Money Matters
Public
and Private Finance: earning, saving and spending money.
Private finance.
Questions:
1.
What
is “money”?
2.
Is it difficult to earn
money? Do you know the ways how to earn much money?
3.
Do
you know the ways to save a little money?
4.
Identify the
consequences of various financial decisions related to spending and saving.
Vocabulary:
1.
buy on credit - купувати в кредит
2.
discount
- знижка
3.
reduction
- зниження (цін), скидка
4.
special offer –
спеціальна пропозиція
5.
get....off- нижче (про ціни)
6.
to buy in bulk - оптом, великими партіями
7.
HP (hire-purchase)
deals - покупка чи продаж у кредит (на виплат)
8.
trading stamp - купон
9.
voucher - грошовий
виправдувальний документ, розписка, контрольний талон
10.
jumble sale
- розпродаж старих речей на благодійному базарі за низькими цінами
11.
charity shop
- магазин, що торгує старими речами і віддає виторг на благодійні цілі
12. to haggle - торгуватися (about, over ; with)
13. receipt - квитанція
14. refund – повернення грошей
15. bank statements – банківський звіт (на певну
дату)
16. cheque counterfoil – корінець чеку
17. bank transaction – банківська операція
18.
investment -
капіталовкладення
Definitions:
Money is 1) a medium of exchange that functions as
legal tender;
2) an
official currency, in the form of bank notes, coins, etc., issued by a
government or other authority.
Finance is the system of money, credit, etc., esp.
with respect to government revenues and expenditures.
Money is what people use to buy things. People spend money on goods and services. When you buy (or
purchase - formal) you usually pay
outright but sometimes you buy on credit. You may also be offered a discount or
a reduction on something you buy at a shop when there are special offers: e.g.
you collect packet tops that offer reduction on the next purchase. It means that you get, say, 5 hryvnyas off.
You can also have a discount if you buy in bulk. Sometimes, people prefer to
look out for special HP (hire-purchase) deals at good rates of interest. Such
things as trading stamps or gift vouchers or competitions with
once-in-a-lifetime prizes are rather amusing.
Jumble sales or charity shops will help you to
buy second-hand clothes. When you are on bazaar it is possible to haggle about
prices. Pay attention that in most cases only shops can give you receipts and
guarantees and in case you want to return something which you have bought there
you may be given a refund – your money will be returned. Some people prefer
refund rather than goods exchange.
Less popular, but rather profitable for some
people is taking holidays out of season at cheap rates and using a telephone at
off-peak, cheap-rate times. To delay payment of bills until the final demand is
not recommended.
Many people save part of their money by
changing some foreign currency when the rates of exchange are favourable. To
make sure there are no errors try to check your bank statements and cheque
counterfoils at each bank transaction.
People earn money by performing services. They also earn money from investments, including government bonds.
Talking points
to earn/make one's living - заробляти на життя
1. Have you got any experience in earning money? Do you think it is
difficult?
2. What are the most popular ways for teenagers in Ukraine/abroad to earn a
pocket money? Why does the Ukrainian Government protest against the child’s
labour?
3. What is the most profitable sphere of life in your opinion? How are you
going to earn your living in future?
Reading:
Many
people save part of their money by changing some foreign currency when the rate
of exchange is favorable. To make sure there are no mistakes try to check your
bank statements and cheque counterfoils at each bank transaction.
People earn
money by performing services. They also earn
money from investments, including government bonds.
The
government, sometimes, pays out money to people in need, e.g. disability
allowance. Recipients draw a pension/unemployment benefit or are on the dole or
on social security.
A company may sell shares to members of the
public who are then said to have invested in that company. They should be paid
regular dividends on their investments, depending on profit or loss made by the
company.
Every country has its own special currency.
Every day the rates of exchange are announced and you can discover how many
dollars there are currently to the hryvnya.
Fill in the gaps with the correct word.
1.
When you retire you receive a …… . (fine/grant/pension)
2.
The kidnappers demanded a …… .
(ransom/reward/penalty)
3.
A salesman is paid a …… on the goods he sells.
(salary/commission/percentage)
4.
The workers get a Christmas …… of $100.
(reward/bonus/prize)
5.
The jobless people can get a …… from the Government.
(benefit/ration/dole)
6.
What is the …… rate today, please?
(currency/exchange/money)
7.
Bank can pay you 14% …… on your savings.
(rate/rent/interest)
8.
The …… of the dollar has fallen recently.
(price, worth, value)
9.
Your cheque is ……, no one can cash it. (secured/crossed/foolproof)
10.
To buy a house you have to obtain a large ……
from your bank. (mortgage/loan/grant)
Choose
a topic and give your arguments for and against. Explain the meaning of the
italicized idioms.
1. The more we get the more we want.
2. At present, our Government should not be concerned with the problems of
an individual money earning.
