Advanced Season 1, Lesson 6: Economic Problems!

Hi everyone!

Today’s advanced lesson is a reading lesson.

Please start by reading the paragraph below.

These days, people all over the world are feeling the effects of the world’s financial crisis. Things started to get bad in  the late 2000′s, and to this day people are still struggling.

There are many signs of this economic downturn. For example, many people have lost their jobs, and new jobs aren’t being created as quickly as they used to be. Another sign of the problems is people have less disposable income than they used to, due to things like more expensive food, housing and transport; and a lack of pay increases in recent years.

How can we cope with this situation? There are many things that we can do.

-First of all, it’s important to get used to spending less money. We should look at where our money goes, and decide whether there are measures we can take to reduce our expenditure.
-Secondly, we should plan for a rainy day. Even if we have an income right now, there is no guarantee that our jobs will be safe in the future. Therefore, it is important to accumulate savings if at all possible. 
-Thirdly, try to have a back-up plan. If you do lose your job or home, what will you do? Do you have other sources of income or another place to live?

Above all, it’s important to stay positive and to remember that this is a natural cycle. Economies get better and worse as time goes by. Things will no doubt improve in the future.

Let’s look at some of the key words and expressions from this lesson:

-financial crisis: the period of time when the world’s economy has been bad
-economic downturn: A period of time when the economy gets worse
-disposable income: Part of your salary which you don’t spend on essential items like food or housing.
-expenditure: The money you spend.
-plan for a rainy day: Be prepared for a difficult tim in the future, such as not having enough money.
-accumulate: Gather/Build up.
-back-up plan: A plan for if things don’t go well.

Now, let’s read the paragraph again:

These days, people all over the world are feeling the effects of the world’s financial crisis. Things started to get bad in  the late 2000′s, and to this day people are still struggling.

There are many signs of this economic downturn. For example, many people have lost their jobs, and new jobs aren’t being created as quickly as they used to be. Another sign of the problems is people have less disposable income than they used to, due to things like more expensive food, housing and transport; and a lack of pay increases in recent years.

How can we cope with this situation? There are many things that we can do.

-First of all, it’s important to get used to spending less money. We should look at where our money goes, and decide whether there are measures we can take to reduce our expenditure
-Secondly, we should plan for a rainy day. Even if we have an income right now, there is no guarantee that our jobs will be safe in the future. Therefore, it is important to accumulate savings if at all possible. 
-Thirdly, try to have a back-up plan. If you do lose your job or home, what will you do? Do you have other sources of income or another place to live?

Above all, it’s important to stay positive and to remember that this is a natural cycle. Economies get better and worse as time goes by. Things will no doubt improve in the future.

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  3. Advanced Season 1, Lesson 3: Mind Map of India
  4. Advanced Season 1, Lesson 4: I Lost My Wallet!
  5. Advanced Season 1, Lesson 2: The British Weather!

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