Transcription
[Music] Hello everyone and welcome back to Mr. English channel where learning English is easy and fun. I'm Emily.
>> Hello Emily and hello to all our wonderful listeners. It's so good to be here again.
>> It is. How are you doing today, Paul?
>> I'm feeling great, thank you. I had a very nice weekend. How about you?
>> I'm doing very well, thanks. I'm excited for our new episode today.
>> Me, too. You said we have a very useful topic for everyone. I'm curious.
>> Yes, it's a topic for everyone. Today we are going to talk about money.
>> Ah money. Yes. That is a very important topic. It's a part of life.
>> Exactly. We will learn some easy English words to talk about money and we will share some easy ways to save money and make a budget.
>> That sounds perfect. Many people think talking about money is difficult, but we can make it simple.
>> That's the plan. But wait, before we start, we have a small request for everyone listening.
>> Yes, we do. If you like our podcast, please take a moment to give us a like. It really helps us.
>> And please subscribe to Mr. English channel so you don't miss our new episodes. and share this with your friends who are learning English.
>> Yes, please do. Your support is amazing. Okay, Emily, I'm ready. Let's talk about money.
>> Let's do it. So, Paul, we all use money every day. We buy things.
>> Yes, we do. I buy food. I buy coffee in the morning. I buy a ticket for the bus. Me too. This is called spending money. When you give money to get something, you spend it.
>> Ah, so I spend money on coffee and I spend money on food. I understand.
>> Yes, exactly. Now, in life, we have needs and we have wants. These are two very important words when we talk about money.
>> Needs and wants. Hm. Okay. What is the difference, Emily?
>> Good question. A need is something you must have to live. It is very important.
>> Something I must have like what?
>> Like food. You need food. You need water. You need a home to live in. These are needs.
>> Ah, okay. That makes sense. I need food every day. So, food is a need.
>> Perfect. Now, a want is something you would like to have. It's nice, but you don't need it to live.
>> Something I would like to have, but I don't need it. Can you give me an example? Sure, a new video game is a want. Or maybe a very fancy, expensive jacket. It's nice, but you don't need it.
>> I see. So, my old jacket is fine. A new expensive jacket is a want.
>> Exactly. Or think about coffee. A simple coffee can be a daily habit, but maybe going to a very expensive cafe five times a day is a want.
>> Okay, you have a point. One coffee is okay. Maybe five expensive coffees is a want. I get it.
>> Yes. And understanding the difference between needs and wants is the first step to managing your money. Well,
>> that's a great start. Needs are important. Wants are extra. I will remember that. So, what's next?
>> Next, let's talk about a budget.
>> A budget. I hear this word a lot. It sounds a little serious. It can sound serious, but it's actually a very helpful friend. A budget is just a plan for your money.
>> A plan for my money. I like the sound of that. How does it work?
>> It's simple. A budget helps you see your money in and your money out.
>> Money in and money out. Okay. What is money in?
>> Money in is all the money you receive. For most people, this is their salary from their job.
>> Okay. So, the money I get from my work every month is my money in.
>> Yes, that's it. And money out is all the money you spend. So, my food, my coffee, my bus ticket, my rent for my apartment, this is all money out.
>> You got it. A budget is just a way to look at those two things together. Your money in and your money out.
>> So, how do I make a budget? Do I need a computer?
>> No, not at all. You can start with something very simple. A notebook and a pen. A notebook. I like that. It's easy.
>> It is. You can make two columns. On one side of the page, write money in. On the other side, write money out.
>> Okay. Money in and money out. I can do that.
>> Great. Under money in, you write your salary for the month.
>> Done. My salary is under money in. Now for the other side.
>> Yes, the money out side. For one month, try to write down everything you spend money on.
>> Everything really. Even a small chocolate bar.
>> Yes. Everything. Your rent, your bills, your food, your coffee, your chocolate bar. Everything.
>> Wow. That will be interesting. I think I might be surprised where my money goes.
>> Many people are. The small things can add up. That little coffee every day or that snack in the afternoon.
>> H. Yes. If I buy a coffee for $3 every day in one month, that is a lot of money.
>> Exactly. A budget is like a map. It shows you where your money is going. It doesn't tell you what to do. It just gives you information.
>> A map for my money. I love that idea, Emily. It feels less scary now.
>> Good. It's your tool to help you. So, after you have your budget for a month, you can look at it. You can see your needs and your wants. Ah, so I can see how much I spend on needs like food and rent and how much I spend on wants like going to the movies.
>> Yes, exactly. And this brings us to our next topic, saving money.
>> Saving money. This is the best part. I want to save money. How can my budget help me?
>> Your budget can show you where you can save. You look at your wants list. Okay, I'm looking at my list of wants. My five expensive coffees, [Laughter]
>> right? Maybe you can spend less on some wants. For example, instead of buying coffee every day, you can make coffee at home on some days.
>> Make coffee at home. That's a good idea. It is much cheaper.
>> It is. And you can save a little money every day. A little money saved every day becomes a lot of money over a month or a year.
>> Wow, that's true. It's a small change, but it has a big result. That's a great tip.
>> Here is another one. Cooking at home.
>> Cooking at home. I like to cook.
>> That's great because eating at restaurants or buying takeout food can be very expensive. It's a want.
>> Yes, it is. Sometimes after work, I'm tired and I just buy dinner, but it does cost more money.
>> It does. If you cook your meals at home, you can save a lot. You can even cook extra for lunch the next day.
>> That's a super idea. Cook once, eat twice, and I can save money on lunch, too.
