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If you are told something is worth 5k, or someone earned a 5k bonus last year…what does that actually mean in money terms? Here, we’ll be covering exactly how much 5k is worth financially.
How Much Is 5k?
5k means 5,000. So, if something is worth 5k, it is worth $5,000 – or whatever currency you typically use.
K = Kilo = 1,000
So 5k = 5 x Kilo = 5,000
Check out our post on what 3k breaks down to financially for more guides like this.
Is $5,000 a realistic savings goal?
Absolutely! Read more on how to save this much and some creative ways to make extra money this month.
Why do people use ‘k’ for money?
The letter K, in this instance, stands for kilo. A kilo is “a decimal unit prefix in the metric system denoting multiplication by one thousand”. So, when something is worth $5,000, for example, that is often shortened to $5k.
If someone refers to 20k, they mean $20,000. And so on and so forth.
If we’re talking about a 6-figure income, such as $200,000, you would say 200k.
What does ‘grand’ mean?
As well as using the term ‘k’ to refer to money in denominations of thousands, you have probably also heard people use the term ‘grand’.
5k is $5,000 is five grand. It’s all the same.
The word grand is used to mean thousand because 1,000 dollars was considered to be a “grand amount of money”. This is thought to have been American slang first used in the early 1900s – and the language has stuck all the way into 2023!
You may also hear some people shorten Grand to G’s. For example, 5G’s. This still means 5,000.
Similar posts you might want to check out:
- How Much Money is 1 Billion Pennies?
- How Much Is 1 Million Pennies Worth?
- How Much Is 3k?
- $50000 A Year Is How Much An Hour? Is It A Good Salary?
Frequently Asked Questions
What else could 5k mean?
If we’re not talking about money, 5k could also mean:
5 kilograms = 5k = 5000 grams
5 kilometers = 5km = 5000 meters
What is 5k in money?
5k means 5,000 in money terms. Depending on where you live will tell you what currency that 5,000 is being referred to in.