B2 – Upper Intermediate
Life is tough and it is even tougher for people who are short of cash.
Payday loans are a form of cash advance to help people cover their expenses until their next paycheck comes in. For some, it is an easy way to have a temporary solution to their money problems.
Listen to the audio and read the transcript about payday loans.
Vocabulary Questions:
- What does the idiom “Give it to me straight.” mean? “What do you mean complicated? Give it to me straight. Where did you get a loan?” Use it in your own sentence and give a synonym or similar expression.
- What does “to run someone dry” mean? “Exactly, because they can run you dry.” Use it in your own sentence and give a synonym or similar expression.
- What does “quicksand” mean here? “And then people like you get locked into a vicious loan cycle that is almost impossible to escape. Like quicksand.” Use it in your own sentence and give a synonym or similar expression.
Discussion Questions:
- How do you react/feel when someone tries to borrow money from you?
- Are payday loans a help to people or not? Explain your thoughts about it.
- Are payday loans common in your country? What is your opinion about their high interest rates?
4 replies on “Payday Loans”
1. How does Randall come up with the money?
He got a payday loan at a place near to his house.
2. What does Randall need the money for?
For his vacation. He is going to travel to Hawaii with his friends. He also mentioned that wants to buy some souvenirs.
3. How does he plan to pay back this loan?
He thinks about selling his bike, or his comic collection. He also asked rachel if she could lend him money.
4. What does ” run someone dry” mean?
It means to take all the money out of someone.
5. Are payday loans common in your country? What is your opinion on their high interest rates?
Yes, there are a lot of places where you can get easy money with almost no restrictions, but the downside is that you end up paying much more than the intial amount. Their interest rates are very high.
Appreciate you sharing your thoughts about this topic. Good job writing your responses.
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1.- How does Randall come up with the money?
He has taken out a loan.
2.- What does Randall need the money for?
For go on holidays. He and some friends are going to Hawaii next week, also he want to buy loads of souvenirs to his home.
3.- How does he plan to pay back this loan?
He has thought three options. First one is to sell his mountain bike, second one is sell his comic book collections and last one is that his friend give him the money.
4.- What does ” run someone dry” mean?
To spend a big quantity of money that you can not afford.
5.- Are payday loans common in your country? What is your opinion on their high interest rates?
In this regards, I can not give a personal opinion because I have never taken put a loan. Years ago you usually could see advertisement about this in TV but nowdays it is not normal to see information on TV about loans. In Spain, the payday loans are famous because their interest rates are exorbitant. It has been published a lot of stories about people who took out a loan and in a few years they were ruined.
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