What are common monthly expenses for a student living on their own, including student or car loans? How about a family of four? Write a list of your expenses, figure out how much money you spend on each area, and what percentage of your income pays for each.

HELPFUL TIP: Don't spend more money than you earn and get into debt. It will follow you and become an unwelcomed friend. Following a budget will help you keep out of debt.

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II. Listening Exercises [Top]

Listen to the conversation by pressing the "Play Audio" button and answer the questions. Press the "Final Score" button to check your quiz.

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[ Other Audio Options: Play RealMedia | Play Window Media ]

1. To whom is the man speaking?
A. his friend
B. his sister
C. his mom

2. Which sentence would identify the man's current situation?
A. He has a lot of expenses including student loans.
B. He has a decent job, but he's looking for a new one.
C. He's in debt and is trying to borrow money.

3. How would you describe the man's apartment?
A. a small place with a nice view of the city
B. a spacious apartment that includes cable TV
C. an apartment downtown with free parking

4. Which sentence best describes the man's dining practices?
A. He tries to go out to eat every night.
B. He doesn't know how to cook very well.
C. He prefers to eat alone.

5. What does the woman suggest the man do at the end of the conversation?
A. He should be careful when using his credit cards.
B. He ought to get rid of his car to save money.
C. He should stop spending money on entertainment.

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Score =
Correct answers:

Listen to the conversation again as you read the Quiz Script.

III. Vocabulary Activities [Top]

Review the key vocabulary from the conversation:

[ Why do these? ]

• Multiple-Choice and Short-Answer Questions
• Mixed-Up Sentence
• Sentence and Vocabulary Matching
• Text Completion Quiz

IV. Read the Explanation of Answers.

IV. Post-Listening Exercises [Top]

Why would keeping a budget be important in managing your money? Do you know of a family member or friend who got into debt? Use the vocabulary and idioms in this conversation to discuss your own financial situation, with suggestions on how to avoid debt. Search for the top five ways to manage your money better.

V. Online Investigations - [ What's This? ] [Top]

Getting a loan can be a complex process in trying to figure out the terms of the agreement. Imagine that you need a loan to pay for a car or college tuition. Find a Web site that offers the type of loan you need, and analyze the information. What does the actual cost of the loan include?

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[ What's This? ]

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