EE EEE Mon 1A Ce occas oe acTe Cece TIC OREN 2) a ier eet reset aT Den ons g Managing your finances Reading 1 Look at Maria's bank statement. Complete her account summary. ‘Account summary First Bank Opening balance £2,900 Payments sth eet Payments out £0) Geng oaane Tia Birmingham Overdraft limit £2,100 BRS 5a IBAN: erorinsTasreoassossot nado Bie STESEONSC Sort code: ‘e760 23 Decomber'e 22 January fccount'mumber: —S2e3000 Sy, fecaminane’MsNereebens ——«Sheetnumbers 2, [BY Your current account details Date [Payment type _ | Detal Paid out_[Paidin [Balance 22 Des Balance brought forward £2300 23 Doo | Transfer Salen 2928 [e472 [27 Dec [withdrawal | IBIATM No. 32 £250 24473 131 Dec [Credit Bi interest EZ £4,507 104 Jan |i] Standing order | Rent £450 £4,057 06 Jan |[flJ Direct debit | Telephone: £57 [£4,000 Svan [Direct debit |Home insurance £68 53.992 21 Jan [Direct deo | crea cars 2218 sa714 000 (e257 [Balance cavied forward earie Teller Machine 2 Match sentences 1-7 to letters A~Gon the bank statement in 1. Maria has a current account, Maria sees how much money she has at the end of the month. — She pays her rent every month by standing order. — She pays other bills by direct debit. — She withdraws cash at ATMs. — She receives her salary on the 23rd of the month. She receives interest once a year. — ‘Vocabulary 3 Complete these sentences with the words in the box. ATM balance home insurance Thave a(n) Isee a(n) My —___ credit rent ‘current account salary standing order direct debit withdrawal shows how much money I have in my account. at my bank to make payments and receive money, ‘on my account when someone pays money into it. Tusually get cash out of my account at a(n) Imake the same payment every month with a(n) My employer pays my into my account. Ihave to protect my home. pay bills each month automatically. [use Every month I pay for my flat 10. take money from my account. Itis a(n) Speaking 4 Work in pairs. Look at Peter's monthly budget and answer these questions. 1 How much does Peter pay for insurance every month? 2 How much salary does Peter receive? 3 How much does Peter pay for petrol every month? Outgoings salary [$1,821 [rent 3575) food 3370 electricity: monthly payment $56 ‘home insurance: monthly payment $28 credit card $126 pension cont sus, clothes $24 ‘car insurance: monthly payment S42 petrol $35 savings $150 other $220 Language Present simple We use the present simple to talk about ‘acts, repeated actions and habits. ‘My current account doesn't pay interest. fact) ‘She pays her rent every month by standing order (repeated action) We withdraw cash at an ATM. (habit) 5 Lookat the questions in 4, Write five more questions about Peter's income and outgoings. Then ask a partner A: How much does Peter pay for rent every month? B:Hle pays $575. Write your own monthly budget. Show your income and outgoings. What is your balance at the end of the month? Ask your partner about their monthly budget. Do they have any direct debits or standing orders? Which bills do they pay with them? Speaking 6 Write a short report about the money that you spend each month. Every month I receive... . I pay for... buyFinance and the economy Speaking 1 Workin pars. What activities do these illustrations represent? Are these activities important for the economy? Why/Why not? Use the words in the box to help you. buy factory produce finance housing market manufacturing retailing sell Vocabulary 2 Match words 1-9 to definitions ai. loss demand share Interest investment supply profit loan mortgage a) money that you borrow from a bank b)_ selling something for less than you bu} ©) money that you pay to borrow money @)_ ownership of part of a company ©) income greater than expenses f) goods and services that people sell g) money that you borrow to buy a house or flat h) money that is put into a business 1) goods and services that people want to buy Reading 3 Complete this introduction to finance from a consumer website with words from 2. The economy and the world of finance Two key principles of the economy are supply and ‘demand. Some people have goods or services to sell and other people want to buy those goods or services. The relationship between supply and (1) 1s very important. The world of finance is a necessary part of the economy. People need money to do business. Banks first collect money from customers. Then they lend ‘money to people or institutions. Customers who borrow money pay (2) 1 the bank tnt they pay the money back. There are different typos of (3) For example, people who want to buy a house or flat usually choose a(n) (4). (6) —_____in shares of stock is another part ofthe financial world, People buy shares and then ‘own a part of a company. They hope to make a(n) (6) wen the company does well. When. the company does not do well the investor makes a(n) (7) ‘These are some ofthe ways that financial institutions help the economy.5 Speaking 6 Vocabulary 7 8 Listening 9 10 Speaking 11 Match 1-6 to a-f to make sentences. 1 Customers pay intereston a) money to customers. 2 The economy needs b) make investments? 3. Banks often lend ) lend money to every customer, 4 Doyou sometimes d) a mortgage? 5 Wedon't e) money they borrow. 6 Dothey have 1) strong financial institutions. Which sentences in 4 are facts? Mark these F, Which are repeated actions or habits? Mark these R/H. Work in pairs. Discuss these questions. 1 Why is the relationship between supply and demand important? 2 In your country, which goods and services are popular? 3. Do the prices of these goods and services change often? Give examples. Match words I-4 to their opposites ad. 1 borrow a) sell 2 toss ») supply 3° demand ¢) lend 4 buy ©) profit Write sentences with the words in 7. There is a big supply of houses but there is no demand for them. Listen to two telephone conversations and match speakers 1 and 2 to sentences a-c. There is one extra sentence, a) This customer has a question about interest. b) This customer wants to invest in a company. ©) This customer needs a mortgage. — Now complete the conversations with words from 7. Then listen again and check your answers. 1A: Good morning. AFC Bank, can I help you? B: Good morning. 1am a customer of the bank and I want to (1) some money. Az Yes, sir. Which department do you want? Er ... what is the money for? B: Iwant to (2) a flat A: Justa moment. Oh yes, Mr Sharma is free. A: B: A: Good morning, lam interested in shares of NewCom, ‘Oh yes. Just a moment. I see that the price is quite high at the moment. I don’t want to buy expensive shares and sell them for less. Tdon’t want to make a(n) (3) B: Tunderstand. AllTech looks good today. The (4) for their shares is not so high at the moment. A: That sounds interesting, | want to make a(n) (5) with this investment. Work in pairs. Discuss these questions. Give details 1 Doyou pay rent or do you own a flat? 2 Doyou have a mortgage? Do you pay interest on it? 3. Do you get interest on your current account? 4 Doyou make investments?