) — Discussed by many people.
- ask for (verb) — To request; to order.
- go up (verb) — To move upwards.
- think about /ˈθɪŋk əˌbaʊt/ (verb) — To ponder.
- come up (verb) — To emerge or become known, especially unexpectedly.
Pronunciation to watch
The speaker uses 46 contractions and reduced forms, such as I'm, don't, you're. Say them the short way, as you hear them.
- The “th” sounds: smooth /smuːð/, mathematics /mæθ(.ə)ˈmæt.ɪks/
- The “sh” and “zh” sounds: observation /ˌɑbzɚˈveɪʃn̩/, distinction /dɪˈstɪŋkʃən/, allocation /ˌæl.əˈkeɪ.ʃən/, childish /ˈt͡ʃaɪldɪʃ/, cashier /kaˈʃɪə/
- Long words — get the stress right: anticipate /ænˈtɪs.ɪ.peɪt/, electricity /ɪˌlɛkˈtɹɪsɪti/, unexpected /ʌnɪkˈspɛktɪd/, mathematics /mæθ(.ə)ˈmæt.ɪks/, vocabulary /vəˈkæb.jə.lə.ɹi/
How to practise with this video
- Listen to the whole video once without speaking and note the words you do not know.
- Start at 0.75× speed, shadow it sentence by sentence, then go back to normal speed once it feels easy.
- Record yourself and compare with the original, paying attention to words like expense, envelope, variable.
Grammar in this video
The structures the speaker uses most, with the exact words from the video:
| Structure | In the video |
|---|---|
| Present perfect continuous have/has been + -ing — an action that started earlier and is still going on | I've been looking · we've been talking |
| Present perfect have/has + past participle — a past action that still matters now | have gone · I've been · have left |
| Passive voice be + past participle — the focus is on what happens, not who does it | being spent · being judged · were given |
| Relative clauses who / which + clause — extra information about a person or thing | money, which is · funds, which is |
What is the Shadowing Technique?
Shadowing is a science-backed language learning technique originally developed for professional interpreter training and popularized by polyglot Dr. Alexander Arguelles. The method is simple but powerful: you listen to native English audio and immediately repeat it out loud — like a shadow following the speaker with just a 1–2 second delay. Unlike passive listening or grammar drills, shadowing forces your brain and mouth muscles to simultaneously process and reproduce real speech patterns. Research shows it significantly improves pronunciation accuracy, intonation, rhythm, connected speech, listening comprehension, and speaking fluency — making it one of the most effective methods for IELTS Speaking preparation and real-world English communication.