General Listening Quiz

“Payday Loans”

Level: Topic: Speakers: Length:
intermediate payday loans man – woman 01:43

Pre-Listening Exercise

Is borrowing money for these things a good idea? Why or why not?

  1. a new car
  2. a used car
  3. a vacation
  4. school tuition
  5. new clothing
  6. a wedding
  7. cosmetic surgery
  8. a smartphone
  9. a house


nest egg” = extra money to save for the future
We need to have a nest egg in case the economy worsens.”

be broke” = be out of money
Brandon is broke, so I can’t buy any food this week.”

Listening Exercise

A. Listen to the recording and answer the questions.

The man needs a suitcase to _______.

Okay. Get this. Some friends and I are going to Hawaii next week, and my small bag won’t be big enough for all the souvenirs I plan to bring home. I’m going to get you some peanuts, too.

The man borrowed $500 for ______.

What? How can you afford that? You don’t have a job, you already have an outrageous car payment, and you still owe me $500 for that old car that didn’t last a week.

He got a payday loan because it was _____.

Ah, you don’t know anything. You can get a loan quickly without any hassle.

Interest rates for payday loans can be _______ personal loans from banks.

Exactly, because they know they can run you dry. [ No. ] I mean they might charge you over 300% interest compared to about 12 to 30% interest for a regular credit card.

The man is going to pay back the loan by ______.

Uh, well, I thought I’d sell my mountain bike or my comic book collection or you could give me the money.

Post-Listening Exercise

Listen to the conversation again. What advice can you give the man in this situation? Is he making a good choice? Are there other ways he could pay for his plans instead of taking out a payday loan? Explain.

Online Investigation

Use the Internet to learn more about the advantages and disadvantages of payday loans. Are such companies or services available in your country?