unit planting money

UNIT2“Planting"MoneyThereisanoldjokeabouttheconflictingideasonmoney:Onepersonremarks,"Moneyistherootofallevil,"andhisfriendresponds,"Iknow,I'vebeenrootingforitallmylife."Whatisyourview?A.Thefollowingwordsandphraseswillappearinthisunit.Listencarefullyandstudythedefinitions.1.worseoff:poorerorinamoredifficultsituation2.betteroff:havingmoremoneythanyouhadinthepastormoremoneythanmostotherpeople3.inherit:toreceive(money,ahouse,etc.)fromsomeoneafterhe/shehasdied4.budget:n.aplantoshowhowmuchmoneyapersonororganizationwillearnandhowmuchtheywillneedorbeabletospendv.tosavemoneyinaplannedway5.allowance:pocketmoney6.piggybank:asmallcontainer,sometimesintheshapeofapig,whichisusedbychildrenforsavingmoney7.passbook:asmallbookrecordingtheamountofmoneyyoupayinortakeoutofasavingsaccountatabankorbuildingsociety8.portfolio:acollectionofcompanysharesandotherinvestmentsthatareownedbyaparticularpersonororganization9.annualreturn:theamountorrateofincomethataninvestmentmakesinayear10.paycheck:theamountofmoneythatyouearninyourjob11.lottery:agame,oftenorganizedbythestateoracharityinordertomakemoney,inwhichticketswithnumbersaresoldtopeoplewhothenhaveachanceofwinningaprizeiftheirnumberischosenPartIBYouaregoingtohearsomepeoplegivingtheiropinionsaboutwealthandpoverty.Whatwouldyoureplytothesepeople?(Thisisanopen-endedquestion.)Audioscript:Narrator:Whatwouldyoureplytothesepeople?Alan:Well,asIseeit,millionsofpeopleintheworldareworseoffthanus,butthere'snothingwecandoaboutit.Woman:I'dsaythatifyoudohaveplentyofmoney,there'snopointinspendingitonprivateeducationforyourchildren.Man:Itseemstomethattheonlywaytohelpthepoorintheworldistofindwaysofhelpingthemtohelpthemselves....er...not...by...er...givingthemfreefood.Woman:Ifyouaskme,taxesforrichpeopleshouldbereallyhigh—95%orsomething—sothateveryoneisatthesameeconomiclevel.Man:Er...inmyviewit...it'sworthmakingalotofmoney...er...sothatyoucanleaveittoyourchildrenwhenyoudie.Man:Don'tyouagreethatifpeoplearestarvingorhavenowheretolive,it'sthedutyofbetteroffpeopletogivethemfoodandshelter?Woman:Look,let'sfaceit,there'sonlyonereasonwhypeopleworkandthat'stomakeasmuchmoneyaspossible.Man:Surely,aslongasyou'vegotenoughtoliveon,there'snopointinmakingmoreandmoremoney.Woman:Ifyou'reearningagoodsalary,surelyyoushouldsaveasmuchasyoucanforarainyday.Man:Imustsaythatonethingiscertain:moneydoesn'tbuyhappiness.PartICYouaregoingtoheartenshortconversations.Payspecialattentiontothesecondspeakerineachconversationwhoreactstothefirstspeakersopinion.Listencarefullytothetoneofvoice.Tickalltheproperboxestoindicatethesecondspeakersresponse.Audioscript:Narrator:You’llhearsomepeoplereactingtovariousopinions—decideiftheyareagreeingordisagreeingwiththeopinionsexpressed.Payattentiontothetoneofvoicetheyuse.1.Woman:Aren’tyougladyou’renotamillionaire?Man:Sure!2.Man:Don’tyouwishyoucouldaffordtospendyourholidaysintheCaribbean?Woman:Mm,ye-es.3.Woman:It’snotworthsavingyourmoney,it’sbettertospendit.Man:Oh,sure!4.Man:It’sbettertobehappythanrich.Woman:Hmm.5.Woman:Well,basically,inajobthemostimportantthingishowmuchyouearn.Man:Oh,yes!6.Man:It’sreallyimportanttosavealittlemoneyeverymonth—youneverknowwhenyoumightneedit.Woman:Idon’tknowaboutthat!7.Man:Theonlywaytosurviveonatightbudgetistokeeparecordofallyourexpenses.Man:Idon’tknowaboutthat!8.Woman:Childrenthesedaysgetfartoomuchpocketmoney.Woman:Mmm!9.Woman:Inafamilyitshouldbethemotherthatcontrolsthebudget.Woman:Yes!10.Man:IfIinheritedalotofmoneyitwouldn’tchangemylifeatall.Man:Oh,yes!PartIINationalTeachChildrentoSaveDayAsakid,heprobablyspendsallthemoneyhegetsasfastashecan.Bydoingthis,healsogetsa0%returnonhismoney.However,someofthekidsarealreadysavingtheirmoneyinabank.Thentheyareaheadofothers.A.Listentothereport.Supplythemissinginformation.NationalTeachChildrentoSaveDaySubjects:elementaryschoolchildrenacrossthecountryTime:Thursday,April17Sponsor:AmericanBankersAssociationEducationalFoundationPurpose:teachingchildrenhowtosavemoneyWayofteaching:2500bankersmaking5000presentationsB.Nowlistenagain.Thefollowingaresomeofthetipsforparentstofosterthesavingshabitintheirchildren.MatchColumnA(Purpose)withColumnB(Howtodo).MatchcolumnAwithcolumnB:4,3,2,1Audioscript:OnThursday,April17th,"NationalTeachChildrentoSaveDay",2,500bankerswillmake5,000presentationsinelementaryschoolclassroomsacrossthecountrytoteachchildrenhowtosavemoney."Bankersarecommittedtoinvestinginthefutureofchildrenbecausewewantthemtobeabletomakesmartfinancialdecisionsthroughouttheirlifetime,"saidAmericanBankersAssociationExecutiveVicePresidentDonaldG.Ogilvie,"Educationandmoneymanagementskillsarekeystoabetterlife."TheABAEducationFoundationdeclared"NationalTeachChildrentoSaveDay"asawaytoshowbankingindustrysupportforteachingchildrenmoneymanagementskillsandencouragingthemtosavemoneyforthefuture.TheFoundationcoordinatedagreateffortwithstatebankersassociationstoencouragebankerstoparticipatein"NationalTeachChildrentoSaveDay".Italsopreparedaresourcekitwithtoolstohelpbankersmakepresentationsinclassrooms.Morethan125,000studentswillbepartofthisnationalinitiative.TheABAEducationFoundationalsoofferstipsforparentstofosterthesavingshabitintheirchildren:•Givethemanallowancewiththeunderstandingthatpartofitgoesintotheirownsavings—afirststeptowardslearningtobudget.•Tomaketheirsavingsvisibleandreal,havethembuildupsavingsinapiggybank.Thenhelpthemopentheirownbanksavingsaccount,andhavethemmakedepositseachmonth.•Usetheirmonthlystatements,ortherecordintheirsavingspassbooks,toshowthemhowtheirmoneyismultiplying.•Foreverydollaryourchildrenearn,encouragethemtospend25centsonwhattheywantorneednow,put25centsawayforabigger-itempurchaselaterandsaveorinvesttherest.(That'sa50%savingsrate!)•Makesavingsandinvestingfun.Giveyourchildrenplaymoneyto"invest"instockstheycantrackinlocalnewspapers.Ifthestocksgoup,paytheminmoreplaymoney;ifthestocksdecline,theypayyou.PartIIISafeInvestingImaginethatyouhavewonalargesumofmoneyinacontest.Someofityoudecidetospend,butyoualsowanttoinvestapartforyourfinancialfutureandretirement.Whatwouldbethebestwaytoinvestyourmoneyforthesetimeperiods:sixmonths,twoyears,10years,15years,and30years?A.Listentoanewsreportaboutsafeinvestingandanswerthequestions.1.Whatisthefirstguidelinetosmartinvesting?A.Developingasavingsplan.B.Settingupabankaccount.C.Settingclearinvestinggoals.2.Whatisa"diversifiedportfolio"ofinvestmentsaccordingtoMr.Boros?A.Awideselectionofinvestments.B.Alimitedrangeofgrowthstocks.C.Agroupoflowriskbondsandsecurities.3.WhichkindofinvestmentwasNOTmentionedbyMr.Boros?A.Mutualfunds.B.Bonds.C.Certificateofdeposits.4.Whatisthethirdguidelinetosmartinvesting?A.InvestingintheNewYorkStockExchange.B.Developingapracticalattitudetowardsgains.C.Savingatleast11%ofearningsayear.5.Peopleshouldinvestlongtermbecause:A.Themarkethasbothupanddownyears.B.Youcanearnbiggerguaranteedreturns.C.30%returnscanbeachievedwiththerightstocks.Reference1-5CACBAAudioscriptHi,I’mGeorgeBoros.Haveyoualwayswantedtoinvest,butdidn’tknowwheretogetstarted?We’reheretodaytopresentyouwiththreebasicguidelinestosmartinvesting,foryourfuture. Numberoneistohavecleargoals.Decidehowmanyyearsyouwillinvestfor,andwhatyourneedswillbeinthefuture. Numbertwoistounderstandtherangeofpossibilities.You’llwantadiversifiedportfolio:onewithamixofstocks,mutualfunds,bonds,andcash.It’sajungleoutthere.Eachoftheseproductshasdifferentrisksassociatedwiththemandalsodifferentpotentialrewards.Understandthembeforeyoubuy,sotherewon’tbeanybigsurpriseslater. Finally,numberthreeistohaverealisticexpectations.AsourfriendLeonardodaVincisaidintheyear1500:“Hewhowishestoberichinadaywillbehangedinayear.” Overthepastseveralyears,NewYorkstockshaveaveraged30%annualreturns,butdon’tcountonthiscontinuing.Whileit’struethatsincetheyear1900,stockshaveaveragedan11%annualreturn,it’saroller-coasterridewithmanyminusyearsaswell,soyouhavetostayinforthelongterm—youhavetoweatherthestorm—andnotbetoogreedy.Well,let’sgetstartedandhappyhunting!B.Listentoamini-talkaboutsomeconceptsofinvesting.Completethechart.allowance:giftsservices:sellinggoodsreasons:stayaheadofinflationincreaseofpricesachievefinancialgoalsashort-termgoalsb.long-termgoalsthedownside:theriskoflosingmoneyAudioscriptInvestingisawaytomakemoneywithyourmoney.First,youhavetoearnmoney.Asakid,yougetmoneyfromallowance,gifts,services,orfromsellinggoodssuchaslemonade.Trytosavesome,ifnotallofthismoney.Thenextstepistomakeyourmoneygrowthroughinvesting.Therearetwomainreasonswhyyoushouldinvest.Thefirstistostayaheadofinflationandthesecondistoachievefinancialgoals.Inflationcausestheincreaseofprices.WhenaBigMacgoesupfrom$1.20to$1.50orwhengasgoesupfrom$1.30to$1.70agallon,wesaythatisinflation.Youneedtomakemoremoneyjusttokeepupwiththerisingcostofliving.Financialgoalscanbeseparatedintotwotypes:short-termgoalsandlong-termgoals.Thefirstreferstothethingsthatyouneedorwantnoworwithintheyear,suchasabike,acomputer,oravideogame.Generally,ittakeslessmoneytoreachtheseshort-termgoals.However,long-termgoalsareexpensiveandrequiresomeplanning.Theyarethingsyouneedorwantinafewyearsormore,forexample,goingtocollege,buyingahouse,andevenstartingabusiness.Investingislike"planting"money.Asmallamountofmoneyinvestedwilloftengrowtoalargersumovertime.You'veheardthephrase,"Timeismoney."Withinvesting,timealsomakesmoney.Althoughinvestingcanmakemoneywithmoney,thedownsideofinvestingisthatthereisariskoflosingyourmoney.Thekeytoinvestingistominimizetheriskandtomaximizethefinancialreward.PartIV.Moreaboutthetopic:HowmuchMoneyisThereinYourSavingAccount?I.O.U.S.A.isanAmericandocumentaryfilmthatfocusesontheshapeandimpactoftheUnitedStates'nationaldebt.ThefilmdescribessystematicallyfourseriousdeficitsshapingtheU.S.economy:budget,savings,trade,andleadership.InthissectionyouwilllearnsomethingaboutthepersonalsavingssituationintheUnitedStates.Afterlistening,answerthefollowingquestions.1.Whatisthetitleofthebookthemanistryingtopromote?Don'tBuyStuffYouCannotAfford.2.Amongalltheinterviewees,howmuchisthebiggestamountofmoneyintheirsavingsaccount?Aboutonethousanddollars.3.WhatarethethreetypesofpeopleinU.S.?a.Thosewhosavedandinvest;b.Thosewhocouldeasilysavemorebutchoosenotto:c.Thoseforwhomsavingsisdifficult.4.AccordingtoAlanGreenspan,whatistheultimategoaloftheFederalReserve?Togetahighlevelofrealmaterialwell-beingbysettingaplatformofstability.5.Accordingtothereporter,whatwilltoomucheasycreditfortoolongresultin?Afalsesenseofwealth.Audioscript:Man1:DidyouknowmillionsofAmericanslivewithadebttheycannotcontrol?That'swhyIdevelopedthisuniquenewprogramformanagingyourdebt.It'scalledDon'tBuyStuffYouCannotAfford.Wife:Wow,letmeseethat.Ifyoudon'thaveanymoney,youshouldnotbuyanything.Hmm,soundsinteresting!Husband:Soundsconfusing!Wife:Idon'tknow,honey.Thismakesalotofsense.There'sawholesectionhere.Howtobuyexpensivethingsusingmoneyyousaved.Husband:Givemethat.Andwherewouldyougetthis"saved"money?Interviewer:Howmuchmoneydoyouguyshaveinyoursavingsaccount?Boy1:Uh,coupleofhundredbucks.Boy2:Uh...aboutathousand,maybe.Girl1:Areyoutalkingaboutmoneywise?Girl2:Iendupusingmostmoneyinmysavingsaccount,soitdoesn'tlooklikewhereIcanusethissavingsaccount.I'mnotactuallysavinganything.I'mjuststoringathing.Girl3:Ithinkmostpeoplecansaythattheylivepaychecktopaycheck.Agoodmajorityofusdo.Narrator:Therearethreetypesofpeopleinourcountry.Thosewhosaveandinvest.Thosewhocouldeasilysavemorehutchoosenotto.Andthoseforwhomsavingsisverydifficult.IfFederalReservepolicycreatesstrongeconomicgrowthandkeepsinflationlow,everyonecanbenefit.However,ifinflationrises,peoplewhoarelesswelloffwillsuffermore.AlanGreenspan:TheFederalReserveseekssolelytogetashighalevelofrealmaterialwell-beingaswecanbysettingaplatformofstability.Wecannotpickandchooseamongstvariousareasofthepopulationbecausewejusthavenomeansofdoingthat.Iffiscalpolicyis(has)lacks,orsavingsareexceptionallylow,thereisnothingmonetarypolicyoranycentralbankcandoaboutthat.Wecannotliveinthepresentonly.Humanbeingscannotsurviveunlesstheycreateprovisionforthefuture.Narrator:Americansmuststarttosaveagain.Andtheyneedtoinvestthosesavingstohelpcreateabetterfutureforthemselves,theirfamilies,andourcountry.Atthesametime,Americansneedtoknowthatthemoneythattheyaresavingwillholditsvalue.Toomucheasycreditfortoolongcancreateafalsesenseofwealth.NooneplaysamoreimportantroleinallofthisthantheFederalReserve.Husband:IthinkIgotit.IbuysomethingIwant,andthenhopethatIcanpayforit.Right?Man:No.Youmakesureyouhavemoney,thenyoubuyit.Husband:Oh!Thenyoubuyit!Butshouldn’tyoubuyitbeforeyouhavethemoney?Man:No.Wife:Whynot?Man:It’sinthebook.It’sonlyonepagelong.Theadviceispriceless,andthebookisfree.Wife:Well,Ilikethesoundofthat.Husband:Yeah.Wecanputitonourcreditcard.Narrator:So,getoutofdebtnow.WriteforyourfreecopyofDon’tBuyStuffYouCannotAfford.Ifyouordernow,you’llalsoreceiveSeriously,IfYouDon’tHavetheMoney,Don’tBuyIt.PartVDoyouknow?Therearefewofuswhohaveneverdreamedaboutwhatwewoulddoifwewonalotteryticketworthmillionsofdollars.Yetinthemeanwhile,