Topic 1.6.4 Money
MONEY
Warm up
- Are you a spender or a saver?
- What things do people often spend too much money on?
- Do you have a personal budget?
Money adjectives
How would you describe the following people using the above adjectives?
- A typical student
- A successful entrepreneur
- A charity worker
- An extravagant actor
- A charitable donor
- A supermarket cashier
Prices
In pairs, describe the following deals using the expressions above.
- €100 for a 10-minute taxi ride
- A meal in your favourite restaurant
- $50 for a night in a 5-star hotel
- A flight ticket with a budget airline
- Train fares in your country
- Beer or coffee in your hometown/city (compare different cafes and bars)
Words that go with money
Discussion questions
- Do you think governments allocate enough money to education and healthcare?
- What are some of the most effective ways to earn money in today’s economy?
- What are the consequences for businesses that are caught laundering money?
- Is it easy or difficult for people to set aside money for retirement? Why?
- What are some common ways people squander their money?
- Do you withdraw money from your account these days?
- If you won a large sum of money, how would you spend or invest it?
Idioms with money
Guess the idioms from the definitions.
In pairs discuss these questions:
- Do you tend to save money for a rainy day or spend it like water?
- Have you ever told someone to ‘put their money where their mouth is’?
- Are there many people in your country or hometown who are made of money?
- Can you think of anything that is ‘easy money’?
Debate ideas
“Is being cheap a negative or a positive trait?”
A: being frugal or tight-fisted is smart financial management
B: it’s inconsiderate or selfish.
“Should affluent individuals be required to give more to charity?”
A: wealthy or well-off people have a moral obligation to be generous and help those hard-up or penniless
B: it’s a personal choice and they shouldn’t be pressured.
“Is money doesn’t grow on trees still a valid principle in today’s consumer culture?”
Do young people today understand the value of money, or does society encourage wasteful spending and the pursuit of easy money?
“Are luxury brands a total rip-off or worth the price?”
A: luxury goods are way too expensive and daylight robbery
B: they offer good quality for the price and even reasonable value for money.
“Is saving money for a rainy day more important than enjoying life now?”
A: saving money and financial security are important
B: it is important to spend and enjoy life, even if it means being broke sometimes.
Role plays
In pairs role play one or more of the following situations.
- At a Restaurant: Debating the Bill
Characters: Two friends with different spending habits.
Situation: One friend finds the meal a bit pricey and says it’s a total rip-off, while the other thinks it was reasonable value for money. They debate whether to split the bill or pay individually, with one being frugal and the other spending freely.
- Charity Fundraising: Should the Wealthy Give More?
Characters: A charity fundraiser and a wealthy businessperson.
Situation: The fundraiser is asking the businessperson to make a donation, arguing that they are well-off and should be generous. The businessperson is hesitant, feeling tight-fisted, and says they are not made of money.
- Buying a Used Car: Bargain or Rip-Off?
Characters: A car buyer and a seller.
Situation: The buyer is looking for a real bargain but thinks the car’s price is way too expensive. The seller insists it’s good quality for the price, but the buyer feels it’s daylight robbery. They negotiate until they agree on a good deal.
- Planning a Vacation: Different Spending Approaches
Characters: A couple or friends planning a vacation.
Situation: One person wants a luxury vacation, saying, “Let’s spend money like water and have fun!” The other, more frugal person, insists on saving and finding reasonable value for money, saying, “Remember, money doesn’t grow on trees.”
- Shopping for Clothes: Expensive vs. Bargain Shopper
Characters: Two friends shopping for clothes.
Situation: One friend loves buying designer clothes and insists that “this shirt may be a bit pricey, but it’s worth it.” The other friend, who is hard up and penniless, looks for a real bargain and says the shirt is a total rip-off.
- Office Argument: Budget Cuts
Characters: Two coworkers discussing a company’s budget.
Situation: One coworker wants to be frugal and cut costs because “money doesn’t grow on trees.” The other feels the cuts are unnecessary and claims the company should be more generous with its spending on employee perks, arguing it’s a good deal for morale.
Homework
Money Word Definitions
Choose five of the following money-related words (allocate, earn, launder, set aside, squander, withdraw, win) and write their definitions in your own words. Then, use each in a sentence related to finance or money management.
Idioms related to money
Find the meaning of these idioms
- To break the bank
- To tighten your belt
- To cost an arm and a leg
- To be in the red
- To bring home the bacon
- To have deep pockets
Video
Watch this TED Talk “3 psychological tricks to help you save money”