>> See, easy ideas. It's about making small, smart choices.
>> I like these smart choices. What else, Emily? Do you have more tips?
>> I do. Another good idea is to make a shopping list before you go to the supermarket.
>> A shopping list. Why is that important?
>> When you have a list, you know exactly what you need to buy, your needs, like milk, bread, eggs.
>> Okay, I write my list. milk, bread, eggs.
>> Then at the store, you only buy the things on your list. You don't buy extra things that you want but don't need.
>> Like that big bag of cookies or that extra ice cream. I always see things I want.
>> Me, too. The supermarket is full of wants. A list helps you stay focused and spend less.
>> That is so true. A list is a plan for my shopping. A budget is a plan for my money. It's all about planning.
>> Yes, it is. Good job, Paul. Now, here is something to make saving more fun. Have a saving goal.
>> A saving goal? What do you mean?
>> A goal is something you want to achieve in the future. So, a saving goal is a reason to save money. Why do you want to save?
>> H a reason to save? Well, I would love to go on a vacation next year.
>> Perfect. A vacation is a fantastic saving goal. Or maybe you want to buy something special like a new bicycle or a new phone. Oh, I really want a new bicycle. My old one is very, very old.
>> There you go. A new bicycle is your saving goal.
>> So, how does a goal help me save?
>> It helps you stay motivated. When you are at a cafe, you can think, hm, do I buy this expensive cake or do I put this money away for my new bicycle?
>> Ah, that is powerful. I can see my bicycle in my mind. The cake is nice now, but the bicycle is a bigger dream.
>> Exactly. Your goal makes the choice easier. You are not just not spending money, you are saving for your bicycle. It feels positive.
>> That's a wonderful way to think about it. It's not about losing something now. It's about gaining something better later. My new bicycle.
>> Yes. And you can make it visual. You can put a picture of a bicycle on your wall or on your desk. Oh, I love that idea. So, I can see my goal every day. It reminds me why I am saving.
>> It does. It keeps your dream alive.
>> This is great. So, I have my budget. I am making small changes and I have a goal. What is a good way to physically save the money? Where do I put it?
>> A great question. You can open a separate bank account just for your savings. A savings account.
>> A savings account. So I have one account for spending and one for saving.
>> Yes. And every week or every month you can move a little money into your savings account.
>> So it's separate. I won't spend it by accident.
>> Correct. And here is a fun old-fashioned way to save small amounts of money.
>> Oh, I'm listening.
>> A piggy bank.
>> A piggy bank? Like the small pink pigs for children?
>> Yes, but it works for adults, too. It's for your coins.
>> My coins? The small money I get back when I buy something. The change.
>> Exactly. At the end of every day, you can take all the coins out of your pocket and put them in the piggy bank.
>> H. It's only a little bit of money each day. Does it really help?
>> You will be so surprised. You don't really miss the coins day by day. But after a few months or maybe a year, when you open the piggy bank, >> there will be a lot of money inside. Wow, that's like finding treasure.
>> It is. It's a very easy and satisfying way to save without thinking too much about it.
>> I'm going to get a piggy bank or maybe just a big jar. I'll call it my bicycle jar.
>> Bicycle jar. I love it. That's a perfect name. It connects to your goal.
>> Yes. So, let's review the steps. They are all very simple and use easy English words.
>> Great idea, Paul. Let's do a quick review. Okay. So, step one was to understand the difference between needs and wants.
>> Yes, needs are what you must have. Wants are what you would like to have.
>> Step two was to make a simple budget with a notebook. Money in and money out.
>> That's right. to see where your money goes.
>> Step three was to find small ways to save money, especially on wants, like making coffee at home or using a shopping list.
>> Perfect. Small changes make a big difference.
>> Step four, have a saving goal. something exciting to save for, like my new bicycle.
>> Yes, a goal keeps you motivated.
>> And step five, a fun extra tip is to use a piggy bank or a jar for your coins.
>> You remembered everything. Good job, Paul.
>> Thank you, Emily. Your tips are just so clear and easy to follow. I feel like I can really do this.
>> That's the most important thing. Anyone can do it. You just need to start.
>> And the English words are not so difficult. Money, spend, save, budget, cost, price, need, want, goal, coins.
>> See, you are already talking about money in English. It's fantastic.
>> This is great. I hope our listeners are feeling good about this, too.
>> I hope so, too. It's about being in control of your money. And that is a good feeling.
>> A very good feeling. And it starts with a simple plan.
>> Yes, just a simple plan in a simple notebook.
>> Wow, Emily, our time is flying by. I can't believe it's almost the end of the episode.
>> I know. Talking about money was fun. It really was and very helpful. Thank you for these great ideas. I'm starting my bicycle jar tonight.
>> That is wonderful to hear. We really hope these tips and English words help all of you at home.
>> Yes. Remember everyone, even a small step is a good start.
>> That's so true. And now before we go, we would love to hear from you.
>> We would please leave a comment for us. Let us know what is one tip you use to save money.
>> Or you can tell us about your saving goal. What are you saving for? Is it a trip, a new phone, a car?
>> We are excited to read your answers. Reading and writing in English is great practice, too.
>> It is. And please, if you enjoyed this episode, don't forget to subscribe to Mr. English Channel
>> and share it with your friends and family. Let's help everyone learn English and manage their money in a fun and easy way.
>> Thank you so much for listening today. It was a pleasure, Paul. The pleasure was all mine, Emily. Until next time, everyone. Goodbye.
>> Bye for now. See you in the next episode. [Music]