Tag: finance

Chinese Women Teaming Up with Strangers to Save Money

B2 – Upper  Intermediate 

Amidst the low confidence in what the future holds for the economy, Chinese women are seeking for partners or “da zi” they can join forces with in order to save money.

Saving money has never been harder. Many women are concerned so they must find ways on how to cut down on their expenses wherever they can or finding something to do to earn extra bucks, thereby, increasing their savings.

Read the article about how Chinese women are teaming up with saving partners in order to be able to put some money aside.

https://www.bbc.com/news/world-asia-china-68692375

Vocabulary Questions:

  1. What does “impulse purchase” mean? “They also help to stop each other from making impulse purchases.” Use this phrase in a sentence.
  2. What does “blunt” mean in this context, “However, if people continue to avoid spending and save their money instead it could blunt the bank’s ability to influence the economy.”? Use this word in a sentence.
  3. What does “banknote” mean? ”I feel safe and satisfied seeing stacks of banknotes getting thicker and thicker.” Use this word in a sentence.

Discussion Questions:

  1. What is your opinion on having saving partners?
  2. What might be the pros and cons of having “da zis”?
  3. How has having saving partners help Chinese women save money?
  4. What are your thoughts on more traditional saving methods such as keeping cash at home?
  5. Are people in your country saving more or less in the recent years? Why do you think this is the trend?
  6. What are some things you have done in order to save money? How about to make extra cash?

Retirement Feels Impossible Today

B2 – Upper Intermediate

How would your life be like if you can go without alarm clocks, when you are not under time constraints, and when you can enjoy the company of your loved ones, and live a carefree and leisurely life?

It sounds a lot like retirement, doesn’t it? But everything around us took a sharp turn for the worse, and now enjoying our later years seems like a pipe dream.

Watch the video, to find out more about why retirement seems unattainable these days and get some tips on how to prepare for it.

Vocabulary Questions:

  1. What is the meaning of “evolving landscape“? “The process of saving money has become more complex. Despite these obstacles, there are still ways to successfully navigate this evolving landscape.” Use it in your own sentence.
  2. What does “safety net” mean? “When you stop working, it’s kind of like a safety net for your older years.” Use this expression in your own sentence.
  3. What does “tucked away” mean?” “Graduating with a substantial student loan debt means that a significant portion of your earnings is dedicated to debt repayment rather than being tucked away for the future.” Construct a sentence with this term.

Discussion Questions:

  1. What are the 9 reasons mentioned in the video of why retirement is impossible today? Drawing from your experience or observation, do you concur with these reasons?
  2. How has retirement changed in your nation? and what are the factors that affect it?
  3. Do you think it’s necessary to make retirement plans? Why?
  4. Considering the various challenges people have when trying to save for retirement, are there any strategies you can think of to guarantee a better retirement?
  5. Do you find retiring to be bothersome at this time, given how drastically society is changing over time? How do you respond to it?

Navigating Financial Challenges in the Digital Age

B2 – Upper Intermediate

In the digital age, millennials might be in need of specific budgeting strategies tailor-fitted to their financial needs and challenges, handling student loan debt, managing irregular income streams, balancing discretionary spending with saving for long-term goals like homeownership or retirement, and utilizing technology for budgeting purposes, to name a few.

Read this article about the financial challenges and how to they can be effectively managed in the digital era.

https://moneycoach.ai/blog/money-management-for-millennials-navigating-financial-challenges-in-the-digital-age

Vocabulary Questions:

  1. What does “at one’s disposal” mean? “From digital payment platforms to investment apps, millennials have a wide range of tools at their disposal.“ Give two (2) synonyms or similar expressions and use ‘at one’s disposal’ in your own sentence.
  2. What does “round-up savings” mean? “Additionally, explore investment platforms that offer features like round-up savings or recurring investments.” Use it in a sentence.
  3. What does “to diversify one’s portfolio” mean? “Understand the risks involved and diversify your portfolio to minimize potential losses.” Use it in a sentence.

Discussion Questions:

  1. How does the article address the unique financial challenges that millennials face, and what are some specific strategies recommended for overcoming these challenges through budgeting?
  2. Are there any insights provided in the article regarding how millennials can navigate irregular income streams or variable expenses while maintaining a budget, and what practical steps are recommended to address these issues?
  3. Does the article discuss the balance between short-term discretionary spending and long-term financial goals for millennials, and if so, what advice does it offer for prioritizing and achieving these goals through budgeting?

The Importance of Budgeting

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.

https://financeokay.com/2023/09/14/the-importance-of-budgeting-a-guide-to-financial-stability/
https://financeokay.com/2023/09/14/the-importance-of-budgeting-a-guide-to-financial-stability/

Vocabulary Questions:

  1. 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.
  2. 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.
  3. 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:

  1. What are some key benefits of practicing budgeting for individuals seeking financial stability?
  2. What roles does budgeting have in managing debts?
  3. Discuss any potential challenges or obstacles that individuals might encounter when trying to adhere to a budget.
  4. What advice can be given to individuals struggling with debts?
  5. Cite some practical tips or strategies for creating and maintaining an effective budget.

