Tag: finance

B2 – Upper Intermediate

Have you ever been duped by a layaway service that charged you for your purchases using “buy now, pay later” shopping platforms? The current global boom has become a trend, particularly with regards to online purchases that appear so promising and may seem to be the ideal way to allay our guilt from spending too much.

Watch the video below to learn more about the “buy now, pay later” trap.

Vocabulary Questions:

1. Define “down the road”. “I can just sign up for these payments and then worry about paying it sometime down the road.” Use this term in a sentence. Give a synonym.
2. What does “in a vacuum” mean? ” “But this explosion wasn’t just happening in a vacuum.” Use this phrase in a sentence and give a synonym.
3. Expound on the term “last hurdle”? “You see, brands have mastered psychological manipulation through their website, but specifically on the last hurdle, which is the checkout page.” Use this idiom to make your own sentence and give a synonym.

Discussion Questions:

1. Have you availed yourself of this “Buy now, pay later” program, and how does it make you feel after purchasing something online and not having to pay immediately?
2. Do you think that we failed to recognize the financial trap of “buy now, pay later”?
3. Will you explain the differences between a “buy now, pay later” plan and a credit card?
4. How can we, in your opinion, stay out of any financial pitfalls that result in mounting debt?
5. What are the most important financial education lessons you can impart to us, and how did you come to know them?

B2 – Upper Intermediate

South Korea is witnessing an unprecedented trend as consumers sharply reduce spending both on dining out and at home. Driven by rising living costs, economic uncertainty, and changing lifestyle habits, this shift marks a significant change in the country’s consumption patterns and raises concerns about broader impacts on the food and restaurant industries.

Watch this video and more about how Koreans are cutting corners.

Vocabulary Questions:

1. What does “frugal” mean? “Amid rising living costs, many Koreans have adopted a more frugal lifestyle, cutting back on both dining out and home food expenses.” Use the word in your sentence. Give a synonym.
2. What does the word “sluggish” mean? “The sluggish economy has further pushed many Koreans to embrace a frugal lifestyle, reducing spending on both dining out and meals at home.” Make a sentence using the word.” Give a synonym.
3. What does “at play” mean? “There’s a wider issue at play too with the sluggish economy creating job uncertainty and financial challenges causing people to spend less.” Use the idiom in a sentence. Give a synonym.

Discussion Questions:

1. What are the main factors causing Koreans to cut back on both dining out and home meals?
2. How might this shift affect small restaurants, grocery stores, and food producers?
3. Could this trend lead to long-term changes in Korean eating habits and culture? Explain.
4. Do you think cutting back on food spending is a wise way to handle financial pressure? Share your opinion.
5. Would you personally reduce eating out and cooking at home if prices kept rising? Explain.

B2 – Upper Intermediate

President Donald Trump recently proposed ending the production of the penny, reigniting a long-running debate. Supporters argue that eliminating the one-cent coin could save the government money and reduce inefficiencies, while opponents believe it could lead to rounding issues and impact charitable donations. Is it time to say goodbye to the penny, or does it still have a place in our pockets?

Watch the video and be able to answer the questions below.

Vocabulary Questions:

1. What is “seigniorage“? “The coin has had a negative seigniorage for almost 20 years and part of the reason for the increased production cost is the metal, in this case, zinc, has gotten more expensive.” Use the word in a sentence.
2. What does the phrase “round off ” mean? “Canada rounds off all cash transactions to the nearest 5 cents interval.” Make a sentence using the phrase.
3. What does the word “mint” mean here, “Last year, the mint lost more than $85 million to make more than 3 billion pennies.“? Use the word in a sentence.

Discussion Questions:

1. Do you think eliminating the penny would have a significant impact on everyday transactions? Why or why not?
2. Should sentimental or historical value be a factor in deciding whether to keep the penny? Explain.
3. Would rounding prices to the nearest nickel be fair to consumers and businesses? Explain.
4. How do the costs of producing pennies compare to their actual usefulness in today’s economy?
5. What potential effects could removing the penny have on low-income individuals and cash-based transactions?
6. How have other countries handled getting rid of low-denomination coins, and what lessons can the U.S. learn from them?

