Managing money: talking about your finances

A2
90 min
Free
1

Think about these questions before reading. Share your ideas with a partner.

  1. What is something special you want to save money for?
  2. What do you spend most of your money on every month?
  3. When you were a child, what was your favorite thing to buy?
2

Saving Money

Listen to the dialogue. Notice how the vocabulary and grammar from the lesson are used.

3

Read the statements about the article. Decide if they are true or false.

01The lesson is about managing your money.
02The article says we use the Past Simple tense for actions that are happening now.
03The lesson includes vocabulary about 'investing' money.
04A 'budget' is a type of food you can buy at the supermarket.
05The lesson teaches phrases for talking about money at a bank.
4

Key vocabulary

Vocabulary
These expressions will help you talk more naturally about money.
Examples
save up for (something) — to keep money over time to buy something expensive in the future.
Use this phrasal verb for big goals. For example: 'I am saving up for a new car.'
pay a bill — to give money for a service you have used, like electricity or internet.
This is a common collocation for regular payments. For example: 'Did you remember to pay the phone bill?'
be on a tight budget — to have a limited amount of money to spend.
This is a useful phrase to explain why you can't spend much money. For example: 'I can't go out for dinner, I'm on a tight budget this week.'
cut back on (something) — to reduce the amount of money you spend on something.
Use this phrasal verb to talk about spending less. For example: 'We need to cut back on shopping.'
keep track of (your spending) — to record and follow where your money goes.
This phrase is about managing your money carefully. For example: 'I use an app to keep track of my spending.'
5

Complete the sentences with words from the box. One word is extra.

Word bank
01I can't go to the cinema this week. I'm on a very tight .
02I want to buy a new phone, so I need to some money every month.
03I use an app on my phone to how much I spend on coffee.
04Did you remember to pay the electricity this month?
05If you want to save money, you should back on eating in expensive restaurants.
6

Grammar: past simple vs. present simple

Grammar
We use the present simple to talk about habits, routines, and facts that are true now. We use the past simple to talk about finished actions or situations in the past.
Examples
I save 10% of my salary every month.
Use the present simple for a regular habit or routine.
Last week, I bought a new phone.
Use the past simple for a single, completed action in the past.
He usually walks to work, but yesterday he took the bus.
Here we see the contrast: 'walks' is a present habit, and 'took' is a specific past action.
Key points
  • Use present simple for routines and facts (often with words like 'always', 'every day', 'usually').
  • Use past simple for finished past actions (often with words like 'yesterday', 'last year', 'in 2020').
  • Remember to use the past form of the verb for the past simple (e.g., 'go' becomes 'went').
7

Find the mistake

Read the sentences about managing money. Can you find the error in each one?

Each sentence has one mistake. Find it and correct it.

01Last month, I save a lot of money for my holiday.
Corrected version
Last month, I save saved a lot of money for my holiday.
02She always pay her bills on time.
Corrected version
She always pay pays her bills on time.
03I need to cut back in my spending on coffee.
Corrected version
I need to cut back in on my spending on coffee.
04My monthly expenses is very high this month.
Corrected version
My monthly expenses is are very high this month.
05I am saving up to a new car.
Corrected version
I am saving up to for a new car.
06Yesterday, I payed for my groceries with cash.
Corrected version
Yesterday, I payed paid for my groceries with cash.
07It's a good idea to open savings account when you get a job.
Corrected version
It's a good idea to open a savings account when you get a job.
8

Vocabulary for your money

Learn some new words to talk about personal finance.

Match each word with its correct definition.

Drag or click to match
Definitions
9

Odd one out

Read the groups of words below.

Which word or phrase does not belong in each group? Think about the common connection.

01with the nounSaving money
02with the nounThings you pay for
03with the nounPlaces for money
04with the nounTypes of cash
05with the nounActions with money
10

Discuss these questions with a partner. Try to use vocabulary from the lesson.

  1. Think about a time you had to save up for something special. What did you cut back on to save money?
  2. Is it better to use cash or a card to keep track of your spending? Why?
  3. In your country, do young people usually learn about money from their family or at school? What do you think is better?