Ex.3 Discuss which of the services described in the text you’d use in your everyday life and which not. Explain why.

Ex.4 Insert the following words and expressions in the sentences using each word only once.

Access code, ATM, assets, balance, cleared checks, deposits, dividends, e-statement, identity theft, interest, member number, portfolio, surcharge, transactions, transfer, volatile market, waive, withdrawal.

1. The … on a home loan is the largest part of a mortgage payment for many years. 2. We made a $750 … for our vacation from our savings account. 3. Jack was a victim of … ; someone else used his social security number. 4. If you want to know which checks have been cashed, go online to check your … . It will show you all your … . 5. Joyce always forgets her … and can't get into her account. 6. Jerry had to list his … when he applied for a loan. 7. Stockholders get very nervous during a … because things are so unpredictable and a lot of money can be lost. 8. You get a … when you join a credit union. 9. Could you please … $500 from my savings account to my son's checking account? 10. … paid into your account each month are often small, but they add up overtime. 11. If you need cash, let's stop at an … . 12. Tell me the … on your credit card statement. 13. Kerry never goes to the bank to cash her checks because she has automatic … . 14. A judge will often … the fine if you go to court for your first traffic ticket. 15. The bill was much more than we expected because there was a … . 16. I checked on my most recent … to see if the check had cleared. 17. Would you like to add a utility stock to your … ?

Ex.5 Read this text which is full of the idiomatic expressions.

In the Black

During the dot.com era, stocks skyrocketed in a bull market, making a lot of people filthy rich. Money making was so easy and people had so much dough that they were laughing all the way to the bank! But a short time later, the bubble burst and the bull market became a bear market. Companies were priced right out of the market and began to go bust. Suddenly a lot of people were down on their luck because their companies went broke and couldn't afford to keep them on. It got so bad that some people could only get jobs where they were paid under the table so that their employers didn't have to pay the extra bucks in taxes. Everyone was in the red.

Ex.6 Try to translate, explain or find synonyms to the following words and expressions from the text.

To skyrocket

bull market

money making

dough

laughing all the way to the bank

bear market

priced right out of the market

to go bust

down on their luck

to go broke

under the table

bucks

in the red

Ex.7 Listen to the text and say if these statements are true, false or it was not mentioned in the text.

1 Credit unions do not have checking account services.

2 You can become a member of a credit union.

3 Banks pay dividends on both checking and savings accounts.

4 It is usually cheaper to use a bank than to use a credit union.

5 Credit unions' ATMs are usually free to members.

6 A credit union member can make deposits at any ATM.

Text 4

Ex.1 Read the text about money and develop your linguistic and cultural competence in his area. Say, what new have you learned about money in Britain and America.

Money

Money is used for buying or selling goods, for measuring value and for storing wealth. Almost every country now has a money economy based on coins and paper bills of one kind or another. However, this has not always been true. In primitive societies a system of barter was used. Barter was a system of direct exchange of goods. Somebody could exchange a sheep, for example, for anything in the market-place that they considered to be of equal value. Barter, however, was a very unsatisfactory system because people's precise needs seldom coincided. People needed a more practical system of exchange, and various money systems developed based on goods which the members of a society recog­nized as having value. Cattle, grain, teeth, shells, feathers, skulls, salt, tobacco have all been used. Precious metals gradually took over because, when made into coins, they were portable, durable, recognizable, and divisible into larger and smaller units of value.

American money comes in coins worth 1 (pennies), 5 (nickels), 10 (dimes), 25 (quarters), and 50, though half dollars aren't very common. Paper money is in denominations of $1, $5, $10, $20, $100. Two, fifty and one-hundred dollar bills exist, but they aren't common. Don't be surprised if a bank teller or store clerk looks very closely at a hundred dollar bill to make sure it's real!

British money comes in coins which are as follows. Coppers: one penny (1p), two pence (2p). Silver: five pence (5p), ten pence (10р), twenty pence (20p), fifty pence (50p). Gold: one pound (£1). There are bank notes at £5, £10, £20 and £50.

The one-pound coin has four different designs: an English one, a Scottish one, a Northern Irish one and a Welsh one (on which the inscription on the side is in Welsh; on all the others it is in Latin).

In Scotland, banknotes with a design are issued. These notes are perfectly legal in England, Wales and Northern Ireland, but banks and shops are not obliged to accept them if they don't want to and nobody has the right to demand change in Scottish notes.

Banks are open in Britain from 9.30 to 3.30, Monday to Friday. Some are also open on Saturday mornings. Outside these times, you can often change money at Thomas Cook or other travel agents, during normal shop hours (9 to 5 or 5.30 p.m.). Outside London there are rarely any other places to change money.

Ex.2 Below is an English family's budget in pounds sterling for next month. Look at it to see where their money is coming from and how much is going out. Note down how you think they could save money and any differences between this budget and a family budget in your country.

Look, everyone, I think we ought to try and economise a bit this month – go carefully on our spending money, cut out a few luxuries, just generally cut down a bit.

Balance:– £8.50

Ex.3 Earning and spending money. Act out or write a conversation between various members of this family, discussing how perhaps they could cut down and save a little money.

Ex.4 Below are a number of ways of saving or making money. Note down which you think are sensible and which you would not recommend. If you are working in a group, discuss your notes. If you are working on your own, write a brief summary of them.

1buying in bulkto beat inflation

2 looking out for genuine reductionsand real bargainsin the sales

3 buying supermarket brandsrather than brand-name products

4buying economy-sizepackets and tins of things

5 collecting packet tops that offer discountson the next purchase,have '5p off'labels on them or contain forms for special offers

6 looking out for special HP (hire-purchase) dealsat good rates of interest

7delaying payment of billsuntil the final demand

8taking your holidays out of seasonat cheap rates

9buying second-handclothes in jumble salesor charity shops

10buying products that offer trading stampsor gift vouchersor competitionswith once-in-a-lifetime prizes

11using the telephone at off-peak, cheap-ratetimes

12shoppingonly at places where money can be refundedrather than goods exchanged

13 changing your foreign currencywhen the rates of exchangeare favourable

14 checking your bank statementand cheque counterfoilsto make sure there are no errors

15 looking after receiptsand guarantees

Ex.5 Which expression from the list of comments below would you use about yourself at the moment? Notice how many expressions we have for rich and poor, reflecting our obsession with money, and how we often refer to pence as p in everyday conversation.

He's a multi-millionaire.

She inheritedmillions (an oil-heiress).

They won a fortune.

She's got more money than sense.

They're made of money.

He's a very wealthybusinessman.

She's extremely well-off.

You're looking very prosperous.

They say we're living in an affluent society.

He's comfortably off.

Money doesn't buy happiness, but it helps.

I'm a bit hard upat the moment, actually.

I'm down to my last ten p.

He's broke.

They're on the breadline.

I haven't got a pennyto my name.

I'm afraid we're bankrupt,gentlemen.

Now I know what it's like to be poverty-stricken.

I'm running into debt.

I owemoney everywhere.

I'm heavily in debt.

I'm a few thousand in the red.

I'm up to my ears in debt.

I wonder if it's true that crime doesn't pay!