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Conversation Intermediate · Module 11 · Unit 51

Saving vs. Spending

B1 Intermediate Upper

Learning Objectives

In this lesson, you will discuss budgeting and financial goals and learn practical vocabulary for daily communication.

Discussion

Direction: Answer these questions.
  1. Do you follow a strict monthly budget?
  2. What is one financial goal you want to achieve this year?
  3. How do you keep track of your daily spending?

New Words & Expressions

Direction: Listen and repeat these words with your teacher.

  • Budget

    noun

    /ˈbʌdʒɪt/

    Meaning:An estimate of income and expenditure for a period.

    I need to stick to my budget.

    Real Life Tip:

    Crucial for living within one s means.

  • Debt

    noun

    /det/

    Meaning:Money that is owed or due.

    I want to pay off my student debt.

    Real Life Tip:

    Often viewed as something to be cleared quickly.

  • Pay off

    phrasal verb

    /peɪ ɔːf/

    Meaning:To finish paying a debt.

    I hope to pay off my car soon.

    Real Life Tip:

    A very common financial milestone.

  • Cut back

    phrasal verb

    /kʌt bæk/

    Meaning:To reduce the amount of something.

    I need to cut back on dining out.

    Real Life Tip:

    Used to describe lifestyle changes.

  • In the red

    idiom

    /ɪn ðə red/

    Meaning:To lose money or be in debt.

    My account is in the red this month.

    Real Life Tip:

    Indicates a negative financial status.

  • Bucks

    slang

    /bʌks/

    Meaning:Dollars.

    That cost me fifty bucks.

    Real Life Tip:

    Very common way to say dollars.

Conversation

Direction:

  • Listen carefully as your teacher reads the conversation aloud.
  • Role-play the conversation with your teacher
Michael and Emma review their project budget over lunch.
  • Michael
    We need to set a strict budget for the project.
  • Emma
    I agree. I do not want to be in the red.
  • Michael
    Maybe we can cut back on unnecessary software fees.

Q&A

Direction: Answer the questions based on the conversation.
  1. Why does Michael want a budget?
  2. What will they cut back on?
  3. What does Michael have to pay off?

Exercise

Direction: Choose the correct answer to complete each sentence, then read it aloud. Each question gives you 5 Points.

  1. What does in the red mean?

  2. What is another word for bucks?

  3. I need to pay ____ my debt.

  4. I should cut ____ on expenses.

  5. to / budget / a / stick / strict

  6. debt / off / I / pay / need / to

Ask Your Teacher

Direction: Ask your teacher these questions.
  1. How do you pay off your debts?
  2. What do you cut back on when saving?
  3. Are you ever in the red?

Your Time To Speak

Direction: Answer using the language you have learned in this lesson. Talk about yourself!
  1. Do you have a budget?
  2. Is your debt high?
  3. How many bucks do you save?
  4. Do you cut back on dining?
  5. Are you currently in the red?
  6. How do you plan your goals?
  7. Do you like to track money?
  8. What is your financial advice?
  9. Do you use apps for budgets?
  10. Is money stressful?
Emma
That is a great idea. We can save a few hundred bucks.
  • Michael
    I also have some personal debt to pay off.
  • Emma
    Take it one step at a time, Michael.
  • Michael
    Thanks. Having a clear plan really helps.
  • Emma
    You are doing great.