Warm-up
In this lesson, your tutor will help you go over this topic: banking and money. First, go over the following vocabulary and expressions with your tutor. Read the word/expression and definition out loud, and your tutor will go over anything you do not understand. Practice creating a sentence or two to make sure you know how to use the word/expression properly.
Vocabulary/ Expressions
| savings account | (n) a bank account where people keep money in to save She has $1000 in her savings account. |
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| checking account | (n) a bank account from which you can take money by writing checks He has no money in his checking account. |
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| withdraw | (v) to take money out of a bank account We have to withdraw $200 from our savings account. |
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| deposit | (v) to put money in a bank account He wants to deposit $50 into his savings account. |
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| checkbook | (n) a book containing checks for use with a checking account She has 100 checks in her checkbook. |
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| check | (n) a printed bank form, used instead of money to buy or pay for things She wrote a check for $500 to pay her electric bill. |
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| bounce a check | (phrase) when a check cannot be paid by the bank because there’s not enough money in the checking account Some people feel bad when they bounce a check. |
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| loan | (n) money which is borrowed from a bank for things like a house, car, a business, etc. I have a four-year loan for my car. |
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| interest | (n) 1) money that is charged by a bank when you borrow money 2) money that you earn when keeping money in your account 1) The bank charges me 8% interest per month for my new car loan. 2) I earn 1% interest on the money I keep in my savings account. |
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| bank statement | (n) a printed or electronic record of the money put into and removed from a bank account My bank statement tells me how much money I have in my account. |
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Conversation
Use the following questions as a guideline to form an interesting conversation with your tutor. Feel free to diverge from these suggestions if anything interesting comes up.
- Do you like going to the bank? Why or why not?
- Should children have their own savings account? Why or why not?
- Have you ever had a loan? If yes, what for?
- Have you ever bounced a check? If yes, how did you feel about it?
- Do you read your bank statements? Why or why not?
- Do you still use checks to pay for things? Why or why not?
- Do you like to save money? Why or why not?
- Would you like to work at a bank? Why or why not?
- Do you use the ATM machine to deposit money into your bank accounts? Why or why not?
- Do you think online banking is safe? Why or why not?
Wrap-up
Go over any new expressions or vocabulary that you learned today.
Cambly Content 