Banking

1. Warm up:

What is more convenient for you: paying with cash or using a debit card? Why?

What documents do you need when opening a bank account?

Do you know what interest is? How does it affect your savings or loans?

2. Vocabulary:

Match the words with their definitions:

1. Withdraw

2.Borrow

3.Exchange rate

4.Branch

5.Market

6.Debit card

7.Owe

8.Advice

a. the value of one country’s money compared to another.

b. A local office of a bank or company.

c. A place where people buy and sell things.

d. a plastic card used to buy things with money from your bank account.

e. to take money from someone or the bank that you will give back later

f. to need to give money back to someone.

g. to take money out of your bank account.

h. When someone tells you what they think you should do.

3. Phrases and Expressions

Match the expressions with their meanings:

1. How much does it cost?

2.I can't afford it.

3.It’s a good deal.

4.Pay by card

5.Pay in cash

6.Interest rate

7.Transfer money

8.Debt

a. Money you owe to someone.

b. The percentage extra you pay when borrowing money.

c. I don’t have enough money for it.

d. To send money from one account to another.

e.Use a debit or credit card to pay.

f.It's a good price for something.

g.Use coins or notes to pay.

h. Asking the price of something.

4. Reading

Mike Gives John Banking Advice

Mike is a financial advisor. He gives John some important advices about banking. Read the dialogue and pay attention to the financial terms used in the text:

Mike: Hi, John! I hear you have some questions about banking. How can I help you today?

John: Hi, Mike! Yes, I don’t really understand some things about banks. Can you explain them to me?

Mike: Of course! Let’s start with the basics. Do you have a bank account?

John: Yes, I have a savings account.

Mike: Great! That’s where you can save money. You can also withdraw money when you need it. Do you know how to do that?

John: Yes, I use my debit card at the ATM to get cash.

Mike: Perfect! Now, if you ever need to borrow money, the bank can give you a loan. But remember, you will owe money to the bank, and you must pay it back every month with interest.

John: Okay, so I borrow, and then I owe money back. Is there anything else I should know?

Mike: Yes, if you travel, you should check the exchange rate. This shows you how much your money is worth in another country.

John: Oh, that’s useful! And what if I have a problem with my bank?

Mike: You can always visit the bank branch near you. They can give you more advice and help with any issues.

John: Thanks, Mike! I feel like I understand it better now.

Mike: You’re welcome, John! If you have any more questions, just ask.

5. Comprehension Questions:

a.What kind of account does John have?

b.How does John withdraw money from his account?

c.What happens when John borrows money from the bank?

d.What does Mike say about the exchange rate?

e.Where can John go if he has a problem with his bank?

6. Complete the gaps using words from the text:

John can use his ______ to get cash at the ATM.

If you ______ money from the bank, you need to pay it back.

Mike gives John good ______ about banking.

The ______ rate shows how much money is worth in another country.

You can visit the bank ______ if you have a problem.

7. True or False

Read sentences aloud and respond with "True" or "False."

John has a checking account.

John uses a debit card to withdraw money.

The exchange rate shows how much money you owe the bank.

John is a bank teller.

John can go to the bank branch for advice.

8. Bank Account Simulation

Practice real-life scenarios involving bank accounts.

Activity: Set up a simple simulation where you open a bank account, make a withdrawal, ask for advice, or transfer money.

• Example: Task: "You have $500 in your account. You want to withdraw $100. What do you say to the bank clerk?

9. Create a Budget

Introduce the concept of budgeting to John.

Instructions:

1. Provide a simple monthly income (e.g., $500).

2. List common expenses (rent, groceries, savings, entertainment).

3. Ask John to create a budget using the income and expenses.

4. Discuss why budgeting is important.

10. Discussion Prompts

1. "What do you think is the best way to save money?"

2. "How do you feel about using credit cards?"

3. "What advice would you give someone who wants to open a bank account?"