Comments
pre-authorized withdrawals – попередньо-схвалені платником зняття грошей;
Automatic Teller Machine (ATM) – банкомат;
it pays to choose – варто обрати;
bonds, shares of stock – облігації, акції.
Vocabulary exercises
Exercise 1. Read, translate into Ukrainian in written form and learn by heart the definitions of the following economic terms and concepts.
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Exercise 2. Give Ukrainian equivalents for the following words and phrases from the text.
a habit of managing your money – _____________________________________
to take bachelor's or master's degree – __________________________________
a variety of options – ________________________________________________
to take a cash advance – _____________________________________________
to pay for the credit costs – ___________________________________________
a pleasant experience –_______________________________________________
to start any savings program –_________________________________________
limitations on withdrawals – __________________________________________
along with the principle – ____________________________________________
a monetary return – _________________________________________________
a pre-determined interest rate – ________________________________________
to result in a penalty – _______________________________________________
to limit the number of transactions – ____________________________________
to store your money – _______________________________________________
to overestimate your ability to repay – __________________________________
Exercise 3. Find in the text English equivalents for the following words and phrases from the text.
Ставати справою минулого – _______________________________________
вибори щодо витрачання – _________________________________________
користуватися новими покупками – _________________________________
переваги та недоліки – ____________________________________________
здійснювати повну оплату – ________________________________________
мати на увазі/ пам’ятати – _________________________________________
відкладати гроші – ____________________________________________
зберігати гроші в банку – __________________________________________
захищаючи ваші гроші від пожежі, крадіжки чи інших нещасть – ________ ____________________________________________________________________
надавати право виписувати чеки – __________________________________
ліквідне майно – _________________________________________________
покласти кошти/гроші в банк – _____________________________________
компанії інвестиційних фондів відкритого типу – ______________________
засоби управління коштами – _______________________________________
Exercise 4. Match the verbs/verbal phrases, prepositions and nouns/noun phrases as they occur together in the text. Translate the expressions they make into Ukrainian.
to have an impact |
for
in
by
on |
things online |
to keep |
lenders |
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to extend payment |
for a certain time period |
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to pay |
installment loans |
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to be offered |
mind |
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to be supplied |
government agencies |
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to refer to |
managing your financial affairs |
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to be kept |
our lives |
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to be withdrawn |
the purchase |
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to be insured |
for a full year |
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to invest |
retailers |
Exercise 5. Copy out from the texts the sentences containing the following words and word-combinations and translate these sentences into Ukrainian.
to make the dream of having money come true: ___________________________ _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
have more choices: _______________________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
until the money is paid back: _________________________________________ _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
to finance a purchase: _______________________________________________ _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
the risk involved: __________________________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
to keep a close watch on: _____________________________________________ _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
to make purchases: _________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
have different maturities: ____________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
managing your financial affairs: _______________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Exercise 6. Choose words and word-combinations that have the same or similar meaning to the words listed below. More than one is possible.
готівка (3) ________________________________________________________
дохідність (2) _____________________________________________________
здійснювати платіж (3) _____________________________________________
знімати з рахунку (4) ______________________________________________
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класти гроші в банк (3) _____________________________________________
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класти гроші на рахунок (3) _________________________________________
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користуватися (2) __________________________________________________
кредит/позика (4) __________________________________________________
мати рахунок у банку (3) ___________________________________________
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надавати позику (3) ________________________________________________
накопичувати відсоток (2) __________________________________________
платити готівкою (4) _______________________________________________
план заощаджень (2) _____________________________________________
споживча позика (2) _______________________________________________
to deposit money to an account |
to deposit money with a bank |
to make a withdrawal from a deposit |
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to pay with cash |
a consumption loan |
to accumulate interest |
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to keep an account at a bank |
a lend |
to place funds in a bank |
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a savings program |
to draw out of an account |
to effect a payment |
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to put money in a bank |
to place money on deposit |
a credit |
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to withdraw from an account |
to handle a payment |
to grant a loan |
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to supply a loan |
to enjoy |
money in hand |
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a debt |
to generate interest |
to take out from a deposit |
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to have a bank account |
a consumer loan |
to pay cash |
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to pay by cash |
a savings plan |
ready money |
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to make a payment |
to give a loan |
to keep an account with a bank |
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to put funds in an account |
to make use of |
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cash |
a loan |
a return |
to pay in cash |
a yield |
Exercise 7. Find words in the text synonymous in meaning to the following. Read the sentences containing them.
word |
synonym |
word |
synonym |
to bear in view |
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a financial condition |
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to choose |
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financial troubles |
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a pattern |
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a disadvantage |
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to draw interest |
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to repay a loan |
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additional |
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to make best use of |
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to put aside |
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it’s worth |
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an advantage |
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an alternative |
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Exercise 8. Replace the words or word combinations in bold time with their synonyms.
If you take control of your financial state, you will have peace of mind and your dream of having money for a rainy day will come true. 2. Your funds will be protected if you place them in an account insured by government. 3. A bank account will help you accumulate money, since it is often easier not to take out your savings if you have deposited your money with a bank. 4. Depository institution can grant you a consumer loan if you have a high credit rating. 5. The key to solving the financial difficulties is to manage your money effectively. 6. If you can't afford to pay for a desired thing by cash, don't use your credit card to pay for it. 7. Before buying something on credit it is necessary to keep in mind that credit requires the necessary monthly installments. 8. Savings plans are for money that should be used only for saving rather than for anything other. 9. Credit will cost you less in the long run if you can make extra payments of any amount or if you can pay off your loan sooner. 10. The relative ease of getting credit enables consumers to enjoy goods and services when money in hand is not available.
