Money and Budgeting
- englishiseasierwithamal.com
- Apr 15, 2021
- 4 min read
Updated: 11 hours ago
Money and Budgeting
Read and practise the following conversation:
Sara: Hi Daniel. You look worried. What’s wrong?
Daniel: I checked my bank balance this morning. It’s very low.
Sara: Oh no. Did you look at your statement?
Daniel: Yes, I did. There were many transactions this month.
Sara: Maybe you need to make a better budget.
Daniel: I think so. I don’t want to get into debt.
Sara: That’s smart. Do you still owe money on your loan?
Daniel: Yes, I do. I’m trying to pay off my car loan.
Sara: What about your mortgage?
Daniel: I pay my mortgage every month, but the interest rate went up. Now it’s harder to afford everything.
Sara: That’s stressful. Do you pay with cash or card?
Daniel: Mostly by card. I also use online banking to pay my bills.
Sara: That’s convenient. Do you check your bank receipt after each payment?
Daniel: Yes, I always save the receipt. Last month, the bank charged me a service fee by mistake.
Sara: Really? What did you do?
Daniel: I called the bank, and they fixed it.
Sara: That’s good. I hope you can pay off your loan soon.
Daniel: Thanks. I just need to follow my budget carefully.
I. Match the definition in column "A" with the word in column "B":
1. A four-digit secret number. A. Transaction
2. Something that you buy. B. Balance
3. To put money into your account. C. A cheque
4. A spending plan based on income and expenses. D. Transfer
5. An electronic teller E. withdraw
6. To take money out of an account. F. ATM
7. To move money from an account to another. G. A budget
8. A printed form used instead of money
to make payments from your bank account. H. Deposit
9. The amount of money you have in a bank account. I. Purchase
10. Any money that moves in or out of your bank account. J. PIN
11. Money you borrow from a bank and must pay back. K. Bank receipt
12. Extra money you pay the bank for borrowing money. L. Service fee
13. Money you still have to pay. M. Debt
14. A small amount of money the bank charges for a service. N. Interest
15. A paper or digital proof that you paid for something. O. Loan
II. Answer the following questions:
1. Why was Daniel worried at the beginning of the conversation?
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2. What made Daniel realize he had a money problem?
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3. What does Sara suggest Daniel should improve?
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4. Why doesn’t Daniel want to get into debt?
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5.What kind of loan is Daniel trying to pay off?
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6. How did the interest rate change affect Daniel?
__________________________________________________________________________
7. Why is it harder for Daniel to afford everything now?
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8. How does Daniel usually pay for things?
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9. How does Daniel usually pay for things?
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10. Why is it important that Daniel saves his bank receipts?
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11. What problem did Daniel have with the bank last month?
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12. How did Daniel solve the problem with the service fee?
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13. What can Daniel do to improve his financial situation?
__________________________________________________________________________
14. Do you think Daniel is responsible with his money? Why or why not?
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15. What advice would you give Daniel to help him manage his money better?
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III. Complete the following sentences with words from the list:
balance - statement - get into debt - pay off - loan - budget - transactions - mortgage - afford - interest rate - cash - bank receipt - owe - service fee - online banking
1. You'll find your account ---------- in the bank statement.
2. I only have one credit card because I don't want to -----------.
3. If you stick to your budget, you'll ---------- the loan in a short time.
4. He ---------- a lot of money to the bank.
5. Students can get a --------- from the bank with a low interest rate.
6. How often do you receive your bank ---------?
7. A: Are you familiar with ----------?
B: Yes. It's convenient and time-saving.
8. Some credit cards offer ---------- back.
9. A: I want to buy a new TV. B: What's your ----------?
10. I've just got my new job, and I can't ----------- a bigger house.
11. It's recommended to shop around to find the lowest ----------- on different credit cards.
12. Is there a ------------- on the savings account?
13. Customers are provided with a ---------- at the ATM.
14. I chose to have a fixed interest rate on my -------------.
15. The bank statement shows all the ----------- in a billing cycle.
IV. Rearrange the following questions:
1. many - How - credit - do - you - have - cards?
2. pay - Can - using - bills - banking - I - online?
3. the - What - exchange - is - rate?
4. you - afford - Can - new - a - car?
5. credit - Is - fee - there - an - on - this - card - annual?
6. minimum - What - the - payment - is?
7. the - due - is - date - When?
8. a - I - credit - third - Can - apply - for - card?
9. there - Is - a - ATM - drive - here - thru?
10. account - is - balance - my - What - the - on?
11. loan - for - apply - I - Can - a - personal?
12. interest - is - What - rate - the - current?
13. charge - Do - service - you - a - fee?
14. long - take - will - How - approval - the?
15. cash - withdraw - Can - I - here?
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