Ep 56: Best English Conversation Practice | I never have enough money | Daily English Practice

Ep 56: Best English Conversation Practice | I never have enough money | Daily Practice

This conversation is perfect for beginner-level English learners who want to improve their financial vocabulary and learn essential money management tips. Whether you’re just starting your financial journey or looking for ways to better manage your money, this video is packed with insights and practical advice. Remember, practice makes perfect!

Budget: A budget is a plan that outlines your expected income and expenses over a certain period. It helps you control your spending, ensure you have enough money for essential expenses, and save for future goals.
Savings: Savings refer to the money you set aside from your income for future use. This can include money saved for emergencies, big purchases, or future investments.
Credit Card: A credit card is a payment card that allows you to borrow money up to a certain limit to make purchases. You must repay the borrowed amount later, usually with interest if not paid in full by the due date.
Debt: Debt is money that you owe to someone else, often due to borrowing. Common forms of debt include loans, credit card balances, and mortgages.
Interest Rate: The interest rate is the percentage of the loan amount that a lender charges as interest to the borrower, usually expressed as an annual percentage. It's also the rate at which your savings can grow if deposited in interest-bearing accounts.
Emergency Fund: An emergency fund is a savings account set aside specifically for unexpected expenses or financial emergencies, like medical bills or urgent repairs.
Investment: An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in value over time. Common types of investments include stocks, bonds, and real estate.
Risk: Risk in finance refers to the possibility of losing money on an investment or not achieving the expected returns. Higher risk often comes with the potential for higher rewards, and vice versa.
Diversification: Diversification is a risk management strategy that involves spreading investments across different financial instruments or sectors to reduce exposure to any single asset or risk.
Lifestyle Inflation: Lifestyle inflation refers to the tendency to increase spending when your income goes up, leading to little or no increase in savings or wealth. It’s when you upgrade your lifestyle as you earn more money.
Automate Savings: Automating savings involves setting up automatic transfers from your checking account to your savings account. This ensures that a portion of your income is saved regularly without having to think about it.
Long-Term Investment: Long-term investments are assets that you plan to hold for several years, typically to grow wealth over time. These are usually less liquid but have the potential for higher returns compared to short-term investments.
Short-Term Gains: Short-term gains refer to profits made from investments held for a short period, often less than a year. These gains are usually subject to higher taxes and can be more volatile.
Intentional Spending: Intentional spending means making deliberate choices about where your money goes, prioritizing expenses that align with your values and financial goals.
Non-Negotiable: In the context of budgeting, a non-negotiable expense is something that you have committed to paying, no matter what. It could be a fixed amount you set aside for savings or an essential bill.

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Money management, budgeting, saving tips, investing for beginners, financial literacy, English conversation practice, beginner English, financial advice, credit card management, lifestyle inflation, money tips, personal finance.