What do you think about money?
Money can do a lot of things, both good and bad. It gives us freedom and a wide variety of choices. With money, you have the confidence and motivation to work harder for a better life. You can decide where and how you want to live when you have a good income. On the flip side, when you don’t have much money, your choices are limited. However, everything comes with a price. Having lots of money doesn’t mean you won’t run into problems. Most people struggle to strike a balance between earning and enjoying money, so they work day and night, believing they’ll be happier if they have lots of money. Unfortunately, for many, that time never comes, and they end up unhappy and dissatisfied.
Could human beings live without money?
It’s true that money isn’t the most important thing in the world, but it’s irreplaceable in our lives. If the world were a completely free place with no expenses, and people could own anything they wanted without money, no one would go to work. There would be no motivation, and people would work unproductively. Money stimulates people to overcome obstacles so they can enjoy their achievements to the fullest. Additionally, people with money have a voice in society, and it’s a strong encouragement for anyone.
In your opinion, why do many people derive pleasure from spending money?
Spending money is definitely one of the most satisfying feelings ever. People can buy things they’ve long waited for to please themselves. Buying something new can make their day and motivate them to work harder. The money spent isn’t necessarily on oneself but also on loved ones. It makes us feel good, so we’re likely to spend more money the next time.
Who do you think saves more money, men or women?
Well, it’s hard to say. Men’s biggest risk is their egos. They need to brag about their possessions and how much money they’ve earned, so they end up spending more. Women tend to save money and spend it only when they really need to. However, there are exceptions when women manage money worse than men. That’s why there’s no strong proof that men or women save more money.
Which do you think is better for the economy of a country or area, people saving money or people spending money?
It’s a tricky question. For any economy, saving is entwined with spending. When people buy things, they contribute money to the stores, which in turn pay salaries. The government also benefits from taxes. If people save money, only the banks benefit as they can invest or set up new businesses. An ideal economy is when saving and spending are balanced. It’s a rule for any economy in the world.
Do you think the government should let people know how it spends money?
Well, actually, I don’t really care about this issue. I think the government has its reasons for not publicizing everything. It can be state secrets that the authorities want to keep private. However, if the government could go public with the amount of money it spends, it would gain trust from the public and assure them that their money is invested properly.
Young People vs. Money
How can (or how do) young people learn to manage their financial affairs?
From my point of view, young people should learn from their parents, who have lots of experience with spending money. Parents can give sound advice on how to keep an eye on personal expenses. The young should plan short-term and long-term financial goals and review them from time to time to manage personal finance well. They need to ensure their budgets cover their savings in case of any unforeseen emergency.
Do you think it’s easy for young people to save money?
I think it’s all about motivation. When people have specific goals, they’ll find saving money easier. For instance, lots of youngsters are working their way through university by doing part-time jobs. They don’t want to depend on their parents and want to lessen the burden on their families. They can save a small sum of money every month. Once young people develop that habit, they can have considerable savings for their future.
Do young people nowadays believe in saving money?
Well, I don’t really know. It depends on their outlook, I guess. Saving money is a good idea in case undesirable problems arise. Developing the discipline to do it over a long period is what most people find difficult. That’s why not many young people keep track of their monthly expenses.
Kids and Money
Do you think parents should give pocket money to kids?
I do agree with that. Giving pocket money to children helps them start learning about money management. When children get pocket money, they have to make choices about spending or saving it. If they save up, they learn about waiting for things they want. Otherwise, kids who choose to spend are likely to use up all the money. After a few months, they’ll know how to spend within their budget. Paying children to do chores also makes them more hard-working. Money doesn’t grow on trees, so giving pocket money will teach kids to appreciate it.
Do parents in your country think it’s important for their children to save money?
Yes, they do. They always encourage kids to live within their means. They believe if children save money, they will appreciate it more and use it wisely. When they set aside money, they prepare better for the future. They may think saving isn’t necessary now since they are still young and lack experience. Once they grow up, they’ll understand that it makes good sense.
Why do young people tend to waste money?
Well, the allure of extravagance often beckons the young crowd. It's not merely about spending but an intrinsic part of the youthful experience – a rite of passage into adulthood. The influx of a paycheck seems like a golden ticket to indulge in the thrill of the moment, embracing the latest tech gadgets, trendy fashion, and the mantra of "you only live once."
What kinds of things do people like to buy in your country?
In my country, the shopping carts are diverse, reflecting a blend of practicality and indulgence. The latest tech gadgets, fashion trends that define individuality, and the ever-popular pursuit of culinary delights dominate the shopping landscape. It's a medley of the functional and the indulgent, a testament to varied preferences.
How do people become rich?
