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How to Manage your Money

Basically, there are three ways to manage money: spend it, save it, or give it away. Let us first discuss how to spend money wisely.
If the great Recession has highlighted nothing else, it has shown the wisdom of living on a well - planned budget. What is a budget? Simply put, it is an estimate of how income will be used, whether by an individual, a family, a business, or a government.

How can you plan a budget? All family members, says the book Budgeting, by Denise Chambers, should be inc1uded in drawing up the plan so that all have a cornmitment to the family budget. Periodically, all should get together to see how their budget is working. Creating a successful budget can become a rewarding family
project as each one finds ways to live within the family's income.
To work out a budget, some people use a computer program. Others simply use a pencil and a sheet of paper, which they divide into two columns. One column is for income, and the other for expenditures. It is also important to include in the budget a monthly amount to coyer once a year expenses such as income tax and perhaps a vacation.
A time-tested method of budgeting is based on the use of envelopes or folders labeled "Food", "Rent", "Transportation", "Electricity" , "Medical Bills", and so forth. ln the past, people put cash for those expenses in the envelopes each month. Now many feel it is safer and easier to deposit money in a bank account and
withdraw it as needed.

Source: Adapted from Awake September 2011, p. 7


I- Vocabulary (4pts)

A- Find a noun from the following words. (2pts)

1- manage
2- plan

B- Find in the text the synonyms of the following words. (2pts)

1- authorities
2- focus



A- Write "True" or "False" in front of the number of each statement according to the text. (4pts)

1- There is only one way to manage money.
2- The budget is how debts will be used.
3- Two possibilities of elaborating a budget are mentioned in the text.
4- Cash was put in a deposit account in the past.

B- Read the text and answer the following questions. (6pts)

1- Give two elements to manage money. (2pts)
2- How can people work out a budget? (2pts)
3- What are two advantages of a bank account nowadays? (2pts)


A- Use the correct tense of the following verbs in brackets. (4pts)

1- If I (to be) rich, I (to invest) in South Africa. (1 pt)
2- Alima (to work) in a bank for ten years. (1 pt)
3- The bank manager (to go) to Accra last week. (1 pt)
4- The accountants (to do) the accounts now. (1 pt)

B- Choose the appropriate tag questions. (2pts)

1- The sales Manager left the company three months ago ______ ? (1 pt)
   (does he? did he?, won't he?, didn't he? )
2- The reply will come by Internet. _______? (1 pt)
   (won't it?, didn't it?, doesn't it, didn't it?)

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