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ready money

C1
UK/ˌred.i ˈmʌn.i/US/ˌrɛd.i ˈmʌn.i/

Formal, Financial, Historical

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Definition

Meaning

Cash or other forms of payment that are immediately available for use, without requiring credit, debt, or waiting for clearance.

Financial assets that are liquid and can be spent, transferred, or converted into goods/services without delay. Historically, it referred specifically to coinage as opposed to promissory notes.

Linguistics

Semantic Notes

The phrase functions as a noun phrase. 'Ready' here means 'immediately available'. It often implies a preference for or the security of tangible, instant payment over credit or promises.

Dialectal Variation

British vs American Usage

Differences

Used in both, but 'cash' is overwhelmingly more common in modern American English. 'Ready money' may sound slightly more dated or formal in the US.

Connotations

UK: Slightly old-fashioned or literary, but still understood in financial/legal contexts. US: Primarily historical or in formal financial/legal writing; rarely used in everyday speech.

Frequency

Low frequency in both, higher in UK, but still significantly less common than 'cash' or 'liquid assets'.

Vocabulary

Collocations

strong
have ready moneypay in ready moneyshort of ready moneysupply of ready money
medium
need ready moneylack of ready moneyrequire ready moneyprovide ready money
weak
keep ready moneyobtain ready moneyaccess to ready moneysufficient ready money

Grammar

Valency Patterns

[Subject] + have/need/lack + ready money[Subject] + pay + (with/in) + ready money[Subject] + be + short of + ready money

Vocabulary

Synonyms

Strong

cash on handhard cashspot cash

Neutral

cashliquid assetsimmediate funds

Weak

available fundsliquid capitalready cash

Vocabulary

Antonyms

creditdebtilliquid assetsfuture paymentpromissory note

Phrases

Idioms & Phrases

  • “(as) good as ready money”

Usage

Context Usage

Business

Used in historical financial contexts or to emphasise immediate liquidity in contracts: 'The buyer insisted on payment in ready money.'

Academic

Found in economic history texts discussing pre-modern economies and the shift from specie to credit.

Everyday

Very rare. An older person might say, 'In my day, you always carried ready money.'

Technical

Used in legal/financial documents to specify non-credit payment, distinguishing from electronic transfers or cheques.

Examples

By Part of Speech

verb

British English

  • N/A – not used as a verb.

American English

  • N/A – not used as a verb.

adverb

British English

  • N/A – not used as an adverb.

American English

  • N/A – not used as an adverb.

adjective

British English

  • A ready-money transaction saved us the bank fees.
  • He made a ready-money offer on the antique clock.

American English

  • N/A – The adjectival use is archaic. Modern use would be 'cash transaction' or 'cash offer'.

Examples

By CEFR Level

A2
  • He paid for his shopping with ready money.
  • I don't have any ready money with me.
B1
  • The market trader prefers ready money to cards.
  • It's useful to keep some ready money for emergencies.
B2
  • The estate was sold for a substantial sum in ready money.
  • During the crisis, many businesses found themselves short of ready money.
C1
  • The historical treatise argued that a plentiful supply of ready money was essential for trade.
  • The contract stipulated payment in ready money upon delivery of the goods.

Learning

Memory Aids

Mnemonic

Think of a shopkeeper saying, 'Are you READY with your MONEY?' meaning prepared to pay right now.

Conceptual Metaphor

MONEY IS A TOOL (that is prepared/ready for immediate use).

Watch out

Common Pitfalls

Translation Traps (for Russian speakers)

  • Do not translate literally as 'готовые деньги'. The correct equivalent is 'наличные (деньги)' (nalichnye) or 'живые деньги' (zhivye den'gi) in informal contexts.
  • Confusion with 'ready' as in 'готов' (gotov) can lead to the incorrect phrase 'деньги готовы'.

Common Mistakes

  • Using it as an adjective (e.g., 'ready-money payment' – better: 'cash payment').
  • Confusing it with 'ready cash', which is more modern but similar.
  • Using it in casual contexts where 'cash' is expected.

Practice

Quiz

Fill in the gap
In the 18th century, merchants often demanded payment in to avoid the risk of default.
Multiple Choice

Which of the following is the closest modern synonym for 'ready money' in everyday conversation?

FAQ

Frequently Asked Questions

In modern terms, yes, its core meaning is essentially 'cash'. However, 'ready money' can be slightly broader, encompassing any immediately available funds (e.g., a cleared balance in a current account), and it carries a more formal or historical tone.

It's possible but may sound old-fashioned. Terms like 'cash payment', 'immediate funds', or simply 'cash' are more common and clearer in modern business communication.

The conceptual opposite is 'credit' (buying now, paying later) or 'illiquid assets' (assets that cannot be quickly converted to cash, like property or certain investments).

The word 'ready' here comes from its older meaning of 'prepared' or 'available for immediate use'. So, 'ready money' is money prepared and available to spend immediately, unlike money tied up in investments or promised in the future.