B2 – Upper Intermediate
Life is tough and it is even tougher for people who are living paycheck to paycheck. Payday loan is an easy way for them to have a temporary peace of mind when it comes to their financial struggles. Payday loans are a form of cash advance to help people cover their expenses until their next paycheck comes in.
Listen to the audio and read the transcript about payday loans.
Discussion Questions:
- How does Randall come up with the money?
- What does Randall need the money for?
- How does he plan to pay back this loan?
- What does ” run someone dry” mean?
- Are payday loans common in your country? What is your opinion on their high interest rates?
2 replies on “Payday Loans”
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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