It’s time to balance the books! In this lesson, students will discuss the topic of money and using a budget. This lesson features a video of people being interviewed about their spending and saving habits. Students will learn and practice phrasal verbs and vocabulary relating to this topic. The lesson includes plenty of engaging discussion activities and worksheets that have been developed for adults and teenagers.

Lesson Objectives

To discuss using a budget and spending and saving habits

To learn and review phrasal verbs

To develop speaking and listening skills

To learn and use new vocabulary relating to the topic

Video

Do you use a budget? In this video, a personal finance expert and a self-made millionaire explain the truth behind budgets and whether they are actually needed in order to become successful. Listen to what people of New York City think about money and budgeting.

Video Transcript

Vocabulary and Pronunciation

budget [noun]: a financial list of expected expenses and income over a particular period

app [noun]: short for application

gotta [verb]: the short form of “got to”

fiancé [noun]: a person who promised to marry another

pay something off [phrasal verb]: to give back all the money that you owe

sick of something [phrase]: to be annoyed with something because you have experienced too much of it

hold your horses [idiom]: used when you want to tell somebody to stop and reconsider their decision or opinion about something; stop and think again

lay something out [phrasal verb]: to explain something in a clear and detailed way

splurge [verb]: to spend a lot of money on buying expensive goods

self-made [adjective]: made by oneself; successful as a result of one’s own effort

side hustle [noun]: a job that you do in addition to doing your main job, for extra income

scarcity [noun]: a lack of something

mindset [noun]: a way of thinking or set of attitudes held by someone

plain [adverb]: completely

look back [phrasal verb]: to think of something that has happened in the past

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