Money makes the world go round

Money makes the world go around

Vocabulary:

Credit card, wallet, bill, coin, ATM, cash, borrow, lend, invest, pay, afford, earn, inherit, discount, bargain, refund, VAT, barter

Questions:

• Are you good at saving money?
• Are you saving money to buy something?

o        If so, what are you planning to buy? How much will it cost?

• Do you compare prices at different stores when you shop?
• Do you enjoy shopping?
• Do you ever buy second-hand things? ("used things")
• Do you ever give money to charity?
• Do you give tips at a restaurant?
• Do you haggle when you shop ?
• Do you have a credit card?
• Do you have more than one bank account?
• Do you invest in the stock market?
• Do you often put money in the bank?
• Do you think that money can buy love?
• Have you ever bought a lottery ticket?
• Have you ever found any money? If so, what did you do with it?
• Have you ever had any money stolen from you?
• How important is money to you?
• How much did you spend yesterday?
• How much money do you have on you now? (Maybe not a polite question to ask.) :o)
• What bank do you use?
• What do you spend most of your money on?
• What is the average salary in our country?
• What is your opinion of discount stores?
• What was the last thing you spent money on?
• How do you think money helps make us happy?
• How much money do you want to earn each month?
• What qualities must a person have to make BIG money?
• Should children get an allowance (pocket money) from their parents?
• How do you usually spend your money? What do you usually buy?
• If you needed to earn some extra money, how would you do that?
• If you had a large amount of money, what would you do with it?
• Have you or your family ever won any money in a lottery?
• How much money would you have to win to be happy?
• Why do people often want more money, no matter how much they have got?
• Why are poor people in many cases more generous than rich people?
• What are some reasons for people being poor? Can poverty be avoided?
• How do people become rich?
• Is it better to pay cash or by credit card?
• Have you ever lent money to someone? Who? What did he/she need the money for?

Proverbs: What do they mean? Say them in other English words.

o        The best things in life are free.

o        Time is money.

o        Save your pennies for a rainy day.

o        Money talks.

o        You can't take it with you when you go.

o        Money doesn't grow on trees

Fill in the gaps in the text with the following words.

loan   deposit    bank    checking    standing     savings     interest     trustworthy     debit   income    job     mortgage     bank      automated teller machines     overdraft   credit     real     installments   transactions

How banks work

A 1) _______ is a financial institution which deals with money 2) _________. In a bank, you can borrow money in the form of a bank 3) _______, or you can put your money in a bank, in other words, 4) ________ money. In both cases, you need to open a 5) _________ account. There are two main types of bank accounts. They are a checking account and a savings account. You can use the 6) _________ account to pay your everyday bills. The 7) _________ account is used for depositing your extra money to a bank. The percentage that the bank pays you for using your money is called 8) _________.

Once you have opened an account, the bank can issue a 9) __________ card – a personal plastic card with an individual number and your signature on it – with which you can pay for goods and services. You can also use your debit card to withdraw cash from 10) ___________ (ATMs) as well as make online purchases and money transfers. Sometimes banks allow you to withdraw more money than what is available in your account. This is called 11) __________.

If you decide to take a loan from a bank, you will have to show the bank your good financial 12) __________. That is you need to prove that you have a regular 13) __________ or some other reliable source of 14) _________. If the bank considers you a 15) __________ borrower, it will

issue a 16) ___________ card which you can use to buy things such as a car. If you decide to buy 17) _______ estate, such as a house, you can take a mortgage loan from a bank. 18)________ means that you pledge your property to the bank as a security for the loan. If you fail to pay the 19) __________, the bank may confiscate your real estate in compensation for damages.