General Listening Quiz

Listen to the recording budget planning and read along with the conversation. Review the key vocabulary and the sample sentences.

Ron: Uh, could I borrow a few bucks until payday? I’m a little strapped for cash.

Nancy: Uh, yeah, I guess, but I’m pinching pennies myself, and you still owe me $20 from last week. And mom and your friend Ron said that you borrowed money from them this past week. [Oh . . .] And how ARE things going anyway?

Ron: Well, not very well. To be honest, I’m really in a hole, and I can’t seem to make ends meet these days.

Nancy: What do you mean? I thought you landed a great job recently, so you must be loaded.

Ron: Well, I do have a job, but I’ve used my credit cards to pay off a lot of things recently, but now, I can’t seem to pay the money off.

Nancy: Uh, do you have a budget? I mean, how do you keep track of your income and expenses?

Ron: Well, when my money runs out, I come to you. Of course. [Great!] No, but I guess I should have some financial plan.

Nancy: Well, let’s see if I can help you. How much money do you spend on your apartment?

Ron: Uh, I pay $890 on rent for the studio apartment downtown . . . not including utilities and cable TV. But the place has an awesome view of the city.

Nancy: Uh, $890! Why are you paying through the nose for such a small place when you could find a cheaper one somewhere outside of the downtown area?

Ron: Yeah, I guess.

Nancy: Okay. How much money do you spend on food a month?

Ron: Hmmm. Well, I’m not really sure. I think I spend around $600. [$600?!] Well, I go out to eat at least four times a week, so the expenses add up. I just don’t enjoy eating alone, and I don’t have a knack for cooking like you do.

Nancy: Well, I can understand that, but perhaps you ought to buy some microwaveable meals you could just prepare at home.

Ron: Well, I guess I could.

Nancy: And entertainment?

Ron: Well, I spend a few dollars here and there on basketball and movie tickets, a concert or two, and ballroom dance lessons.

Nancy: Uh, exactly how much do you spend on all of these? Just a “few” dollars?

Ron: Well, oh . . . about $400 or so.

Nancy: Or so? No wonder you’re having money problems. You just can’t blow your money on things like that! And what about transportation?

Ron: Well, I commute to work every day in my new sports car, but I got a great deal, and my monthly payments are only $450 a month. Come outside and take a look. We can go for a spin!

Nancy: No, I’ve heard enough. You’ve got to curb your spending, or you’ll end up broke. I suggest you get rid of your credit cards, [Aww . . .] cut back on your entertainment expenses, and sell your car. [Huh?] Take public transportation from now on.

Ron: Sell my car?! I can’t date without a car. What am I gonna [going to] say? “Uh, could you meet me downtown at the bus stop at 7:00?” Come on!

Nancy: And you need to create a budget for yourself and stick to it, and start with paying off your bills, starting with me. You owe me $50 dollars.

Ron: Fifty dollars! Wait, I only borrowed $20 from you last week. How did you come up with $50?

Nancy: Financial consulting fees. My advice is at least worth $30!

• buck (noun): dollar
  – Could you load me a buck or two until tomorrow?
• be strapped for cash (idiom): have no money available
  – He has really been strapped for cash because he lost his job two weeks ago.
• pinch pennies (idiom): be careful with money
  – That young couple had to pinch pennies so they could live.
• in the hole (idiom): in debt
  – My brother has charged so many purchases to his credit cards that he’s in the hole.
• make ends meet (idiom): make enough money to live
  – When I was a student, I had to work three part-time jobs to make ends meet.
• land (verb): find
  – I need to land a good job where I can earn a lot of money.
• be loaded (adjective): having a lot of money
  – Don’t let him borrow money off you because, in reality, he’s loaded. His rich parents give him $2,500 in spending money a month!
• budget (noun): a financial plan of expenses and income
  – You should create a budget of your expenses.
• keep track of (idiom): keep a record of
  – Any business should keep track of its earnings.
• run out (phrasal verb): use up or exhaust
  – If you don’t keep a budget, you might run out of money before your next paycheck.
• utilities (noun): services provided by gas, power, and water companies
  – The rent for this apartment includes the cost of utilities.
• pay through the nose (idiom): pay an excessive amount of money
  – Car insurance is so expensive that you have to pay through the nose to get any type of coverage these days.
• knack (noun): a special way or ability of doing something
  – My mother has a real knack for saving money on her low salary.
• blow (verb): spend thoughtlessly or wastefully; throw away
  – People sometimes blow money on things that have no lasting value.
• commute (verb): travel back and forth between work and home
  – I commute by bus everyday.
• curb (verb): lessen or reduce
  – Unless you curb your spending, you’re going to run out of money before the week is over.