Ex.6 Match items from columns A and B to make idioms and use them, in the correct form, to complete the sentences.

1 When I was your age I was working twelve hours a day to… .

2 My new computer might have … but as far as I am concerned it was well worth it.

3 Andrew Carnegie, the poor immigrant who became a millionaire, is a great example of someone who … .

4 In these days of rising costs, it’s hard for a person with a family to … .

5 I know it’s a blow that I got demoted, but if we … we’ll be fine.

6 My grandfather always advised me against spending all my wages. He always said, “Better to …”.

7 We’re barely managing to … and you are out buying expensive clothes and make-up!

8 She’s been saving money since she was a teenager. I can imagine she … quite … by now.

9 That wealthy businessman was definitely Sue’s … . Before she met him she was penniless.

10 You went out and put all those purchases on the credit card and now I … . 

Text 5

Ex.1 Read the text.

Shopping with Plastic Money (by J. Povey)

Probably, the most striking change in shopping habits during the last twenty years or so is the sharp rise in the use of credit cards. According to the recent statistics, nearly 80% of big purchases are paid for with credit cards. These cards are made of plastic, so sometimes people call them just plastic money.

This is very different from the old form of credit: when you bought some­thing expensive, e.g. a washing ma­chine or a TV, you signed an agree­ment with a shop promising to pay for the goods in installments, weekly or monthly. With a credit card you can buy goods up to a certain limit in practically any shop. You simply hand the card to a shop assistant or cashier, they put it into a special machine, you sign the bill and get the goods. You can use your credit card not only for shopping but in restaurants, hotels, hair­dresser's, to buy rail and air tickets etc. Shops and other places that accept credit cards often display those which they accept in their window or in some other prominent place.

At the end of each month or a quarter you get an account, a state­ment from the bank or the company that issued the card, showing the places where you bought things or had some­thing done and the price. You have to pay not only for the goods or services you've had, but interest as well, interest for the money you've borrowed to pay for these things. Some companies don't charge interest if you pay your account immediately. The interest rate is over 20%, but it varies from one company to another and according to the economic situation.

Why do so many people use credit cards if they have to pay so much interest? The point is that credit cards are very convenient and many people don't think about the statement they get at the end of the month when they're shopping or having a meal in a restaurant or having their hair done. They show the magic card and get everything they want. When they see the amount of interest they think of it as payment for a service, they pay for the convenience of buying things on credit. But no one complains about the interest rate.

As for getting into debt, most people are very sensible and know how much they can afford to spend. A real problem is with young people. Banks allow and even encourage them to have bank accounts and credit cards. And young people want all sorts of things they can't really afford and can't resist the temptation to overspend. They haven't got much experience of deal­ing with money, so they often get into debt and ask their parents to help them out.

Nowadays a lot of cardholders are no longer satisfied with one credit card. They often have two or more as there's a limit to the amount of credit you can get with each card. It depends on your income as declared when you apply for the card. The more credit cards you have, the more money you can spend. Exercises

Ex.2 Give English equivalents for the following:

резкий рост, банковский счет, декларировать доход, взимать проценты, большие покупки, пластиковая карточка, платить проценты, растратить, оплата, платить в рассрочку, влезть в долги, снять деньги, вместо наличности, покупать в кредит, класть деньги в банк, владелец карточки.

Ex.3 Answer the questions on the text.

a) What do we use credit cards for? b) What do you have to pay for when using a credit card? c) Why are credit cards popular with people? d) Are there any disadvantages of using a credit card?

Ex.4 Translate the words in brackets.

When Kevin left school he (открыл счет в банке). The bank gave him (чековую книжку и кредитную карточку). Kevin enjoyed himself a lot but unfortunately, he wasn't very good with money and he (залез в долги). One day he went to (банкомату), and discovered that he couldn't (снять денег) because he was $100 overdrawn. The bank agreed to give him (кредит). Soon Kevin had (израсходовал этот кредит) and couldn't withdraw any more money. And so he got a credit card with a $2000 credit limit and went off to the Caribbean. Soon Kevin (попал в серьезные финансовые неприятности). Не had to (занять денег у своей матери) and get a second job to help him (выплатить долги).

Ex.5 Fill in the gaps with the appropriate word (the first letter is given).

– I’d like to open an a.......with your bank.

– Have you got your m.......in с.......?

– Yes, I have got 50,000 d.......in с.......But I'd like first to find out what i.......your bank p.......

– The i.......rate depends on the a.......of money deposited and on the length of time it will be k.......in the b.......

– And shall I be able to w.......my money from the a.......at any time?

– It depends on the с.......you'll have to make with the bank. In general, every d.......has the right to do so.

Ex.6 Use these words to complete the sentences. Use each item only once:bargain, on credit, rate of exchange, lend, loan, can't afford, borrowed, is charging, refund, insurance company, debts, get a discount.

a) The bank ... a minimum rate of 8 per cent for the loan. b) He didn't have enough money for the air fare, so he ... $1000 from his parents. c) Can you ... me five pounds till tomorrow? d) The company has ... of around $100 million. e) This coat was a ...! I got it for half the usual price! f) We ... a new car so we're looking for a second hand one in good condition. g) We got a favourable ... at the bank because our currency is quite strong at the moment. h) I asked my bank manager for a ... but he turned me down. i) The ... refused to pay the claim as they believed the shopkeeper started the fire deliberately. j) You’ll ... of ten per cent if you show your student card. k) They couldn't replace the camera so they gave me a ... l) Mail-order shopping grew in popularity as it was convenient and you could buy items.......

Ex.7 Translate into English.

– Я продал свой дом и хотел бы купить виллу. Но у меня для этого недостаточно денег. Что ты можешь мне посоветовать?

– На твоем месте я бы поместил эти деньги в банк или вложил их в ценные бумаги (securities). И через несколько лет ты сможешь купить себе виллу.

– Ты, случайно, не знаешь какой-нибудь банк, который платит высокие проценты?

– К сожалению, нет. Между прочим, ты можешь попросить денежную ссуду под проценты (to apply for a bank loan at interest). Тогда ты сможешь быстрее осуществить свою мечту. Кроме того, я тоже могу дать тебе немного денег взаймы.

– Это очень мило с твоей стороны. Большое спасибо. Я охотно последую твоему совету.

Text 6

Ex.1 Read the text.