Unit 3 - Allowance Helps Children Learn About Money

1. Practice the reading and pronunciation of the following words

allowance	[ ә`lauәns ]	clothing	[ `kləυðiŋ ]
experience	[ әk`spiәriәns ]	budget	[`bΛdʒәt ]
financial	[ fai`næn∫(ә)l ]	sacrifice	[ `sækrifais ]
expected	[ ik`spektid ]	cause	[ kɔ:z ]
demand	[ di`ma:nd ]	receiving	[ ri`si:viŋ ]
should	[ ∫ud ]	learn	[ lә:n ]

2. Match the right and the left columns of the table

1.	allowance	a.	опыт
2.	experience	b.	временной период
3.	costly	c.	карманные деньги
4.	timing	d.	жертва
5.	if anything	e.	во всяком случае
6.	object	f.	предлагать услуги
7.	sacrifice	g.	дорогой, дорогостоящий
8.	offer services	h.	цель
9.	a savings account	i.	сложные проценты
10.	compound interest	j.	сберегательный счет

3. Read and translate the following verbs, divide them into two groups (regular / irregular), write down all three forms of the given irregular verbs.

To let, to learn, to give, to wish, to differ, to expect, to spend, to offer, to show, to save, to provide.

4. Listen to the text and fill in the gaps

another consideration – отдельный вопрос

the hard way – на собственном горьком опыте

a good cause – (зд.) хорошее, доброе дело

	Many children first learn 1 the value of money by receiving an allowance. The purpose is to let children learn from experience at an age when financial mistakes are not very costly. The amount of money that parents give to their children to spend as they wish differs 2 from family to family. Timing is another consideration. Some children get a weekly allowance. Others get a monthly allowance. In any case, parents should make clear what, if anything, the child is expected to pay for with the money.
	At first, young children may spend all of their allowance soon after they receive 3 it. If they do this, they will learn the hard way that spending must be done within a budget. Parents are usually advised not to offer more money until the next allowance. The object is to show young people that a budget demands 4 choices between spending and saving. Older children may be responsible enough to save money for larger costs, like clothing or electronics. Many people who have written on the subject of allowances say it is not a good idea to pay 5 your child for work around the home. These jobs are a normal part of family life.
	Paying children to do extra work around the house, however, can be useful. It can even provide 6 an understanding of how a business works. Allowances give children a chance to experience the three things they can do with money. They can share it in the form of gifts or giving to a good cause. They can spend it by buying 7 things they want. Or they can save it. Saving helps children understand that costly goals require sacrifice: you have to cut costs and plan for the future.
	Requiring children to save part of their allowance can also open the door to future saving and investing. Many banks offer 8 services to help children and teenagers learn about personal finance. A savings account is an excellent way to learn about the power of compound 9 interest. Compounding works by paying interest on interest. So, for example, one dollar invested at two percent interest for two years will earn two cents in the first year. The second year, the money will earn two percent of one dollar and two cents, and so on. That may not seem like 10 a lot. But over time it adds up.

5. Read and translate the text.

1. Find in the text the English equivalents of the following words and word combinations, learn them by heart.

	Ценность денег		Достаточно ответственный
	Узнавать впервые		Работа по дому
	Научиться из опыта		Полезный
	Количество денег		Шанс испытать
	В рамках бюджета		Требовать жертв
	Выбор между…		Вкладывать под два процента

7. Translate the following word combinations into English. Use the verbs from ex. 3.

Позвольте мне помочь вам. Я случайно узнал об этом. Он дает деньги каждую неделю. Как пожелаете. Эта модель отличается от стандарта. Они не ожидали роста цен. Давай потратим все деньги. Мы проведем время вместе. Мне предложили работу. Они сейчас показывают новые каталоги. Я накопил на поездку в Испанию. Вас обеспечат всем необходимым.

8. Find in the text the sentences with the following word combinations. Explain the peculiarities of translation paying attention to the grammar phenomena.

… are advised, …what the child is expected to pay for, …to spend as they wish, …spending must be done, … have to cut costs.

9. Read and learn the following words paying attention to the ways of word-building.

To use - useful - usefulness - useless - usage

To pay - payment - paid - payable

Account - to account for - accountant - accountable

Person - personal - personable - personality - personalize - personalization

10. Find in the text the sentences with gerund and translate them into Russian.

11. Answer the following questions

1) Why do people give allowance to their children.

2) Does the amount of money given to children differ from family to family?

3) How can children spend their allowances?

4) Parents are usually advised not to offer more money until the next allowance, aren’t they?

5) Is it useful to pay children for work around the house?

6) What does saving help children to understand?

12. Translate the following questions into English

1) Дети узнают ценность денег, получая карманные деньги?

2) Как дети узнают ценность денег?

3) Некоторые дети получают деньги еженедельно?

4) Как часто некоторые дети получают карманные деньги?

5) Могут ли маленькие дети потратить все карманные деньги очень быстро?

6) Почему маленькие дети могут потратить все деньги очень быстро?

7) Дают ли карманные деньги шанс поэкспериментировать?

8) Кому карманные деньги шанс поэкспериментировать?

9) Банки предлагают услуги подросткам?

10) Какие услуги банки предлагают подросткам?

13. Translate the following sentences into English. Use the words given in brackets.

Многие родители дают своим детям карманные деньги. Некоторые дети получают карманные деньги еженедельно, другие – ежемесячно. Карманные деньги помогают детям понять ценность денег. (parents; to give; some children; others; to get; to understand; value).

Маленькие дети часто тратят все свои карманные деньги очень быстро. Дети постарше могут накопить денег на одежду или электронику. В любом случае дети узнают, что траты должны делаться в рамках бюджета. Специалисты не советуют платить детям за работу по дому. Это естественная часть семейной жизни. (young children; often; to spend; very fast/ quickly/ rapidly; older children; to save for; anyway; must be done; within; experts; to advise; to pay for; around the house).

Многие банки предлагают услуги для подростков. Сберегательный счет – отличный способ узнать о процентах. (to offer; services; a saving account; an excellent way; to learn about; interest).