B1 — Intermediate
About 14% of U.S. households earn more than $200,000 a year. However, many of them do not feel rich. They are often called HENRYs, which means High Earners, Not Rich Yet.
Listen to this audio and read the transcript about people who earn high salaries, but do not necessarily feel rich.
https://www.newsinlevels.com/products/some-people-earn-a-lot-but-arent-rich-level-3
Vocabulary Questions:
- What does “lifestyle creep” mean? ”Even people making over 300,000 often struggle with credit card debt. This is partly due to lifestyle creep.” Use the term in a sentence. Give a synonym.
- What does “net worth” mean? ”Experts say budgeting, knowing your net worth, and planning for savings are key steps to feeling financially secure.” Use the expression in a sentence. Give a synonym.
- What does “hamster wheel” mean here: ”Emotional spending, social pressure, and a lack of financial planning can keep high earners stuck on a hamster wheel.”? Use the idiom in a sentence. Give a synonym.
Discussion Questions:
- Do you think financial success depends more on income or on money management? Explain.
- Do you think earning more money always leads to a better life? Why or why not?
- What advice would you give someone who earns a high income but still struggles with money?
- Do you think social media encourages people to spend more? Why or why not?
- How can people enjoy life without overspending?