Speaking Boost · B1 · Lesson 19 of 50
Speaking Boost B1 · Block 4: Money and Shopping

Can you wait for a second marshmallow?

A famous experiment asked children to wait for a second marshmallow. Learn what it really says about saving, plan a monthly budget of €1,200, and teach a young worker how to manage money.

1

Warm-up

5 min
1.1

Money habits

Answer and give a real example for each one.

  1. Are you a saver or a spender?
  2. Who taught you about money when you were a child?
  3. Did you get pocket money as a child? What did you do with it?
  4. What are you saving up for at the moment (or would like to)?
  5. Do you plan a monthly budget?
  6. Would you lend money to a friend?
2

Words and phrases

10 min
2.1

New words

For each word or phrase, say one true sentence about you or people you know.

2.2

Which word?

Choose the word or phrase that fits.

  1. I'm trying to for a holiday in Italy.
  2. He spent all his on a motorbike.
  3. We have a strict : €400 a month for food.
  4. Can I your car this weekend?
  5. My friend asked me to her €200.
  6. I still my parents money for my studies.
  7. They took out a from the bank to buy a flat.
  8. I spent everything on the concert. Now I'm .
2.3

borrow, lend, owe...

Choose the right word, then press Check answers.

  1. Can I
    your pen?
  2. Could you
    me €10?
  3. You still
    me money from last month!
  4. He has a lot of credit card
  5. It's hard to stick
    a budget.
  6. The bank charges 20%
    on this loan.
2.4

Useful phrases

Use each phrase to talk about your money habits.

  • I'm saving up for...Я відкладаю на...I'm saving up for a trip to Japan.
  • I'd never borrow money for...Я б ніколи не брав(-ла) у борг на...I'd never borrow money for a holiday.
  • I try to put aside... every month.Я намагаюся відкладати ... щомісяця.I try to put aside 10% every month.
  • My biggest expense is...Моя найбільша стаття витрат — це...My biggest expense is rent.
  • It's not worth getting into debt for...Не варто влазити в борги заради...It's not worth getting into debt for a wedding.
  • I don't have to..., but I should...Я не зобов'язаний(-а)..., але мені варто...I don't have to save, but I should.
  • Money doesn't grow on trees.Гроші на деревах не ростуть.My mum always said, "Money doesn't grow on trees."
  • By the end of the month, I'm usually...До кінця місяця я зазвичай...By the end of the month, I'm usually broke.
3

Read and react

8 min
3.1

The marshmallow test

Read the article. Hover over the dotted words for help.

Can you wait for a second marshmallow?

In the 1960s and 70s, psychologist Walter Mischel ran a famous experiment at Stanford University. Young children sat alone in a room with one marshmallow. They were told: you can eat it now, or, if you wait about fifteen minutes, you'll get two.

Some children ate the marshmallow immediately. Others covered their eyes, sang songs or played with their hair to resist it. Years later, researchers found that the children who had waited longer tended to do better at school and in other areas of life. The ability to wait for a bigger reward, called "delayed gratification", became famous.

But in 2018, a larger study tried to repeat the experiment with more children from different backgrounds. The link was much weaker. Family income and home environment explained a lot of the difference. Other research suggested that children from unstable homes may eat the marshmallow quickly for a very logical reason: in their experience, promises are not always kept.

What does this mean for our money? Saving is partly about self-control, but it is also about trust and security. It's much easier to save when you believe the future is predictable. That's why experts say small, automatic habits work better than willpower: a fixed amount moved to savings on payday, before you can see it.

In other words, don't rely on fighting the marshmallow every day. Just put it in another room.

3.2

True or false?

  1. In the experiment, children could get two marshmallows if they waited.
  2. All children ate the marshmallow immediately.
  3. A 2018 study found an even stronger link.
  4. Family income explained a lot of the difference in the newer study.
  5. Experts say automatic saving habits work better than willpower.
3.3

What do you think?

  1. Would you have eaten the marshmallow as a child? And now?
  2. What is your "marshmallow" — the thing you can't resist spending on?
  3. Why is it harder to save in uncertain times?
  4. Which automatic habits could help you save?
4

Grammar for speaking

10 min
4.1

Grammar for speaking

have to / need to

Something is necessary (rules, facts of life).

I have to pay rent on the 1st. You need to keep the receipt.

don't have to / don't need to / needn't

Something is NOT necessary (you can choose).

You don't have to pay now. You needn't bring cash.

should / shouldn't

Advice: a good or bad idea.

You should save 10% of your salary. You shouldn't borrow for holidays.

Careful: don't have to (not necessary) is very different from mustn't (not allowed): You don't have to pay in cash (card is fine too) vs You mustn't share your PIN (it's forbidden / dangerous). Past: had to / didn't have to.

4.2

Choose the right form

  1. I
    pay my rent by the 5th.
  2. You
    pay now — you can pay next month.
  3. You
    tell anyone your PIN code.
  4. She
    save for her studies.
  5. You
    have an emergency fund.
  6. Last year we
    borrow money from my parents.
  7. You
    pay — it's free.
  8. He
    work at weekends.
4.3

Fix the mistake

Each sentence has one mistake. Type the correct words.

  1. She have to pay back the loan. →
  2. You don't must bring money. →
  3. Yesterday I must go to the bank. →
  4. You should to save more. →
  5. He doesn't needs to borrow money. →
  6. You needn't to worry. →
4.4

Talk about it

Answer in detail. Use have to, don't have to, need to, should.