Exercise 9. Match each term in column A with its definition in column B.
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a business that keeps and lends money and provides other financial services. |
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an identification card that entitles the lawful owner to make purchases on credit. |
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a plastic card with which a customer may withdraw funds from his account using an automated teller machine. |
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A financial institution that obtains its funds mainly through deposits from the public. |
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the percentage of the principal paid by the borrower to the lender for the use of the lender's money. |
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the ease with whiсh savings or other liquid assets can be converted to cash. |
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the amount of interest or dividends stated as a percentage of the principal of an investment. |
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actual amount of interest earned that depends on the rate of return and the frequency of compounding. |
Exercise 10. At least one word or word-combination has been omitted from each of these sentences. Fill in the blanks from the list of missing words below and translate them into Ukrainian.
The easier it is ___________________ your money from an account, the lower the interest rate __________________ by the depository institution. – _______________
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2. If you want ____________________________________, place money in an account that pays _________________________________________. – __________ ________________________________________________________________________________________________________________________________________________________________________________________________________
3. The most important thing people should do not to face financial difficulties is to learn ________________________________________ actively. – _______________ _________________________________________________________________________________________________________________________________________________________________________________________________________
4. Liquidity refers to the ease with which your savings can _____________________ ____________. – ___________________________________________________ ____________________________________________________________________
5. Credit allows consumers ___________________________ they want immediately but ________________________ in the future. – __________________________ ________________________________________________________________________________________________________________________________________________________________
6. Charge accounts and credit cards, automobile loans, ________________________, and ___________________________ are some of the best known forms of credit. – ________________________________________________________________________________
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7. To choose ______________________________________ it’s worth comparing such features as safety, liquidity, interest rate, ________, and limitations on withdrawals. – _____________________________________________________
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8. To get the true cost of your loan, you need to add __________________________ to the original amount borrowed. – ______________________________________ ________________________________________________________________________________________________________________________________________________________________
9. Different financial institutions offer different kinds of accounts and _________________________. – ________________________________________ ________________________________________________________________________________
be converted into cash |
fees |
rate of return |
is charged |
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educational loans |
redpay a debt |
to withdraw |
to enjoy the things |
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a suitable bank account |
the highest interest rates |
the interest charges |
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to manage their money |
mortgage loans |
to earn a monetary return |
Exercise 11. Choose word combinations best suitable for the following sentences making sense.
Consumer loan is supplying money/paying in cash/taking a cash advance by financial institutions for the purpose of opening a savings account/repaying a time deposit/ buying consumer goods. 2. Buying items with equal monthly installments, credit cards, and charge accounts are forms of money-management tools/earning the yield/consumer credit. 3. The easier it is to deposit funds with the bank/ to withdraw your funds/to pay back, the greater the liquidity. 4. A checking account provides you with more spending options/check-writing privileges/the highest rate of return to withdraw funds deposited by you from the account. 5. If you want to set aside your extra cash you should deposit your money to an account that is drawn on demand/doesn’t generate interest/earns the greatest monetary return. 6. Demand deposit/debit card/sales credit enables buyers to purchase goods and services without paying off for them immediately and to extend payment over time. 7. Credit costs may vary in size from one lender to another as each lender is entitled to add to the principal/compound interest/ monthly installments different credit fees. 8. Credit card entitles its owner to buy on credit or take out the interest charged/obtain cash advances/ pay by checks.
Exercise 12. Translate the sentences into English using the active vocabulary.
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Exercise 13. Answer the following questions.
1. What should a person do to avoid financial troubles or make them a thing of the past? 2. What spending options do individuals have today? 3. 3. Why do people obtain credit? 4. What is the main advantage of credit? 5. What should people bear in view before buying on credit? 6. What is a credit card? 7. What do credit cards provide? 8. What drawbacks do they have? 9. What is difference between credit and debit cards? 10. Why do some people prefer to use debit cards?
11. What is a charge account? 12. Is there any charge for the use of a charge account? 13. What benefits does this account provide? 14. What is a consumer credit? 15. What does consumer credit provide? 16. What is the difference between loan credit and sales credit? 17. What is a consumer loan? 18. What are the best known types of consumer loans? 19. What is a principal? 20. Why may credit costs vary in size? 21. Why is savings considered one of the ways of good money management? 22. Why is it important for people to make savings? 23. What factors should be considered before staring any kind of savings program? 24. What does safety mean? 25. What is liquidity? 26. What is a rate of interest? 27. What is a rate of return? 28. What is a compound interest? 29. What does the yield depend on? 30. What accounts are offered by depository institutions? 31. What characteristics do checking accounts have? 32. Why do some people put their money in savings accounts? 33. What are the benefits and drawbacks of time deposits? 34. What do the certificates of deposit require from the depositors? 35. Why do financial institutions charge the highest interest rates on CDs? 36. What is the difference between money market accounts and money market funds accounts? 37. Why do people keep their money with a bank? 38. What steps should be taken to reach financial goals?