wealsohearlotsofstoriesoflotterywinnersgonebad.Accordingtoseveralacademicstudies,suddenwealthonlyexaggeratesyourcurrentsituation.Ifyou'reunhappy,badwithmoneyandsurroundedbypeopleyoudon'ttrust,moneywillmakethoseproblemsworse.Ifyou'refulfilled,carefulwithmoneyandenjoyalifeofstrongrelationships,thelotterycouldmakethosestrengthsbetter.A.ListentoanewsreportaboutaHungarianwinningalotteryticket.Beforelistening,answerthepre-listeningquestions.Afterlistening,answerthepost-listeningquestion.Makeacomparisonbetweentheanswers.Pre-listeningquestions:1.Haveyoueverdreamedofwinningalotteryticket?Ifyouwonalotteryticketworthmillionsofdollars,whatwouldyoudo?2.Haveyoueverheardofanyonewinningalotteryticket?Whatdidtheydowiththemoney?Post-listeningquestion:WhatdidtheHungariandowiththemoneyafterhewonthelotteryticket?a.donatealargesumtoahomelesshostel:b.boughtthefirstcarinhislife:c.boughtanewhouse:d.enjoylife.Audioscript:AnunemployedandhomelessHungarianmanhasbecomeoneofthecountry'sbiggestlotterywinners.Hespentadollarontheticketandwonmorethan2.5milliondollars.NickThorpeinBudapesthasbeentellingusmore.ThisactuallyhappenedinSeptember,whichwashisbigwin.Itonlyjustturnedoutrecentlywhenhedonatedalargesumtothehomelesshostelwherehespentoffandonalotoftimeoverthelastyears.He'snowdonatedsomeofthemoneytothem.Heboughtthefirstcarinhislife.He'sboughtanewhousewhereheandhiswifeandchildrenwillnowliveandhe'salsosaying,thoughheisnotgoingtoletthewealthgotohishead.Hejustwantstostartenjoyinglifeatthetenderageof55,hesays.B.Nowlistentoanothernewsreportaboutalotteryticket.Decidewhetherthestatementsafterthereportaretrueorfalse.PutTorFinthebrackets.1.(F)4.(T)2.(F)5.(F)3.(F)6.(T)Audioscript:Ifyoufoundalotteryticketworthmillionsofdollars,whatwouldyoudo?Well,amanintheSpanishtownofLaCorunafacedthatverydilemmaandresolveditbyhandinginthemissingticketwhichwasworthmorethan6milliondollars.ManuelReijaGonzaleztoldtheBBCwhy.ManuelReijaGonzalez:WhatIdidwas,Ireturnedtheticket,becauseIreallyfeltitwasmydutytodoit.Nothingelse.IneverforamomentthoughtaboutkeepingitbecauseIwantedtobeabletosleepwellatnightwithaclearconscience,becauseherewassomebodywhohadaproblemforgettinghisticketandIputmyselfinhisshoes,andIthoughtthebestdiingtodowasjusttoreturntheticket.Andthehuntisnowonforthemissinglotterywinner.LouisaFidistheDeputyMayorofLaCoruna.Louisa:It'squiteaninitialexperience...It'sthatwe'retryingtofindsomebodyinordertogivehimorher4.7millionEuros.OK,wehavetwoyearstofindtherightfulowner.Inthefirstfewhourssincetheannouncementwasmade,the6persons,thesepeople,appearedtoclaimtheyweretherightfulownersandwehavetocheckwhichtimetheticketwasbought,howmuchmoneythatpersonspentonit,ifitwasjustasinglebetoramultipleone.Letusknowifthepersonwhoclaimstobetheowneristherightfulone.Andifheisn't,andtheticketstillisn'tclaimedaftertwoyears,themoneygoestothemanwhofoundit.Statements:1.Thelotteryticketisworth4.7milliondollars.2.ManuelReijaGonzalezthoughtforacoupleofdaysbeforehedecidedtoreturnthelotteryticket.3.ManuelReijaGonzalezcouldn'tsleepwellatnightbecauseofthelotteryticket.4.Thelotteryticketwaspubliclyannouncedinordertofindtheowner.5.Noonecametoclaimthelotteryticket.6.Ifthelotteryticketisnotclaimedaftertwoyears,themoneygoestoManuelReijaGonzalez.