The journey to wealth resembles a multifaceted puzzle, demanding a concoction of hard work, strategic decision-making, and a sprinkling of good fortune. Negotiating this financial maze involves making astute choices, seizing opportunities, and cultivating resilience. It's a complex narrative where success is often forged through a combination of ambition, dedication, and navigating the unpredictable twists of fate.
Why do people often want more money, no matter how much they have got?
The insatiable appetite for wealth is akin to an ongoing odyssey. Money, like a magnetic force, opens doors to opportunities, security, and an enhanced lifestyle. The desire for more isn't just avarice; it's an intrinsic pursuit of an ever-improving quality of life, revealing the paradoxical nature of wealth as both a means and an end.
What are some reasons for people being poor? Can poverty be avoided?
Poverty, a complex tapestry woven from threads of limited education, scarce job opportunities, and unforeseen misfortunes, is a challenge rooted in systemic issues. Mitigating poverty involves addressing its multifaceted causes through investments in education, creating job opportunities, and establishing safety nets. While complete avoidance may be elusive, proactive measures can certainly loosen the grip of poverty.
Why are poor people in many cases more generous than rich people?
The generosity of those grappling with limited means often stems from an innate understanding of the struggles of others. Having experienced hardships, empathy becomes a second nature, prompting acts of kindness and a willingness to share whatever little they possess. In the midst of scarcity, a spirit of generosity emerges as a remarkable silver lining.
Do you think that riches can have a bad effect on a person? How?
Riches, while desirable, can be a double-edged sword. The pursuit of wealth sometimes leads to a Pandora's box of temptations – lavish lifestyles, power dynamics, and even a sense of isolation. The acquisition of substantial wealth can alter priorities, potentially leading to a loss of connection with the simpler joys of life and a deviation from authentic values.
Do you think taxes in your country are too high/low?
The eternal debate over tax rates echoes diverse opinions. Some argue that it borders on exorbitant, hindering economic growth, while others believe it is a necessary contribution to maintain a well-functioning society. Striking the right balance – not too high to stifle progress, not too low to jeopardize essential services – remains an ongoing challenge.
If you were the ruler of your country, what would you do to change the taxation system?
In the realm of hypothetical governance, a fairer taxation system would be the objective. This might involve nuanced adjustments to the tax brackets, alleviating the burden on the middle class. The aim would be to ensure that everyone contributes, fostering a sense of shared responsibility without any segment feeling unduly burdened.
Should parents give a credit card to teenagers?
Navigating the waters of financial responsibility with teenagers involves a delicate balance. While introducing a credit card could impart valuable lessons, it also carries the potential for financial chaos. A phased approach, starting with a debit card as a financial training wheel, might provide a safer initiation into the complexities of managing credit.
How do you think the government uses all the taxes they collect?
The allocation of tax revenue is akin to a grand juggling act for the government. Ideally, taxes fund essential pillars of society – education, healthcare, infrastructure. However, the intricacies of budgetary decisions often remain a bit of a mystery, leaving citizens to ponder the nuances of how the financial pie is distributed.
Can a person be rich without having a lot of money or possessions? How?
Certainly! The concept of wealth can extend beyond material abundance. Riches, in a more profound sense, can be measured by experiences, meaningful relationships, and personal growth. One can be rich in love, knowledge, and contentment without accumulating a surplus of possessions. It's a paradigm shift, where the emphasis lies not just on what one has but on what one values and deems as treasures in life.
Vocabulary with Meanings
Price - The cost or consequence of something.
Run into problems - To encounter or face issues or difficulties.
Strike a balance - To find a satisfactory compromise between two extremes.
Day and night - Continuously, all the time.
Irreplaceable - Impossible to replace if lost or damaged.
Motivation - A reason or reasons for acting or behaving in a particular way.
Overcome obstacles - To successfully deal with or resolve challenges.
Please (oneself) - To satisfy or make oneself happy.
Make (someone's) day - To make someone very happy.
Ego - A person's sense of self-esteem or self-importance.
Brag - To talk boastfully.
Possessions - Things that someone owns.
Intertwined - Twisted together; closely connected.
Sum of money - A specific amount of money.
Publicize - To make something widely known.
State secrets - Confidential information related to national security.
Go public - To make information known to the public.
Unforeseen emergency - An unexpected situation requiring immediate action.
Work (one's) way through - To support oneself while working or studying.
Outlook - A person's point of view or general attitude to life.
Keep track of - To monitor or follow the progress of something.
Live within (one's) means - To spend no more money than one earns.
Makes good sense - To be a sensible or logical course of action.
Money doesn’t grow on trees - Money is not easily obtained; it requires effort to earn.
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