What are common monthly expenses for a student living on their own, including student or car loans? How about a family of four? Write a list of your expenses, figure out how much money you spend on each area, and what percentage of your income pays for each.
Listen to a conversation between friends about money and answer 5 questions.
After the listening, check if you understand the new vocabulary:
- buck (noun): dollar
– Could you load me a buckor two until tomorrow?
- be strapped for cash (idiom): have no money available
– He has really been strapped for cashbecause he lost his job two weeks ago.
- pinch pennies (idiom): be careful with money
– That young couple had to pinch penniesso they can live.
- in the hole (idiom): in debt
– My brother has charged so some many purchases to his credit cards that he’s is the hole.
- make ends meet (idiom): make enough money to live
– When I was a student, I had to work three part-time jobs to make ends meet.
- land (verb): find
– I need to landa good job where I can earn a lot of money.
- be loaded (adjective): having a lot of money
– Don’t let him borrow money off you because, in reality, he’s loaded. His rich parents give him $2,500 in spending money a month!
- budget (noun): a financial plan of expenses and income
– You should create a budgetof your expenses.
- keep track of (idiom): keep a record of
– Any business should keep track ofits earnings.
- run out (phrasal verb): use up or exhaust
– If you don’t keep a budget, you might run outof money before your next paycheck.
- utilities (noun): services provided by gas, power, and water companies
– The rent for this apartment includes the cost of utilities.
- pay through the nose (idiom): pay an excessive amount of money
– Car insurance is so expensive that you have to pay through the noseto get any type of coverage these days.
- knack (noun): a special way or ability of doing something
– My mother has a real knackfor saving money on her low salary.
- blow (verb): spend thoughtlessly or wastefully; throw away
– People sometimes blowmoney on things that have no lasting value.
- commute (verb): travel back and forth between work and home
– I commuteby bus everyday.
- curb (verb): lessen or reduce
– Unless you curb your spending, you’re going to run out of money before the week is over.