Introduction - Life on the never-never
Buying something on the never-never is a British expression. It means that if you want to buy something, but you don’t have enough money, you can get a loan. Then you pay back the loan with interest. It always means though that you will pay more than if you had bought the item initially.
This second section contains 6 steps. Work them through step by step.
Step
Activity
1 Words
Match the words with their definition. An exercise with words and expressions which have to do with money.
2 Reading
Read an article about credit cards. Tick the topics. Fill in the correct paragraph title and answer questions with a classmate.
3 Grammar
1. About Passive. Complete the rule. Do the exercises. Study Grammar Desk. 2. About Future. Do exercises and match meaning of sentences. Study Grammar Desk.
4 Words Idioms
Check meaning of idioms. Fill in correct answer to the questions.
5 Song
Listen to song about Money. Fill in the gaps in the lyrics.
De onderstaande antwoorden moet je zelf nakijken; vergelijk jouw antwoorden met de goede
antwoorden, en geef aan in welke mate jouw antwoorden correct zijn.
Reading
You’re going to read an article that gives some advice about credit cards.
First, look at these topics. Which do you think will be mentioned?
Talking to the bank manager
Paying bills on time
How to avoid paying more money
How to increase your credit
Avoiding buying things you cannot afford
Live only on cash
Now read the article quickly and check your answers.
A. [...............]
Each of your credit card transactions is tracked. A statement is a breakdown of your transactions for the month. It is important to note that your statement period does not necessarily begin at the start of each month. If you are unsure of when it starts and ends, talk to your credit card company. At the end of the period, you will be given a summary of your spending in the form of a paper or online statement along with your balance owing and payment due date. Read your statement carefully! Look at what you have been using your credit card for and determine whether
those purchases were, in fact, necessary. When debt is a cloud overhead you should be putting on a
pair of rain boots, not a new pair of heels.
B. [...............]
It may be appealing to pay that minimum payment of $10 rather than the $100 you put on your card
last month, but failing to pay the full balance on your credit card will only set you back further. For
example, if you were to only make the $10 minimum payment then it would take you 10 months to pay
off $100 at which point you will have likely added on another few hundred dollars in purchases. Most
credit cards also have a monthly interest rate. Paying your credit card balance on time and in full will
help you avoid any additional interest charges. Keep in mind, however, it is always better to pay back
something than nothing.
C. [...............]
Companies love tacking on additional fees to customer accounts and banks are no different. It may seem
convenient to withdraw money from the ATM with your credit card, but unlike your debit card the charges
for cash advances on your credit card can be substantial. Once additional charges are accounted for
that single withdrawal will have left a bigger hole in your wallet than you had intended.
D. [...............]
Now, you may be thinking: “If I had money why would I need a credit card?” But just as you should not be
spending money on things you do not need, you most definitely should not be spending money that you do
not have. Exceeding your credit card limit will not only put you in the red but will result in additional fees.
Treat your credit card as you would your debit card, which is hopefully by spending only the amount that
you have available in your account. If you have $200 in your account, and you need to spend $50 on gas,
then use your credit card to pay for gas, and immediately transfer $50 from your account. This way you are
effectively using your credit card, improving your credit, and staying within your limit.
E. [...............]
Until your credit card situation is under control keep to a cash-only diet. Set yourself a budget per month for
all your expenses and the purchases you expect to make. It will be easier to save than spend when you
have to hand over physical cash instead of swiping your card.
Prior to solving any problem you have to understand it. By gaining a better understanding of your financial
situation and the role your credit card plays you can find a balance between spending and saving. Follow
the above tips and you will gradually build your credit while avoiding the pitfalls of credit card debt that so
many of your classmates will experience this school year.
Now you’re going to read the text again. Choose and fill in the correct paragraph title. (There are two you do not need)
Spend Only What You Can Afford
Avoid temptation
Avoid Extra Fees
Maintain a Cash-Only Diet
Read your statement carefully
Pay Your Balance in Full
Read and Understand Your Credit Card Statement
Answer the following questions with your classmate.
Do you agree with every point that the author makes? Why /why not?
Do you have a ‘good understanding’ of your financial situation?
