Whether you can say “millions of dollars” depends on the context. In general, it is perfectly acceptable to refer to an amount of money in the millions of dollars in conversation or in writing. However, there are some cases where it may be better to be more specific about the exact dollar amount. In this article, we’ll explore when it is appropriate to use the phrase “millions of dollars” and when it is better to cite an exact figure.
When “Millions of Dollars” is Appropriate
Using the term “millions of dollars” can be useful when you want to convey a large, imprecise amount of money. Here are some examples of when it would be appropriate to say “millions of dollars”:
- In casual conversation – If you are talking with friends or family about money in general terms, saying “millions of dollars” can convey a meaning of “a lot of money” without needing to be too specific.
- Discussing approximates – When providing rough estimates of costs, revenues, budgets, etc. using a phrase like “it will cost millions of dollars” gives a ballpark figure without claiming precision.
- To express large ranges – You can say “it could be anywhere from one million to five million dollars” to communicate a wide range of possibilities.
- Talking about big numbers in business/economics – Referring to “millions in revenue”, “millions in profit” or “millions in losses” is commonplace.
- In advertising/promotions – A sweepstakes prize described as “a chance to win millions of dollars” or a business citing “millions of customers served” makes an impact.
- When you don’t know or can’t disclose the exact amount – Saying “millions of dollars were embezzled” conveys the scale while not specifying an exact quantity.
In these types of everyday situations, using the phrase “millions of dollars” allows you to get across the meaning that a very large amount of money is involved without having to be precisely accurate about the details. The imprecision gives useful wiggle room in many contexts.
When to Avoid “Millions of Dollars”
However, there are also scenarios where it is better to avoid using the vague term “millions of dollars” and to cite a more definitive dollar figure instead:
- Official documents – Legal contracts, government/financial filings, etc. require accurate numbers.
- Formal business proposals – Specific budgets and projections will be expected.
- Financial reporting – Earnings reports, profit/loss statements need exact figures.
- News articles – Journalism standards require facts over estimates.
- Cost or pricing quotes – Customers expect precision when money is on the line.
- Record-keeping – Accounting and bookkeeping require meticulous accuracy.
- Technical/scientific writing – Details and precision are valued over generalizations.
- When exact numbers are known – If you have definitive data available, use it.
- To avoid misleading people – Vague “millions” could obscure losses/overruns vs. a budget.
In these types of formal or factual situations, it is best practice to avoid estimating “millions of dollars” when you can cite a specific amount. Even if a broad range is given, like “between $2.1 million and $2.4 million” it is more definitive than “millions of dollars.”
Putting It Into Context
To summarize when you can comfortably say “millions of dollars” versus when it is better to have an exact figure:
| Situations Where “Millions” is Appropriate | Contexts Requiring Specific Dollar Amounts |
|---|---|
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The key criteria are formality, facts vs. estimation, consequences of precision, and audience expectations. In formal contexts with monetary stakes where specifics are expected “millions of dollars” is too imprecise. For general discussions where ballpark figures suffice, “millions” communicates the essential point effectively.
Striking a Reasonable Balance
When writing about money, aim for enough precision to meet audience needs and expectations without always having to pin down every figure definitively. Finding the right balance depends on the situation:
- Provide exact figures when formal requirements or financial stakes call for it.
- Use ranges or approximations when absolute precision is not critical.
- Let context determine whether “millions” is too vague or just right.
- Add qualifying language like “approximately” or “about” when using estimated numbers.
- Round to sensible increments like nearest hundred thousand or million to simplify approximations.
- Use more precision for smaller amounts, less precision for very large amounts.
With these principles in mind, you can flexibly use “millions of dollars” where it works best, while sticking to specifics when necessary. The ultimate goal is conveying meaningful information appropriate to the situation, not blind precision for its own sake.
Examples of Balancing Precise and Estimated Figures
- The company reported Q3 revenues of approximately $1.2 million, a 50% increase over last year’s $798,000 for the same quarter.
- Industry analysts estimate the market size is currently $2 billion to $3 billion annually, with projections it could reach into the $5 billion to $10 billion range in 5 years.
- The startup raised $4.2 million in their Series A funding round according to SEC filings, with overall founder and investor capital totaling tens of millions prior to this latest infusion.
Conclusion
In summary, the phrase “millions of dollars” has its place when referring broadly to large, imprecise monetary amounts, particularly in casual discussion or general business contexts. But when formality, accuracy and specifics are needed – legal, financial, technical or scientific situations – it is better to avoid vagueness and use a definitive dollar figure. With care and common sense, you can achieve the right balance between precision and approximation when writing about money. The key is understanding when “millions” is good enough and when concrete numbers are obligatory based on the circumstances and audience.