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Lesson 27: Budget targets debt, boosts services

LET'S UNLOCK WORDS AND PHRASES 🔐

allowance

/uh-LOW-uhns/

- money or support provided for specific needs

The company offers an allowance for travel expenses.

asset

/AS-set/

- valuable property or resources owned by an entity

Real estate is an asset that can increase in value over time.

bank note

/BANK-note/

- paper currency issued by a bank

She exchanged a large bank note for smaller bills at the register.

bond

/BOND/

- a financial investment where money is loaned to an entity in return for interest

He invested in a government bond to save for retirement.

budget

/BUH-jit/

- a plan for managing finances or expenses

They set a strict budget for the event to avoid overspending.

commission

/kuh-MISH-un/

- a fee paid for a service, often in financial transactions

The real estate agent earns a commission on each house sold.

credit

/KREH-dit/

- an agreement to borrow funds to be repaid later

She used her line of credit to pay for the renovations.

currency

/KUR-en-see/

- the official money used in a country

Travelers exchanged their dollars for local currency.

debt

/DET/

- money owed to others

He worked hard to pay off his student loan debt.

deposit

/dih-PAH-zit/

- money placed into a bank account

She made a large deposit into her savings account.

estimate

/ES-tuh-mit/

- an approximate calculation or judgment

The team gave an estimate of costs for the new building.

exchange rate

/ex-CHAYNJ-rayt/

- the value of one currency compared to another

The exchange rate for euros to yen fluctuates daily.

fare

/FAIR/

- the price paid for a ticket or travel

The train fare increased due to rising fuel costs.

fee

/FEE/

- a payment for a service or privilege

A fee is charged for using the airport lounge.

fund

/FUND/

- a reserve of money set aside for a specific purpose

They set up a fund for disaster relief.

hike

/HAYK/

- an increase, often referring to prices or rates

There was a hike in food prices last month.

LET'S LISTEN! 🎧

Direction: Listen to the news and answer the comprehension questions below.



Lesson 27

COMPREHENSION QUESTIONS

1. What is the main goal of the new budget plans?

2. What financial support will low-income families receive?

3. How will the government raise funds for public projects?

4. What impact do officials hope to have on the economy?

LET'S PRACTICE 🎬

SITUATION

You are a government advisor helping to explain the new budget plans to the public in an easy way.


TASKS


Task 1: Write 2 sentences using vocabulary words to briefly explain why the budget changes are important for people.


Task 2: Pretend to ask your teacher, who is acting as a concerned citizen, about any worries they have. Use three vocabulary words in your questions. Example: “How will these changes in fees affect people’s daily expenses?”


Task 3: Ask your teacher (who now acts as a financial expert) one question to make sure you fully understand the topic. Example: “What is the best way to explain bonds and how they help fund public projects?”

LET'S DISCUSS

  1. How do you think raising fees might impact people’s daily lives? Could it help the community in any way?
  2. Why do you think having a stable exchange rate is important when people travel or shop for international products?
  3. If you were in charge, what types of public services would you focus on funding? How would you decide on the budget?
  4. How can giving people more credit options be helpful in times of financial stress? Are there any downsides?
  5. Imagine you had to create a plan to help families with financial challenges. What would be your top priority?