What Is Fintech? 

B2 – Upper Intermediate

In the past few years, the blending of money matters with technology has created a new and exciting field called fintech.

Fintech is changing how we do banking and manage money by using new technologies to come up with fresh ideas and challenge old ways of doing things in banks and other financial institutions. It’s brought us things like banking apps on our phones, places to trade digital money, ways to lend money directly to others online, and automated investment advice. Fintech is making financial services easier to use and available to more people, both individuals and businesses, than ever before.

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

Vocabulary Questions:

  1. What does “disrupt” mean in this context, “Here at a major fintech conference in Amsterdam, hundreds of companies are trying to disrupt the banking and finance industries by changing the way we pay and borrow money.” Make a sentence using the word.
  2. What does the expression, “to go big on something” mean? “Some of the world’s biggest companies from Apple to Alibaba are going big on it, too.” Use the expression in a sentence.
  3. What does ” to default on a loan” mean? “Compared to traditional banks, these services might not be required to set aside as much money in case customers default on their loans.” Use the phrase in a sentence.

Discussion Questions:

  1. How has fintech changed the way we interact with and manage our finances on a day-to-day basis?
  2. What do you think are the most significant benefits of fintech for consumers and businesses?
  3. Do you believe that traditional financial institutions will be able to keep up with the pace of innovation brought by fintech companies? Share some insights.
  4. In your opinion, what are the potential risks or drawbacks associated with relying heavily on fintech for managing personal or business finances?
  5. Do you think fintech has the potential to bridge the gap in financial inclusion and provide services to underserved populations? Why or why not?

Financial Literacy Education

B2 – Upper Intermediate

Financial literacy is defined by Investopedia as the ability to understand and use various financial skills, including personal financial management, budgeting, and investing. This form of literacy is not highlighted in many societies around the globe, or maybe because of its diminished importance, many of us are not as concerned about it.

We frequently hear people lamenting the lack of financial education they receive, or more precisely, the lack of instruction or exposure to budgeting techniques, which they believe has contributed to the financial instability that the majority of Americans currently experience—or perhaps that of the global populace as a whole.

To find out more about why financial literacy instruction in the US is so bad, watch the video.

Vocabulary Questions:

  1. What is the meaning of “driving force“? “And that lack of literacy is one driving force behind the financial instability a lot of American face.”Give two (2) synonyms or similar expressions and use ‘driving force’ in your own sentence.
  2. Do you know what “to take a crack at something” means? “Your history teacher might have taken a crack at teaching you about credit card debt.” Construct your own sentence using this phrase.
  3. What is the meaning of “trickle up”?“Financial education has a trickle up effect on students’ families and even the classes’ teachers.” Use it in your own sentence.

Discussion Questions:

  1. What is financial literacy and how important is it in the society?
  2. Should financial literacy be taught at schools? Share your thoughts.
  3. Do you believe that having financial literacy would make people’s lives better? Elaborate on your response.
  4. What is a suitable age to start learning financial management? And why?

Mark Zuckerberg Richer

B2 – Upper Intermediate

In today’s society, the pursuit of wealth and material possessions has become a common goal for many individuals. The desire to be richer drives people to work harder, take risks, and make sacrifices in order to achieve financial success.

To become richer, one must first set clear goals and develop a strategic plan to achieve them. This may involve investing in education or acquiring new skills to increase earning potential. Additionally, saving and investing wisely can help grow wealth over time.

Read this article about Mark Zuckerberg’s increasing wealth.

https://www.msn.com/en-ph/money/companies/mark-zuckerberg-is-almost-54-billion-richer-this-year-and-he-s-closing-in-on-elon-musk/ar-BB1jH3zY?ocid=winp1taskbar&cvid=5f61fbcfc9494e4ff0e890f56d7ebcf3&ei=14#image=AA1iQDPs|9

Vocabulary Questions:

  1. What does “to close in on someone/something” mean? “Mark Zuckerberg has become a lot wealthier this year 2024 — and is closing in on his would-be cage-fight rival Elon Musk for the title of the world’s third-richest person.”  Use it in your own sentence. 
  2. What does the term “closing bell” mean here, “As of Friday’s closing bell, he was worth $182 billion — just $7 billion behind Musk. Zuckerberg hasn’t been richer than the Tesla CEO since November 2020.” Use it in your own sentence. 
  3. What does the idiom “to settle differences” mean? “At one point, the two billionaires even promised to settle their differences in a cage match, although it appears unlikely that is ever going to happen.” Use it in your own sentence. 

Discussion Questions:

  1. How did Mark Zuckerberg become richer this year?
  2. Share your thoughts on Mark Zuckerberg’s net worth surging.
  3. Talk about your opinion about Zuckerberg and Musk’s rivalry and their efforts to play it up.
  4. Who is the wealthiest person from your country and how do they acquire their fortune?
  5. What questions would you like to ask a wealthy person like Mark Zuckerberg?
  6. How can one acquire more wealth and manage it well?
  7. How do you think your company achieve growth year by year?