Do you have an after school job? If so, what do you do with the money you earn? If not, do your parents give you pocket money, or do they buy you what you want? Explain what your situation is, and any reasons for it.
Do you plan to get a credit card in the future? Do you think it’s a good idea?
In what situations would you use it? In what situations would you not use it? Say why.
Step 3 - Grammar
Grammar: Passive
Let's look at the passive.
Now we are going to work out the passive. Look at these sentences.
The bank tracks each of your credit card transactions.
Each of your credit card transactions is tracked.
Complete the rules. Underline the correct option.
In sentence 1, we know/don’t know who the subject is.
In sentence 2, the most important thing is the action/ the person who did it.
De onderstaande antwoorden moet je zelf nakijken; vergelijk jouw antwoorden met de goede
antwoorden, en geef aan in welke mate jouw antwoorden correct zijn.
De onderstaande antwoorden moet je zelf nakijken; vergelijk jouw antwoorden met de goede
antwoorden, en geef aan in welke mate jouw antwoorden correct zijn.
De onderstaande antwoorden moet je zelf nakijken; vergelijk jouw antwoorden met de goede
antwoorden, en geef aan in welke mate jouw antwoorden correct zijn.
De onderstaande antwoorden moet je zelf nakijken; vergelijk jouw antwoorden met de goede
antwoorden, en geef aan in welke mate jouw antwoorden correct zijn.
De onderstaande antwoorden moet je zelf nakijken; vergelijk jouw antwoorden met de goede
antwoorden, en geef aan in welke mate jouw antwoorden correct zijn.
De onderstaande antwoorden moet je zelf nakijken; vergelijk jouw antwoorden met de goede
antwoorden, en geef aan in welke mate jouw antwoorden correct zijn.
Word Idioms
There are lots of idioms in English.
In the next exercise you'll see some idoms connected to money.
Use a dictionary to check the meaning of the idiom, e.g.http://dictionary.cambridge.org
Then choose the correct answer to the question in the dialogue.
Song
Listen to the song 'Money, money, money' from ABBA.
Listen and fill in the words at the correct place. Choose from: bills / day / dreams / fortune / free / mind / Monaco / night / penny / sad / wealthy / work
I work all ....[1]...., I work all ....[2]....,
to pay the ....[3].... I have to pay
Ain't it sad
And still there never seems to be a single ....[4].... left for me
That's too bad
In my ....[5].... I have a plan
If I got me a ....[6].... man
I wouldn't have to ....[7].... at all,
I'd fool around and have a ball...
Money, money, money
Must be funny
In the rich man's world
Money, money, money
Always sunny
In the rich man's world
Aha-ahaaa
All the things I could do
If I had a little money
It's a rich man's world
A man like that is hard to find but I can't get him off my ....[8]....
Ain't it ....[9]....
And if he happens to be ....[10].... I bet he wouldn't fancy me
That's too bad
So I must leave, I'll have to go
To Las Vegas or ....[11]....
And win a ....[12].... in a game
My life will never be the same...
Money, money, money
Must be funny
In the rich man's world
Money, money, money
Always sunny
In the rich man's world
Aha-ahaaa
All the things I could do
If I had a little money
It's a rich man's world (2x)
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Do you agree with the singer? Would life be better in a ‘rich man’s world’?
Give your reasons.
Step 6 - Task
Task 2
Your Australian friend, Toby, is going to visit your school.
You receive this email from him.
Write a reply to Toby in 180-220 words, answering his questions and giving tips how he can save money and then, probably he can stay a little bit longer!
Answers
B2 Life on the never-never
Step 1 Words
= f
= i
= d
= h
= a
= c
= b
= e
= g
Step 2 Reading
Paying bills on time
How to avoid paying more money
Avoiding buying things you cannot afford
Live only on cash
The correct paragraph title:
Read and Understand Your Credit Card Statement
Pay Your Balance in Full
Avoid Extra Fees
Spend Only What You Can Afford
Maintain a Cash-Only Diet
Step 3 Grammar
In sentence 1, we know who the subject is. (it's the bank)
In sentence 2, the most important thing is the action.
Het arrangement Life on the never-never v456 is gemaakt met
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