Tag: finance

Divorce Affects Your Finances

B2 – Upper Intermediate

Divorce is not pleasant. It is, nevertheless, the appropriate decision at times. But regardless of whether it occurs in your lifetime, everyone should be aware of what would happen to a couple’s money in the event of a divorce.

It might be challenging but crucial to have a clear grasp of finances throughout a divorce. You have power over your future when you have control over your finances.

Here are some things to consider if you’re thinking about getting a divorce, are already going through one, or rebuilding your life.

Discussion Questions:

  1. Is the divorce rate high where you are from? Why do you think that is?
  2. How do you view divorce?
  3. In your country, how are marital assets divided after a divorce? What about the repayment of loans obtained prior to the divorce?
  4. How does divorce affect a person’s taxes?

Building Credit from Scratch

B2 – Upper Intermediate

In several nations, credit is a crucial part of everyday financial life, so if you’re just getting started, building your credit history will be your first step.

The issue is that before approving you for a loan or credit card, many businesses want to verify your credit, and they can be wary if you don’t already have a credit history. Fortunately, there are a few methods to get over this possible obstacle.

You may learn how to start developing your credit by watching the video.

Discussion Questions:

  1. What comes to your mind when you hear the word ‘credit’?
  2. How does the credit system work in your country?
  3. In your country, is it necessary for you to have a credit history to be able to borrow money from the bank?
  4. What is the process for obtaining a bank loan for a property in your country?
  5. How have you built your credit score?

Refinancing Mortgage Loans

B2 – Upper Intermediate

Buying a house is probably the biggest financial decision we ever have to make in our lives. Most people do not have enough funds to cover the entire cost of their house that is why they turn to banks or other financial institutions for financial assistance. When mortgage rates go down, some people see this as a chance to refinance their mortgage.

Let’s listen to this short commercial to know more about mortgage refinancing.

Refinancing Mortgage Loans

Discussion Questions:

  1. How does mortgage refinancing work?
  2. What are the benefits of refinancing a mortgage?
  3. Do you see any pitfalls in refinancing a mortgage?
  4. Do you have a mortgage? Does this option seem appealing to you?

How Does the Stock Market Work?

B2 – Upper Intermediate

In a nutshell, the stock market helps companies raise money to fund operations by selling shares of stock. It creates and sustains wealth for individual investors.

Watch the video to know more about how the stock market works.

Discussion Questions:

  1. What is your investing strategy?
  2. Do you invest in the stock market? How has your portfolio performed in the last five years?
  3. How can you prevent losses while trading in stock markets?
  4. When is the right time to invest? Why?

Investors Buy Up Metaverse Real Estate

B2 – Upper Intermediate

The metaverse describes a vision of a connected 3D virtual world where real and digital worlds are integrated using technologies such as virtual reality and augmented reality. It is now possible to buy and trade things in the metaverse like plots of land or even virtual houses.

Watch the video to know what owning a virtual land has to offer.

Discussion Questions:

  1. Why do you think investors are paying real money to buy virtual lands?
  2. Would you invest in the Metaverse real estate? Why/why not?
  3. Do you think investors are playing a risky game and winning in cryptocurrency? Elaborate.

Teaching Children the Real Value of Money

B2 – Upper Intermediate

Being young does not mean that children cannot grasp deep and difficult topics like the value of money and how to be financially responsible. By starting early and giving them interesting and relatable concepts, they learn essential lessons and attitudes that they need to possess once they’re earning and have their own money to manage. When they know how to make good financial decisions as they grow up, they avoid financial problems in the future.

Read this article to find out how to teach children the real value of money.

https://www.theguardian.com/money/2021/dec/13/how-to-teach-children-the-real-value-of-money

Discussion Questions:

  1. Why do you think teaching children this is important?
  2. What are some tips that you can add to the list?
  3. Do you think schools should include finance classes starting on 1st grade? Why or why not?
  4. Talk about your experience of financial awareness growing up and as you started working. Was it a difficult journey or not?
  5. How different is it at this current age to openly discuss and get children involved with finances as compared to 10 or 20 years ago?
  6. Does regional culture play a role in how financial topics are discussed within the family? Explain your answer.

Retire in Your 30s

C1 – Advanced

The thought of having the financial freedom to enjoy what you love doing and have the opportunity to live the lifestyle you want without feeling restricted to access your own retirement savings is how most people define pre-retirement.

Watch the video to know how retiring early might seem like an impossible financial goal but with the right plan, it can be done.

Discussion Questions:

  1. What are your thoughts on early retirement?
  2. How will you spend your time in retirement? How will you keep your body and mind healthy?
  3. What do you want a day in retirement to look like?
  4. How will you define yourself and derive self-worth post-career?
  5. What will your social circles and interactions be like?
  6. What is your backup plan for dealing with financial emergencies or hardship?

Saving Money by Going Green

B2 – Upper Intermediate

Why go green? A green lifestyle is important for many reasons. The most obvious benefit is it helps make our planet sustainable and habitable. We focus on reducing, reusing, and recycling whenever possible. We ensure that we reduce the imprint we leave on the environment.

Many people assume that going green means spending more. But actually, it doesn’t have to be difficult. And it can even result in more savings than we might expect.

Let’s watch the video below on how going green can actually help us save more money.

Discussion Questions:

  1. How does going green benefit us?
  2. In your opinion, does living a green lifestyle help save us money?
  3. Do you consider yourself a green person? Why or why not?
  4. Are you willing to spend more on eco-friendly products? Why or why not?
  5. Have you ever donated your time or money toward environmental causes? Which organization did you help? What is their focus?

How Billionaires Avoid Paying Federal Income Tax

B2 – Upper Intermediate

We’re all familiar with this principle that “With great power comes great responsibility”. Same goes for wealth. Safe to say, with great wealth comes great financial burdens. One of them is taxes.

Read the article to find out how exactly do billionaires avoid paying federal income tax.

https://www.businessinsider.com/how-billionaires-avoid-paying-federal-income-tax-2021-6

Discusion Questions:

  1. How are wealthy people able to dodge federal income taxes?
  2. What are your thoughts on billionaires getting away with not paying federal income taxes?
  3. What are other ways to avoid paying taxes?

Young People Put Off Driving

B2 – Upper Intermediate

Driving is a rite of passage. They say it is a very important life skill. It can even represent freedom and maturity.

But during the pandemic lockdowns, one activity that was prohibited was traveling. Hence, people had to stop driving. With everything going on now, is it worth it to take lessons given that the prices of lessons and insurance could be rather steep?

Read the article on why young people are putting the brakes to learning how to drive during the pandemic.

https://www.theguardian.com/money/2021/may/22/cost-young-people-learning-to-drive-covid-driving-lessons-insurance

Discussion Questions:

  1. What does driving mean in your life?
  2. How was your experience learning how to drive?
  3. Why are young people putting off learning to drive? Do you think you have the same problem in your country?
  4. What’s the importance of insurance especially for young/novice drivers?
  5. If you were just to learn how to drive now, would you also put it off? Why or why not?