Money & Finance Interactive Learning
"A penny saved is a penny earned."
Kate Orlova • @orlovarich
Vocabulary & Conversation
Reading Comprehension
What is Money?
Homework: Get Rich Tips
VOCABULARY PRACTICE
salary
regular payment from an employer
income
money received for work or investments
debt
money that is owed or due
interest rate
percentage charged for borrowed money
withdraw money
take money out of an account
deposit money
put money into an account
investment
allocating money for profit
tax
compulsory contribution to state
discount
deduction from the usual cost
borrow
take and use with intention of returning
lend
allow someone to use temporarily
Complete the sentences using the correct word from the vocabulary
Click on a word above, then click on a blank in the sentence to fill it in.
1. She saves part of her monthly so she can travel every year.
2. His total includes his salary and the money he earns from renting his apartment.
3. They took a loan to buy a house and now have a lot of to pay back.
4. The bank increased the , making it more expensive to take a loan.
5. I need to go to the ATM to money for tonight's dinner.
6. He went to the bank to money into his savings account.
7. Buying stocks in a successful company is a good .
8. People must pay to the government based on their earnings.
9. The store offered a 20% on all electronics during the sale.
10. Can I some money from you until I get paid next week?
11. Banks usually don't want to money to people with bad credit history.
CONVERSATION PRACTICE
Imagine you are in a bank. One person is a customer who wants to open a savings account, and the other person is the bank employee. Practice asking questions and giving advice about saving money, opening accounts, and managing finances.
Customer Questions
- How much money do I need to start a savings account?
- What is the interest rate on this account?
- Can I take money out whenever I need?
- Are there any fees for this account?
- What documents do I need to open an account?
Bank Employee Responses
- You can start with as little as $25 for a basic savings account.
- Our current interest rate is 1.5% APY for savings accounts.
- Yes, you can withdraw money anytime, but there may be limits on certain transactions.
- There are no monthly fees if you maintain a minimum balance of $300.
- You'll need a valid ID, proof of address, and your social security number.
A BAD TRAVEL EXPERIENCE
A STOLEN WALLET AND A CAFE SCAM
Last month, I went on a solo trip to a beautiful city in Europe, excited to explore and enjoy the sights. One afternoon, I stopped at a charming café, ordered a coffee and pastry, and relaxed. After finishing my treat, the waiter brought the bill. It seemed a bit higher than I expected, but I didn't question it and paid with my credit card, leaving a generous tip.
However, as I walked away and reached for my phone, I realized something shocking — my wallet was gone. I quickly checked my bag and jacket, but it was clear that it was missing. In a panic, I returned to the café, hoping I had left it on the table. The waiter looked confused and said he hadn't seen anything. I asked for the manager, but he wasn't available either.
After speaking with a local, I found out that this was a common scam. Tourists are often distracted by overcharging or high bills, and during that time, thieves steal their wallets. I had been so focused on the bill that I hadn't noticed someone taking my wallet from my bag.
Though it was a tough experience, I was lucky enough to cancel my cards before any further damage was done. Despite this setback, I remained careful and tried to enjoy the rest of my trip.
True or False?
Click on True or False for each statement. The correct answer will be shown immediately.
1. The author went on a solo trip to a city in Europe.
2. The café was not charming at all.
3. The author paid for the coffee and pastry with cash.
4. The wallet was stolen while the author was focused on the bill.
5. The author was able to find the manager of the café immediately.
6. The local explained that overcharging in cafés is a common scam targeting tourists.
7. The author was able to cancel their credit cards in time to avoid further damage.
8. The author was calm and didn't worry about losing the wallet.
9. The author went back to the café after realizing the wallet was missing.
Read the text again and answer the questions.
Where did the author go on their trip?
What did the author order at the café?
How did the author pay for the coffee and pastry?
What happened after the author walked away from the café?
What did the author do when they realized their wallet was missing?
What did the local tell the author about the scam?
Was the author able to find their wallet at the café?
What did the author do after the incident to prevent further damage?
WHAT IS MONEY?
Money
Bank
Save
Spend
Income
Borrow
Debt
Bills
Price
Exchange
Complete the text with the words from the box
Click on a word above, then click on a blank in the sentence to fill it in. The correct answer will be shown immediately.
How much do you spend on food every month?
I need to go to the to withdraw some cash.
People usually money for their future goals.
I usually a lot of money on shopping.
My monthly is enough to cover my rent and bills.
He had to some money from his friend to buy the new phone.
If you have too much , it can be difficult to save money.
I have to pay my at the end of the month.
The of this book is $20.
When you travel abroad, you need to your money to the local currency.
WHAT IS MONEY? - Video
Watch the video and decide whether the following statements are true or false
1. Bartering was an efficient system that worked better than money.
2. Money needs to be durable, portable, and widely accepted.
3. Shells and salt were never used as money in history.
4. The main problem with bartering is that people must find someone who wants exactly what they have to trade.
5. Money makes trade easier by providing a standard value for goods and services.
6. Gold and silver have been commonly used as money in the past.
7. Trust is not important for money to work.
8. Money allows people to save wealth more easily than bartering.
9. In modern economies, paper money and digital transactions are commonly used.
10. The value of money depends on people's trust in it.
Billionaire Quiz - What is Money?
What was the main problem with the barter system?
Which of the following is NOT a characteristic of good money?
Which of these items has been used as money in history?
What makes money valuable?
10 TIPS : HOW TO GET RICH
Start saving early
The earlier you start saving money, the more you can benefit from compound interest and grow your wealth over time.
Invest wisely
Consider investing in stocks, real estate, or mutual funds to increase your money over the long term. Do thorough research or consult a financial advisor.
Live below your means
Spend less than you earn and avoid unnecessary debt. The more you save, the more you can invest.
Develop a skill or expertise
Specializing in a particular field or skill can make you stand out and lead to higher-paying job opportunities.
Create multiple streams of income
Don't rely on just one source of income. Consider side jobs, passive income, or investments to increase your earnings.
Start a business
If you have a good idea and the drive, starting your own business can potentially bring high rewards and profits.
Network with successful people
Surround yourself with individuals who are financially successful and learn from their experiences and advice.
Take calculated risks
While it's important to be cautious, sometimes taking risks (such as investing in stocks or starting a business) can lead to bigger rewards.
Focus on long-term goals
Rather than looking for quick ways to get rich, focus on long-term financial planning and building wealth gradually.
Educate yourself about money
Read books, take courses, and stay informed about personal finance, investing, and wealth-building strategies.
MATCH THE ADVICE WITH ITS DESCRIPTION
Advice
START SAVING EARLY
LIVE BELOW YOUR MEANS
DEVELOP A SKILL OR EXPERTISE
CREATE MULTIPLE STREAMS OF INCOME
START A BUSINESS
NETWORK WITH SUCCESSFUL PEOPLE
TAKE CALCULATED RISKS
FOCUS ON LONG-TERM GOALS
EDUCATE YOURSELF ABOUT MONEY
Description
A. Start putting money aside as soon as possible to take advantage of interest and grow your savings.
B. Take the time to learn about personal finance and investing to make smarter financial decisions.
C. Spend less than you earn and avoid unnecessary spending to save more money.
D. Build expertise in a field that interests you, which can lead to higher-paying job opportunities.
E. Find different ways to earn money, such as a side job, investments, or creating passive income.
F. Take the chance to launch your own company if you have a good idea and the skills to manage it.
G. Connect with wealthy and successful people to gain valuable advice and opportunities.
H. Sometimes taking risks, such as investing in stocks or trying a new business idea, can pay off.
I. Set your focus on long-term goals rather than looking for quick and easy ways to make money.