  1. What do you have to pay for every month? What don't you have to pay for?
  2. What should young people know about money before they leave home?
  3. What did you have to save up for when you were younger?
  4. What rules did you have to follow about money as a child?
  5. What should you never borrow money for?
  6. What do you need to change to save more?
5

The budget challenge

8 min
5.1

€1,200 a month

Imagine you live alone in a city and have €1,200 a month after tax. Plan your budget. You can't go over €1,200! Then explain your choices: what do you have to pay for, what don't you have to spend on, and what should you save?

Left from €1,2001200
Rent and bills
Food
Transport
Phone and internet
Clothes
Eating out and fun
Health and gym
Gifts
Savings
Learning (courses, books)

Useful language: The biggest part goes on... · I have to spend at least... on... · I don't need to spend much on... · I'd put aside... for an emergency fund.

5.2

Money dilemmas

Answer and explain your choice.

  1. A friend asks to borrow €500. They haven't paid you back before. What do you do?
  2. You get a €1,000 bonus. Do you save it, invest it or spend it?
  3. Your teenage child wants a €1,000 phone. What do you say?
  4. You can get a loan for your dream wedding. Do you take it?
6

Personal questions

10 min
6.1

Part I: Me

  1. Do you keep track of what you spend? How?
  2. What is your biggest monthly expense?
  3. Have you ever been broke? What did you do?
  4. Do you have an emergency fund?
  5. Have you ever lent money and not got it back?
  6. What is the best money advice you've ever received?
  7. Would you rather save for the future or enjoy money now?
  8. What do you never save money on?
6.2

Part II: Other people

  1. Should couples have one shared bank account or separate ones?
  2. At what age should children learn about money?
  3. Should schools teach financial skills?
  4. Is it OK to borrow money from parents as an adult?
  5. Why do some people with high salaries still end up in debt?
  6. Who is the most careful with money in your family?
6.3

Part III: Thinking deeper

  1. Is debt always bad?
  2. Should banks be allowed to give loans to young people easily?
  3. Is it better to rent or buy a home?
  4. Does saving money make people happier?
  5. Will we use cash in 20 years?
  6. Is it selfish to spend money on yourself instead of saving for your children?
7

Roleplay

10 min
7.1

The money coach

You

Financial coach

A young person (your teacher) has just got their first job and has no idea how to manage money. Teach them:
  • how to make a simple monthly budget
  • what they have to pay first and what they don't have to buy
  • why they need an emergency fund
  • what they should and shouldn't borrow money for
Speak for at least 3 minutes in total. Use have to, don't have to, need to and should.
Your teacher

Young worker

Asks naive questions, for example:
  1. Can't I just use my credit card?
  2. Do I really have to save if I'm young?
  3. My friends all have new phones. Shouldn't I?
  4. What's interest?
7.2

The loan request

You

Friend who needs money

You urgently need €1,000 and you're asking a friend (your teacher) for a loan. Convince them:
  • explain why you need the money
  • say when and how you will pay it back
  • offer something to make them feel safe
  • react politely if they hesitate
You do most of the talking. Use: I have to... · I'll pay you back by... · You don't have to worry because... · I completely understand if...
Your teacher

Friend

Is not sure and says things like:
  1. Last time it took you six months to pay back.
  2. Why don't you ask the bank?
  3. What happens if you can't pay?
  4. OK, but I need a plan.
8

Debate

7 min
8.1

Agree or disagree?

"It's better to enjoy money now than save it for the future."

Ideas for

Life is short and nobody knows the future. Experiences and memories are worth more than money in a bank. Prices go up, so savings lose value.

Ideas against

Emergencies happen — illness, job loss, war. Saving gives freedom and security. Old age is long. Small savings grow over time with interest.

Round 1: give your real opinion for 1–2 minutes. Round 2: defend the opposite side for 1 minute. Use: You don't have to... but you should... · I'd rather... · What if...? · From my own experience...

9

Homework

at home

Your homework score

Do all four exercises, then press Check all homework. Correct answers will appear next to your mistakes.

– / 30
H1

Complete with a word

save upsavingsbudgetborrowlendowedebtbroke
  1. I'm trying to for a new laptop.
  2. She used all her to start a business.
  3. We can't buy it. It's not in our .
  4. Can I your umbrella?
  5. Could you me some money until Friday?
  6. I still you €20 for the pizza.
  7. He's been in since university.
  8. I can't go out this weekend. I'm .
H2

Choose the correct form

  1. I pay the bills today.
  2. You come — it's optional.
  3. You give your card details to strangers.
  4. She save more.
  5. Last month I borrow money.
  6. You check your bank account regularly.
  7. You pay for the tickets. They're free.
  8. He pay rent — he lives with his parents.
H3

Correct or incorrect?

Decide if each sentence is grammatically correct.

  1. She has to pay back the loan.
  2. You don't must pay now.
  3. Yesterday I had to go to the bank.
  4. You should to save money.
  5. You mustn't tell anyone your password.
  6. He doesn't need to borrow money.
  7. Can you borrow me €10?
H4

Match the two halves

  1. I'm saving up
  2. I'd never borrow money
  3. I try to put aside
  4. My biggest expense
  5. It's not worth getting into debt
  6. I don't have to save,
  7. By the end of the month,

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© Yevheniia Kolesnykova, Academy of Languages. All rights reserved. No copying or reuse without written permission.