title

Custom Search

 

[ Correct English | Common Errors | Words Differentiation | Sample Letters | Glossary of Correct Usage | Common Sentences | Q & A ]

[ English Compositions | Movie Reviews | High School Vocab | Advertisements ]

Sponsored Links

<<Prev

Reading  Comprehension

Next>>

   
TOEFL Vocabulary
English Conversation
English Grammar
American Idioms
English Comprehension
English Summary
English News
Business Idioms
 
Read the passage carefully. Then choose the correct answer.
 
How much money will satisfy our desire for wealth? Where would we spend the money and how would we spend it? There are many ways to spend money and I am sure that at a certain point, we would feel that it would never be enough. The big question is can we spend money and at the same time save? The answer is yes we can but we need to take into account several factors.

First, we must plan our expenses. Parents draw up a family budget every month so that they will have some extra money saved for a rainy day. Planning means setting aside a fixed sum from the income to pay for utility bills, the house rent or loan, the car loan, food, children's allowances, school fees, medication or hospital bills, clothes, and entertainment. The balance is saving. Saving is important and children should be taught to save a part of their allowance from a young age. They should be taught to spend money on healthy food and drinks, stationery and not on video games and other unnecessary items. Different people have different plans for their money but everything depends on income and expenses.

Next, it is important to keep track of our money even if we do not earn much. Recording and updating expenses will keep us from spending unnecessarily. Students, for example, can keep a journal of their daily expenses on food, drinks and books while a housewife can similarly keep one to track her grocery shopping expenses. Both parties will then be able to keep tabs on their monthly expenses and at the end of the month, doing an analysis will reveal if there was unnecessary spending or the budget was successfully followed.

It is also important that we should spend according to our means. This is crucial if we do not want to end up with a lot of debt or turn into a shopaholic. It is good to spend moderately and buy only when items are needed. We should compare prices and opt for items when the best bargains are offered, perhaps during a sale. It is always prudent practice to be alert to price discounts and best offers before purchasing anything.

Further, there is nothing better than to save a penny a day that will help one on a rainy day. It is important to have savings because we may suddenly require money to pay a hospital bill or for some medication or respond to children's needs. We need to have spare cash for emergency situations and this will stop us from asking for money from relatives, friends or neighbours. In addition, we should also
start early and save for our retirement.

It is important that we educate ourselves and our children on how to handle money wisely. Parents are the best role models for their children to learn about moderate spending, budgeting and saving. They should be taught the value of money and should know how hard it is to earn a living. They should know what is important and what is not and how to differentiate from affordable, extravagant, luxurious and cheap.

In conclusion, our attitude towards money is important. We must be able to appreciate the value of money and adopt prudent spending habits if we are to enjoy spending money, and at the same time be smart enough to save.

     
    What do the following words or phrases refer to in the passage ?
  1. it ( paragraph I )
  2. They ( paragraph II )
  3. This ( paragraph IV )
  4. They ( paragraph VI )
     
    Using contextual clues, find a word with the same meaning as the following words from the passage.
  1. spend ( paragraph I )
  2. income ( paragraph II )
     
    Answer the questions below based on the passage.
  1. What is the topic sentence of paragraph II ?
  2. What is the main idea of paragraph III ?
  3. What does the writer mean by the words 'rainy day'  ?
  4. Why do we need to keep track of our money ?
  5. What does the writer mean by saying, 'we should spend according to our means', ( paragraph IV ) ?
  6. How can we educate children to handle money wisely ?
     
Sponsored Links
 
     
    Answers
     
1.   money
2.   children
3.   spend according to the money that we have
4.   children
     
1.   use
2   earning
     
1.   First, we must plan our expenses.
2   It is important to keep a record of our expenses, even though we do not earn much.
3.   The words refer to a difficult situation or an emergency when we need to pay urgently for something.
4.   To avoid excessive spending or unnecessary expenses and to keep within the planned budget.
5.   The writer is suggesting that we should not spend beyond our means.
6.   We can teach them the value of money and how hard it is to earn a living and also teach them to set priorities on what is important and what is not.
     
 
 
 
 

001    002    003    004    005    006    007    008    009    010    011    012    013    014    015    016    017    018    019    020    021    022    023    024    025    026    027    028    029    030    031    032    033    034    035    036    037    038    039    040    041    042    043    044    045    046    047    048    049    050    051    052    053    054    055    056    057    058    059    060    061    062    063    064    065    066    067    068    069    070    071    072    073    074    075    076    077    078    079    080    081    082    083    084    085    086    087    088    089    090    091    092    093    094    095    096    097    098    099    100    101    102    103    104    105    106    107    108    109    110    111    112    113    114    115    116    117    118    119    120    121    122    123    124    125    126    127    128    129    130    131    132    133    134    135    136    137    138    139    140    141    142    143    144    145    146    147    148    149    150    151    152    153    154    155    156    157    158    159    160    161    162    163    164    165    166    167    168    169    170    171    172    173    174    175    176    177    178    179    180    181    182    183    184    185    186    187    188    189    190    191    192    193    194    195    196    197    198    199    200    201    202    203    204

 

Sponsored Links

 

 
 
American Slang
English Proverbs
English Exercises
Common English mistakes
Ancient Chinese stories
Junior English essays
High School English essays
Lower Secondary English essays