Warm-up
Answer a few quick questions before today's lesson about money.
Listening
Listen carefully to the recording and answer each question. You can replay the audio up to two times.
Listening — Should we save or spend? A financial perspective
Read all the questions carefully before the recording begins. You will hear the recording twice.
Reading
Read the passage on the left, then work through the questions on the right.
Reading — The Money Dilemma: When Should You Spend?
Read the passage on the left, then answer the questions one by one.
The Money Dilemma: When Should You Spend?
Most people struggle with the same financial question: should I save my money or spend it now? The answer depends on your situation, priorities, and what financial experts call 'delayed gratification'—the ability to wait for future rewards instead of enjoying them immediately.
Saving money offers clear benefits. If you saved $50 every month for two years, you would have $1,200 for emergencies or larger purchases. People who build savings feel less stressed about unexpected costs like medical bills or car repairs. However, some people save so much that they forget to enjoy life. They delay buying things they need or want, missing out on experiences and happiness today.
Spending money has advantages too. When you spend on experiences—like travel or learning a new skill—you gain memories and knowledge that last forever. You also support your local economy and help businesses grow. But excessive spending can create serious problems. If you spent $100 every week without planning, you would have no money left for emergencies.
The key is balance. Financial advisors suggest the 50-30-20 rule: spend 50% of your income on needs, 30% on wants, and save 20%. If you followed this plan, you would protect your future while still enjoying the present. The best financial choice isn't always to save or spend—it's to do both wisely.
Vocabulary Practice
Practise the 12 key vocabulary items from this lesson through three exercises.
Vocabulary Practice — Should we save or spend?
Work through all three parts. Each part uses the same vocabulary in a different way.
Writing Task
Your friend Alex has just received €2,000 as a gift. He is unsure whether to save it or spend it on a holiday. He has emailed you asking for advice. Write an informal email to Alex giving your opinion on what he should do with the money.
You should address:
- Explain what you think Alex should do with the money
- Describe what would happen if he chose the other option (using a second conditional)
- Suggest one specific thing he could do with the money
Speaking
Speaking task. Read the instructions, then complete the task.
After the Lesson
Reflect on what you learned and how confident you feel now.
Teacher Guide
Practise with
- affordverb
to have enough money to buy or pay for something
- airfarenoun
the amount of money charged for traveling by airplane
- bank accountnoun phrase
An arrangement with a bank where you can deposit and withdraw money.
- deductverb
to subtract or remove an amount from a total
- economizeverb
to save money, avoid waste
- overchargeverb
to ask for too much money for goods or service
- overpayverb
to pay more money than the correct or expected price for something
- payableadjective
able to be paid; requiring payment at a particular time
- rewardnoun
something given in return for good work
- subsidizeverb
to pay part of the cost of something to make it cheaper for people