The No-Buy Challenge

B2 – Upper Intermediate

The popularity of a No-Buy Month stems from its simplicity. A commitment to avoid non-essential spending for an entire month.

As we explore into the experiences of those who took on this challenge, we gain valuable insights into how it affected their private finances and overall well-being.

From economical lessons to unforeseen results, these individuals disclose their tips for mastering the art of financial restraint and achieving improved monetary accountability.

Visit the link for additional information.

https://www.huffpost.com/entry/no-buy-january-challenge-budget_l_65b3f42ee4b0d407294f08b3

Vocabulary Questions:

  1. What does “all or nothing” mean in the sentence, “Cuevas said an “all or nothing” mindset was not sustainable, so she purposely created exceptions for her no-spend challenge.”? Use this in your own sentence.
  2. What does “dopamine rush” mean in the sentence, “To replace the dopamine rush she used to get from shopping, Nevitt said it has helped to go back to the comforting escapism of reading books.”? Use this in your own sentence.
  3. What does “reset and rewire” mean in the sentence, “So I wanted to give my brain a full year to really reset and rewire all of my habits.”? Use this in your own sentence.

Discussion Questions:

  1. Have you ever considered trying a no-buy or no-spend challenge, like the individuals in the article? Why or why not?
  2. How do you usually manage your spending habits? Please share.
  3. Do you find yourself making impulsive purchases, especially during specific times like holidays? Tell me more.
  4. Do you relate to the concept of FOMO spending (fear of missing out), and have you ever made purchases driven by this feeling?
  5. Considering the lessons learned by the individuals in the article, do you think a no-spend challenge could be a beneficial strategy for you to reset spending habits and save money? Why or why not?

How Green Is Your Money

B2 – Upper Intermediate 

We keep our money in the bank. The bank uses our money to invest in or fund other businesses.

Now, the question is, do you have any idea as to what your money is being used for or are you just very green about it?

Listen to this audio and read the transcript about how banks invest our money to fund other business, at times, even dirty practices and find out how our money can help save the environment.

Be ready to answer the questions that follow.

https://www.bbc.co.uk/learningenglish/english/features/6-minute-english_2023/ep-231019

Vocabulary Questions:

  1. What does “green” mean in this context, Neil: “So, do you know if your money is funding dirty practices like oil drilling?” || Beth: “No, I don’t. I have to admit I’m very green about money, and I don’t mean green as in environmentally friendly.”? Give 2 synonyms and use “green” in this context in your own sentence.
  2. What does “to jump on the bandwagon” mean, “It was always viewed, I think, as a niche thing, something for those that had very clear views on the world, social views. That’s now broadened hugely, and there’s great concern about greenwashing so who’s jumping on the bandwagon? – that’s a huge concern amongst investors.”? Use this expression in your own sentence.
  3. What does ”to put the spotlight on someone/something” mean, ”This in turn puts the spotlight on how pension funds are being used, for example whether they support large oil corporations or renewable energy companies.”? Use this idiom in a sentence.

Discussion Questions:

  1. What might be reasons public interest in ethical banks has ballooned in recent years?
  2. Are you aware about where your bank invest your money in? Talk about it.
  3. How common are ethical banks in your country? Why do you think this is the case?
  4. What are your thoughts on Richard Curtis’ campaign “Make My Money Matter” which is essentially doing one simple thing, moving your pension to an environmentally sustainable fund? Would you consider doing such financial move? Why or why not?
  5. They say that the most effective way to fight climate change is to move your pension into ethical investments. Share your opinion on this.
  6. Share your thoughts on this, “Luckily, the customer is always right, and by managing our money ethically, we can all help a little.”.

Cars Lose Their Value So Fast

B2 – Upper Intermediate

One of our largest lifetime investments may be a car. But unlike other investments like a house, a car’s value depreciates quite rapidly.

In what way and why?

Watch the video below to help you find out the answers to these questions.

Vocabulary Questions:

  1. What does “to be underwater on a loan” mean? “A car owner is underwater on a loan if their loan is larger than what their car is worth.” Give two (2) synonyms or similar expressions and make your own sentence using the term ‘underwater on a loan’.
  2. How about the word “abate“? “A lot of those trends have abated since, but those odd times led to lasting changes in the post-pandemic world.” Give two (2) synonyms or similar expressions and make your own sentence using the term ‘abate’.
  3. Do you know what “rein in” means? “The Federal Reserve has raised interest rates in order to rein in inflation and that has made borrowing more expensive.” Give two (2) synonyms or similar expressions and make your own sentence using the term ‘rein in’.

Discussion Questions:

  1. What are the 3 main reasons mentioned in the video that causes car depreciation?
  2. Do you agree to these reasons why cars lose their value? Why or why not?
  3. Could you consider cars as investment? Why or why not?
  4. Which do you consider is the better choice between a new car or a used one? State your stance.
  5. What are different factors a buyer should consider before buying a car?