B2 – Upper Intermediate

Everyone was curious about the origins of money and how it flows through our economy. Did you know that a government facility in Washington, DC, converts paper into cash every hour of the day in order to meet demand? But there’s a catch: most of the money exists digitally.

See the video below to learn more about how banks magically create money.

Vocabulary Questions:

1. Explain “type into existence“. “Before it ever reached your bank account, it changed hands countless times, passing through people, governments and businesses all after being simply type into existence.”  Create a sentence using this term.
2. What does “hard to come by” mean? “To make transactions easier, people started to pay using more commonly used items like cattle, grain and salt. Everyone needed these things, but they were hard to come by and that’s what made them valuable.” Use this idiom to make your own sentence.
3. What is the meaning of “intrinsic value“? “The paper itself has no intrinsic value but it became as good as gold.” Give two (2) synonyms or similar expressions and use ‘intrinsic value’ in your own sentence.

Discussion Questions:

1. How does money work and evolve?
2. When did the entire idea of money started to change?
3. What’s the bank role in money processing?
4. What does “new money” mean?
5. How do banks actually generate revenue?
6. What are “bonds,” and what role do they play in the banking system?

B2 – Upper Intermediate

Wildfire victims are facing a growing insurance crisis as rising disaster risks make coverage harder to obtain and more expensive. In wildfire-prone areas, many homeowners are seeing their policies canceled, premiums skyrocket, or insurers pull out altogether. As climate change fuels more frequent and severe fires, the insurance industry is struggling to keep up, leaving victims with fewer options for rebuilding their lives. This crisis raises urgent questions about the future of home insurance, government intervention, and how communities can better prepare for wildfire risks.

Watch the video to learn more and be able to answer the questions below.

Vocabulary Questions:

1. What is the meaning of the phase “pull back“? “With insurers pulling back, thousand of California homeowners have been left without coverage.” Make a sentence using the expression.
2. What does “moratorium” mean? “The California Insurance Commissioner is issuing a one-year moratorium to protect homeowners.” Use the word in a sentence.
3. What does the word “cascade” mean? “The report suggesting the insurance crisis could lead to a housing one with echo of 2008, saying this is predicted to cascade into plunging property values in communities where insurance becomes impossible to find or prohibitively expensive.” Use the word in a sentence.

Discussion Questions:

1. Should the government step in to provide insurance assistance for wildfire victims, or should it be left to private insurers? Why?
2. Do you think insurance companies are justified in raising premiums or dropping coverage in wildfire-prone areas?
3. Is it fair to require homeowners in high-risk wildfire zones to pay significantly higher insurance rates?
4. How can insurance companies balance financial risk while still providing coverage for wildfire victims?
5. How should communities and governments prepare for the increasing risks of wildfires and their impact on home insurance?

B2 – Upper Intermediate

In the world of handling money, there’s this thing called “spaving.” It’s a mix of “spending” and “saving.” It’s when people think they’re saving money by spending more upfront on things that seem better quality. Even though it might seem smart, it can actually cause money problems in the long run.

Watch this video about to know more about it and get some tips on making better choices with your money and reach your savings goals more easily.

Vocabulary Questions:

1. What does the phrase “to rip off” mean? “Some big shot over at the weiner company and some big shot at the bun company got together and decided to rip off the American public.” Use this phrase in a sentence.
2. What does the word “entice” mean? “Buy one, get one” has enticed you to spend more.” Make a sentence using the word.
3. What does the word “outsmart” mean? “The algorithms are coming after you, so you have to outsmart them.” Use the word in a sentence.

Discussion Questions:

1. Do you think ‘spaving’ is a common financial strategy among people today? Why or why not?
2. What are some potential advantages and disadvantages of the ‘spaving’ mindset?
3. Share any personal experiences where you’ve encountered ‘spaving’ in your own life or observed it in others.
4. What are some examples of products or services where ‘spaving’ might be particularly tempting, and how can individuals differentiate between genuine savings and falling into the ‘spaving’ trap?
5. What alternative strategies can individuals employ to achieve their savings goals without resorting to ‘spaving’?