3. While making one's living, most of other important things in life are
simply missed.
4. The loss of money is more than compensated for by the joy of having free
time.
5. Saving money for a rainy day is only for the people in need.
6. It's easy to fritter away a fortune if you're made of money.
Public finance.
Questions:
1.
Does the Government
help people in need with the money? How?
2.
Study the names for the
defined money expressions.
Vocabulary:
1.
profit- 1)
прибуток 2) дохід 3) користь
4) вигода
2.
pay out – виплачувати
3.
disability allowance
– допомога з приводу непрацездатності
4.
unemployment benefit -
допомога по безробіттю
5.
to go on the dole -
отримувати допомогу
6.
social security –
соціальне забезпечення
7.
share - акція
8.
dividend – дивіденди, частка
9.
loss - втрати, збитки
10. recipient - одержувач (коштів,
допомоги)
The government collects money from citizens
through various taxes. Income tax is the tax collected on wages and salaries.
Inheritance tax is collected on what people inherit from others. Customs or
excise duties have to be paid on goods imported from other countries. When you
buy goods or services you pay VAT – value added tax. Companies pay corporation
tax on their profits.
The government, sometimes, pays out money to
people in need, e.g. disability allowance. Recipients draw a
pension/unemployment benefit or are on the dole or on social security.
A company may sell shares to members of the
public who are then said to have invested in that company. They should be paid
a regular dividend on their investments, depending on profit or loss made by
the company.
Every country has its own special currency.
Every day the rates of exchange are announced and you can discover how many
dollars there are currently to the hryvnya.
Learn
the names for the defined money expressions by heart:
A.
|
Salary
|
-
|
a fixed
amount which is paid, usually monthly, to workers of higher rank
|
|
a loan
|
-
|
an amount of money which you lend to someone
|
|
a debt
|
-
|
a sum of money which is owed to someone
|
|
cash
|
-
|
money which is in the form of coins and notes, not cheques
|
|
a wage
|
-
|
an amount of money you receive, usually weekly, in return for labour or service
|
|
alimony
|
-
|
money paid
by divorced father to his former wife for the upkeep of his children
|
|
duty
|
-
|
tax on imported goods paid to the Customs
|
|
a bill
|
-
|
paid at a restaurant after eating
|
|
interest
|
-
|
extra percentage paid on a loan
|
|
a fee
|
-
|
money paid for professional services, e.g. to a doctor
|
|
a grant
|
-
|
money paid by the state, usually to students
|
|
a pension
|
-
|
money paid by a company or the state on your retirement
|
|
a fine
|
-
|
paid as a punishment for breaking the law
|
|
taxes
|
-
|
paid to the government for services that the state provides
|
|
a fare
|
-
|
paid while travelling, especially on public transport, buses, trains, etc.
|
B.
|
royalties
|
-
|
money
paid to authors or inventors according to the sales of their work
|
|
an investment
|
-
|
a sum of money used to make more money from something
that will increase in value
|
|
a mortgage
|
-
|
the money which a building society or bank lends to
someone to buy a house
|
|
a premium
|
-
|
the money that a person pays to an insurance company to
protect against loss or damage
|
|
an allowance
|
-
|
money, usually from a relative, to live on
|
|
a bonus
|
-
|
an additional payment which is a reward to those who
work for a company for their extra work
|
|
an overdraft
|
-
|
the
amount of money borrowed from a bank, greater than that which is in your account
|
|
a legacy
|
-
|
money received from someone in his or her will
|
|
a dividend
|
-
|
the amount of money that goes to a shareholder
|
|
maintenance
|
-
|
money
paid by divorced or separated people to support the former husband or wife
|
|
a share
|
-
|
Part of the value of a company that you may buy
|
|
a deposit
|
-
|
Part- payment of money which you make to stop the
seller from selling his goods to
others
|
|
commission
|
-
|
an amount of money, related to the value of goods sold,
which is paid to a salesman for his
services
|
Complete
the words. Each (—) represents one letter.
1.
On bus — — — es I spend a rather big sum of
money.
2.
If you want to bring something through the
Customs you have to pay a _ _ _ _.
3.
Some people live on the _ _ t _ _ _ _ _ office
savings account.
4.
The family of my friend is quite _ _ _ _ off,
because the parents brought in a good __l___.
5.
An estate property would be a good _ _ v _ _ _
_ _ _ t; it's bound to increase in value.
6.
You’d better start to _ _ v _
your money in order not to have _
_ n _ _ _ _ _ _ troubles.
7.
The main advantage of a _ _ _ _ u _ book or _ _
_ d _ _ card is that you don't have to carry
cash around with you.
8.
I carry loose change* in my pocket and _ _ _ _
s in my leather _ _ 1 _ _ _ _.
