Preliminary Exercises

Exercise 1. Translate and pronounce correctly these words. Give their Russian equivalents.

Therefore, flexibility, eliminate, goal, valuable, government, review, experience, utilities, fluctuating, charity, contribution, entertainment, magazine.

Exercise 2. Translate the following groups of words:

base-basic-basically; estimate-estimation-estimator; continue-continuation-continuous; value-valuable-valueless; help-helpful-helpless.

Exercise 2. Look at the headline of the text and choose in the list given below 10 words which you expect to come across while reading the text.

1) budget 6) student 11) save

2) cinema 7) money 12) recreation

3) shopping 8) luxuries 13) buy

4) financial 9) work 14) needs

5) food 10) pean 15) year

Exercise 3. Look through Text Б and identify the words meaning:

бюджет, планирование, студент,программа, документ, автомобиль, сба лансировать, секрет, транспорт, телефон, регулярный, практика, дис циплина, компромисс.

Exercise 4. Read Text В and get ready to answer the following questions.

1. What is a budget?

2. Does planning a budget give any advantages?

3. What budgets are considered to be complex?

4. What are the two steps in planning a budget?

5. What kind of expenses do people usually have?

These words will help you to understand the text:

1. long-range (adj) - долгосрочный, перспективный

2. flexibility (n) – гибкость

3. eliminate (v) - устранять

4. competency (n) – умение

5. estimate (v) – оценивать

6. estimate (n) – оценка

7. fixed expenses - постоянные расходы

8. income (n) – доход

9. make cuts - сокращать, урезывать

10. occur (v) – происходить

11. rent (n) - квартирная плата

12. overhead (n) - накладные расходы

13. grooming (n) - уход за внешним видом

14. aids (n) – средства

15. outlay (n) – расходы

Read and translate the text.

Text b. Budgey and Budgeting

1. A spending plan, or bedget is most important for managing your money. At the end of the week have you ever thought, “Just look at the money I have spent this week. How did I spend so much with so little show for it?” The secret of knowing where your money is spent is to develop a good budget. Perhaps a weekly plan could be used: but such planning offers no continuation from week to week. Therefore, long-range plans with some flexibility appear to be the best.

2. A family budget should be planned on a yearly basis. Your spending plan should be based on what you wish to do with the money you earn. Planning a budget has certain advantages to you whether you are a student or the head of a family.

1. It will force you to establish goals in using your money.

2. It will help you live on the money you earn.

3. It will help you eliminate wasteful habits of spending your money.

4. It can help you achieve long-range goals.

5. It can give you valuable experience and develop competency in money management.

3. Budgets can be simple or complex. The budget of the government is a document that requires the work of thousands of people and is a major document when printed. The budget of a student working past time can be written on a single sheet.

4. You budget may not look like a major automobile manufacturer’s budget, yet the two are basically the same. Two steps are involved in planning your budget.

1. First you must estimate how much money you will earn for the week, month, or year. In estimating your income, all sources should be included in your budget.

2. There you must estimate expenses for the year.

5. In reparing an estimate of income for the year, it is helpful to review income for the last year. A city manager will use figures from the last year’s budget and the present year’s sprnding to estimate the amount of money needed for the next year.

6. The second step in planning your budget is to determine how to use the money you earn. This may be difficult because you will be deciding what things you must buy, how much you will save, how mach you will spend on recreation, etc. This part of the planning can be ful as well as difficult. At this point you must set goals and make some compromises in spending money you will need to make cuts in different items to balance your expenses with income.

7. You will find you have certain fixed expenses-expenses which occur in every budget period. When you assume financial responsibility for yourself, these necessary expenses might include rent, transportation (perhaps car ownership), food, and living overhead (utilities, telephone and certain items such as laundry). Your fluctuating expenses are those expenses which occur from time to time. These will include clothing, grooming ang grooming aids (including hair styling and haircuts). Yyou may also include recreation (including books, newspapers and magazines), gifts and entertainment and contribution to charity. A wise spending plan might also include a regular plan of savings. Keeping income and outlay in a desired balance takes practice and self- discipline. Try to avoid unplanned “extras”.