B2 – Upper Intermediate
Budgeting is the key to achieving financial stability.
The article below provides insights into how budgeting can help individuals manage their expenses, save money, and plan for future financial goals.
Read this article to know about some tips on creating and sticking to a budget, managing debt, and maximizing savings.
Vocabulary Questions:
- What does “to provide a clear picture of something” mean? “It provides a clear picture of where your money comes from, where it goes, and how you can optimize its use.” Use it in a sentence.
- What does “to live within one’s means” mean? “By setting spending limits within your budget, you ensure that you live within your means.” Use it in a sentence.
- What does “cushion” mean in this context? “By allocating a portion of your income to an emergency fund within your budget, you create a financial cushion to cover unforeseen costs without resorting to borrowing or depleting your savings.” Give two (2) synonyms or similar expressions and use ‘cushion’ in your own sentence.
Discussion Questions:
- What are some key benefits of practicing budgeting for individuals seeking financial stability?
- What roles does budgeting have in managing debts?
- Discuss any potential challenges or obstacles that individuals might encounter when trying to adhere to a budget.
- What advice can be given to individuals struggling with debts?
- Cite some practical tips or strategies for creating and maintaining an effective budget.