B2 — Upper Intermediate
Personal finance is about how people manage their income, spending, savings, and investments to achieve their financial goals. Good financial habits, such as budgeting, avoiding unnecessary debt, and saving regularly, can help people build financial security and work toward financial freedom.
Financial freedom means having enough financial stability and control to make life choices without being constantly worried about money. However, it is not necessarily about becoming wealthy; for many people, it means having the freedom to live comfortably, handle unexpected expenses, and pursue the things that matter most to them.
Watch the video about personal finance and financial freedom.
Vocabulary Questions:
- What does “house hacking” mean? “When I first heard about house hacking, my immediate reaction was, “It’s not for me. I have a family. I live in the city where this seems impossible.”.” Use the term in a sentence. Give a synonym.
- What does “financial suicide” mean? “When I started my YouTube channel, I didn’t just quit my job to go all in. That’s financial suicide.” Use the term in a sentence. Give a synonym.
- What does “angel investor“ mean? “Instead, I decided to look at my day job differently. My day job became the angel investor that paid for my life while I built my dream.” Use the term in a sentence. Give a synonym.
Discussion Questions:
- What are your thoughts about Rule # 1, “You don’t deserve the best, you deserve freedom. Good enough and the best usually give you the same experience, but the price difference is huge.”?
- Share your thoughts on Rule # 2, “A dollar saved is worth more than a dollar earned.”
- Rule # 3 states, “Change the big things, not the small ones.” Share your insights on this.
- What are your thoughts on “killing the bad debts first”?
- What do you think about house hacking? Would you consider doing it? Why?