Financial management Vocabulary Budget is a financial plan

Financial management

Vocabulary Budget- is a financial plan for a defined period of time, usually a year. Overuse-is - to use (something) too much Essential-necessary Expenses-cost. payment Income-proceeds, pay Disaster-trouble, catastrophe Aid-assist Debt-debit, default Benefit-present, grant Opportunities-occasion

Review the previous lessons

Look at the pictures and match the words. analyze, success, lead, invest, manage, save

Match the words and their definitions.

Look at the pictures. Picture A presents four ‘actions’. Complete the following statement.

Read the words in the box and select two of them. Explain the importance of your choice to your partner stating the role of them in your life. stay away from the family, budget, overuse, Do ‘free’ things, essential expenses, list of income and expenses, non-essential expenses, financial disaster, apply for scholarships and grants, keep records of expenses, put one’s roommate in financial planning, financial aid office, manage one’s debt

3 (T 11) Listen to the tape. Which of these frequently asked questions has not been mentioned by the speaker? a. What are the key components of budgeting? b. Do you manage your finance properly? c. Are there any types of expenses? d. Is budgeting important? e. What can I spend? f. Are there any tips for managing money? g. Does financial management require any special skills?

Put the points in the correct order numbering 1 -10

Discuss the following questions. What tips can you suggest to your friend in managing his/her budget? Why do you think the tips to be useful? Prove your suggestion with your own life examples.