Tag: finance

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? 

A Student Credit Card

B2 – Upper Intermediate

It’s getting harder these days for students to afford their day-to-day expenses. In fact, the majority of fresh graduates in the US incur thousands of dollars in debts even before they can start making money. As a result, many of them take out loans. This is an opportunity for banks to offer credit cards to students. Having credit cards help students pay their daily expenses. However, it could also be the cause for students to sink further into debts and ending up in the red.

Let’s click the link and listen to how the woman used her student credit card.

A Student Credit Card

Discussion Questions:

  1. Is it common for students to take out loans in your country?
  2. What is your opinion about having student credit cards?
  3. What are the advantages and disadvantages of owning credit cards when you are still a student?
  4. How was your financials when you were still a student?
  5. What were your sources of funds when you were still studying?

Credit Card Rewards

B2 – Upper Intermediate

When we use credit card rewards, we think it’s our banks that shoulders our bills. How very thoughtful and generous of them, right? What most of us do not realize, though, is that businesses have got to find a way to compensate for that.

Find out about the ugly truth behind who really foots these credit card rewards.

https://www.vox.com/the-goods/22454885/who-pays-for-credit-card-rewards

Discussion Questions:

  1. Do you use credit card rewards to purchase things? Talk about your experience.
  2. What do you thing about this: “Credit card perks reward rich Americans to the detriment of the poor.”?
  3. Would you say that the payment system in your country has also evolved into a reverse Robin Hood? Explain.
  4. Has knowing that every time you use a rewards card to pay for something you buy at some shop, some others paying in cash is footing some part of your tab changed your thoughts about (using) rewards cards? Support your stand.

A Two-Step Plan for Saving More Money

B2 – Upper Intermediate

The importance of saving money cannot be understated. In fact, with so many proven benefits, saving money is one of the best financial habits you should adopt. 

Saving money is like working out or eating right — it’s easier said than done. Managing your money can feel scary and complicated, but it doesn’t have to be.

Let’s watch the video about the steps that can help us achieve a more secure financial future.

Discussion Questions:

  1. What are your thoughts on this adage, “Pay yourself first.”?
  2. Do you agree with the 2-step plan for saving more money as mentioned in the video?
  3. Which do you enjoy more: earning money or spending money?
  4. Do you save enough money? What savings goals do you have?
  5. How often do you think about money? Is money a stressful part of life?

Bitcoin Explained and Made Simple

B2 – Upper Intermediate

Cryptocurrency is becoming more and more popular. There are a few widely accepted cryptocurrencies and the number keeps growing. Just like stocks, they are even widely traded across trading platforms.

Bitcoin is the most popular cryptocurrency. As of writing, it is valued at around $58 000. But what is Bitcoin?

Let’s watch the video and learn more about the cryptocurrency Bitcoin.

Discussion Questions:

  1. What is “the double-spending problem” and what was the solution to it?
  2. What are your thoughts on Bitcoin?
  3. What are the good and bad things about such currency system?
  4. Do you agree that Bitcoin is the future of finance? Why or why not?

Boost Your Financial Health

B2 – Upper Intermediate

It says that spending more money on experiences rather than material things could boost your happiness. This video mentions why having a financial day could save you and how you can use it to your advantage.

Watch this video to learn how to evaluate your fixed expenses and how can cutting back your expenses could help you build more happiness.

Discussion Questions:

  1. Why is it important to take a financial day?
  2. What do you think about devoting a day for financial matters?
  3. Are the tips mentioned helpful? Are you doing some/most of them?
  4. Do you like spending money on things or experiences? Why or why not?
  5. Do you make it a point to track and evaluate your expenses? Why or why not?