What can you pay for with a loonieFor sure, a lot of things!

Loonie is the colloquial name for a one dollar coin. This word is native to Canada and is used every day in commerce, both to pay and to receive change. Many Latino newcomers must learn this and other words about Canadian money and currencies in order to successfully adapt to the environment.

To talk about money in English, whether in Canada or in the United States, it is necessary to use a diverse and specific vocabulary, since in this conversation the words go beyond dollar, cash y money; there are also other terms such as loonie, dime, toonie, as well as colloquial English-speaking everyday words that are used when paying in any store, so it is necessary to know and master them in order to keep clear accounts.

Today we will learn a glossary of English terms and symbols for paying with Canadian coins. Let's get started!

Money vocabulary in Canada

As in the United States, Canada's main currency is the dollar, but its abbreviation is CAD, capitalized. Let's see what words are used when talking about money:

• Canadian dollar: this is the official monetary unit of Canada. ISO code: CAD. Symbol: C$.

• Cent (¢): this is a sub-unit of the dollar, where 100 cents equals 1 dollar.
• Tell me: this is a coin worth 10 cents. It is smaller in size than the penny (1 cent) and the nickel (5 cents).
• Penny (1 cent): this coin is called a penny and is actually out of production.

• Loonie (1 CAD): is a $1 Canadian coin engraved with a loonie. loon (a bird native to Canada) on one side.
• Toonie (2 CAD): a $2 Canadian coin named as a funny combination of two y loonie.

Things you can buy with Canadian money

• Although the penny is no longer in circulation, pennies and dimes are still used to pay for things like candy, gum or small tips in some places.
• With a loonie (1 CAD), you can buy a coffee in some coffee shops, a bottle of water or a newspaper.
• With a toonie (2 CAD), you can pay for a ride on public transportation in some cities, a chocolate bar or a snack at a convenience store.
• With Canadian dollars (C$), you can make larger purchases, such as paying in supermarkets, restaurants or clothing stores.

Glossary of colloquial English money terms

In everyday colloquial English-speaking North America, it is possible to find an informal language (slang) to refer to money, and, although it is more common in the United Statessome are also used in Canada. Here are the words and their uses:

• Dough: similar to "money"means money in general. Example: I need more dough to buy a new phone. (I need more money to buy a new phone).

• Bucks: colloquial form to refer to bucks. Example: This jacket costs fifty bucks. (This jacket costs fifty bucks).

• Cheddar: money, especially cash. Example: He made a lot of cheddar last year. (He made a lot of money last year).

• Bread: another way of saying money, as in. "earn some bread". Example: I work hard to earn some bread. (I work hard to earn some bread).

• Moolah: money in general, used informally. Example: I'm saving moolah for my trip to Europe. (I'm saving money for my trip to Europe).

• Cash: cash. Example: Do you have cash or card? (Do you have cash or card?)

Slang for payments and exchange

• Change: change or change back. Example: Do you have change for a five-dollar bill? (Do you have change for a five-dollar bill?).

Note: The expression "Do you have some change" has two definitions.

1. One is when it refers to the exchange of a banknote (for another of a different value). 
2. The second, commonly in the beggars (beggars) when they ask for money.

According to dictionaries Merriam-Webster y Longman the phrase "do you have any change?" generally means to ask if someone has small change that he or she can give. Although it could be used to ask for exact change on a purchase, it is more likely that the person is asking for coins as a donation or for a small purchase, such as a cup of coffee.

• Chump change: small amount of money. Example: That job only pays chump change. (That job only pays a very small amount of money).

• Kickback: extra payment or commission, sometimes illegal. Example: He got a kickback from the deal. (He got a kickback from the deal).

• Split the bill: split the bill. Example: Let's split the bill for dinner. (Let's split the bill for dinner).

• Pay up: pay what is owed. Example: You borrowed money, now it's time to pay up. (You borrowed money, now it's time to pay up).

• Shell out: spending money, usually in large amounts. Example: I had to shell out a lot of money for my new car. (I had to spend a lot of money on my new car).

Why is this vocabulary important?

Using currency-related terms correctly is essential for clear communication in English-speaking countries. Whether you are shopping, discussing finances or making everyday transactions, these terms will help you:

• Understanding pricing and differentiating a dime (10 cents) from a dollar (1 dollar) and avoid confusion in conversations and payments.

• Participate in negotiations with precise language that facilitates financial discussions, especially in professional or commercial environments.

• Avoid mistakes when misunderstanding terms such as cent o dimewhich could lead to incorrect payments or financial problems.

Strategies to pay money in English

When making payments in local currencies, it is necessary to practice the oral and written production of the terms.

1. Practice a conversion between cents and dollars using decimals.

1. Familiarize yourself with the Canadian currencies (loonie and toonie) through images and examples of use.

1. As for dime vs. nickel, some students' confusion is due to their names: dime (10 centavos), nickel (5 centavos). To avoid confusion, look at real coins or pictures to associate the name with the size and value.

1. Simulate shopping scenarios with a friend or family member using coins and bills (or printed images). 

1. Create your own price list with household items in different currencies (e.g., $2.50 for a loaf of bread, 50¢ for a bar of chocolate).

Learn English with Planeta Immiland

At Planet Immiland, we understand the importance of mastering practical vocabulary for everyday life, work or academic needs in English-speaking countries. Our courses are designed to help you expand your vocabulary with currency terms and other essential topics for living in Canada.

If you would like to learn other English strategies for Canadian life, contact us at and we will be happy to help you. Here you can find our English programs.

I hope you find this topic useful and use it soon in your Canadian life. Thank you for reading. 

With love,

Planeta Immiland Education