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    Making The Most of Your Money

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    ANDRES FELIPE CONTRERAS SUAREZ
    The document provides advice for young people on learning to budget and save money. It recommends saving 10% of income before spending on anything else. It also advises not spending raises immediately but putting them into savings. While saving is important, it notes it is easier if small rewards are allowed along the way like occasional treats. It emphasizes that starting to save early is very beneficial due to compound interest and getting used to lower consumption while working. Regular small savings each week can add up over time with little impact on weekly spending. The goal is to convince young people to start saving money early in life.

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    Making The Most of Your Money

    Uploaded by

    ANDRES FELIPE CONTRERAS SUAREZ
    59 views2 pages
    The document provides advice for young people on learning to budget and save money. It recommends saving 10% of income before spending on anything else. It also advises not spending raises immediately but putting them into savings. While saving is important, it notes it is easier if small rewards are allowed along the way like occasional treats. It emphasizes that starting to save early is very beneficial due to compound interest and getting used to lower consumption while working. Regular small savings each week can add up over time with little impact on weekly spending. The goal is to convince young people to start saving money early in life.

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    nivel ingles 6

    Original Title

    FIRST EVALUATION

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    The document provides advice for young people on learning to budget and save money. It recommends saving 10% of income before spending on anything else. It also advises not spending raises immediately but putting them into savings. While saving is important, it notes it is easier if small rewards are allowed along the way like occasional treats. It emphasizes that starting to save early is very beneficial due to compound interest and getting used to lower consumption while working. Regular small savings each week can add up over time with little impact on weekly spending. The goal is to convince young people to start saving money early in life.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    59 views2 pages

    Making The Most of Your Money

    Uploaded by

    ANDRES FELIPE CONTRERAS SUAREZ
    The document provides advice for young people on learning to budget and save money. It recommends saving 10% of income before spending on anything else. It also advises not spending raises immediately but putting them into savings. While saving is important, it notes it is easier if small rewards are allowed along the way like occasional treats. It emphasizes that starting to save early is very beneficial due to compound interest and getting used to lower consumption while working. Regular small savings each week can add up over time with little impact on weekly spending. The goal is to convince young people to start saving money early in life.

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    © All Rights Reserved
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    of 2

    CLIC

    LEVEL 6TH

    Read the article and mark the correct letter A, B, C or D. 


    Making the most of your money

    For young people –from high school students who are given allowances from their parents or who are already doing
    part-time jobs to college graduates walking out into the world- learning to plan their budgets is a very important skill.
    And in many cases, it means taking the simple advice that parents give them. 

    For example: save up to 10% of your income before anything else. If you are already working, don’t spend your pay
    rise as soon as you get it, put it into savings. If you are living away from home, learn to cook and never borrow money
    to pay for something which goes down in value quickly, like a car. 

    However, remember that saving is a lot easier if there are small rewards along the way. Don’t deprive yourself of
    daily treats like a coffee or a drink with a friend. Otherwise, life seems dull and boring and saving is that much more
    difficult. And there’s something nice: find a partner and stay together. Studies show that two can live more cheaply
    than one-and that divorce is the great destroyer of wealth.

    But there’s another important issue to consider. There may be a debate among economists about how much 50 and
    60 years old should be saving- but there is little dispute about how much the young should save: more. Saving whilst
    young is important, and not just because of the power of compounding. Compounding means that if you start saving
    now, it will build to a larger amount by the time you are 65 than if you wait to start at 45. Or to put it another way,
    you can save a smaller amount now rather than a larger amount later. 

    Another good reason to get into the habit of saving is that people who save a lot get used to a lower rate of
    consumption while working, so less money is needed in retirement. Stretching to save a little more yields a double
    dividend: you accumulate more and you lower the amount you will need in retirement because you will not have the
    habit of spending extravagantly to feel fulfilled. 

    A regular habit of savings costs your very little each week. You easily wasted that money last week on things you
    cannot even recall this week. A useful exercise proves the point: for a week, list everywhere you spend cash. Could
    you save another 10 percent a week? If you can, you are on the right toad to saving. 

    1. What is the writer trying to do?


    a. Convince people to save money when they are young. 
    b. Explain that marriage is the best form of saving.
    c. Describe some ways of saving money.
    d. Offer advice about investing money.

    2. What is the writer’s attitude to saving?


    a. People must cut any kind of expenses.
    b. People shouldn’t be too strict when saving.
    c. It’s hard, but you can always afford something valuable.
    d. A partner might give you a hand to save.

    3. The writer would like the reader to realize that


    a. starting to save when you are an adult is the best thing.
    b. if you save more at a young age, you’ll buy more after retiring.
    c. the earlier you start saving the better it is.
    d. once you are used to saving, you’ll never stop. 

    4. How might the reader feel after reading this text?


    a. Worried about the value of money.
    b. Annoyed.
    c. Thankful for the advice given.
    d. Interested in making more money.

    LISTENING

    Listen to the recording. Choose the best option A, B or C for each question.   

    1. In the 1860s, Charles Worth was designing clothes for


    A. his wife.
    B. aristocratic women.
    C. actresses.

    2. Who does James consider fashion trendsetters today?


    A. aristocratic women and film stars.
    B. film and music stars.
    C. film, music and sports stars.

    3. What does James say about the star Madonna?


    A. She’s not a fashion icon.
    B. She always wants to be original.
    C. She loves cowboy boots.

    4. Lots of famous people donate their clothes because they want to


    A. support charities.
    B. make some money.
    C. empty their wardrobes.

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