Short Texts from Oz © copyright Thorold May 1998 All Rights Reserved; published by The Plain & Fancy Language Company
go to end; go to Table of Contents / 48. Small Claims Tribunal (3) / 49. Banking (1) / 50. Banking [2]: Money / 51. Banking (3): Types of accounts / 52. Banking (4): Plastic Money
pattern:
text:[1] You cannot bring a lawyer to a Small Claims Tribunal hearing. [2] You must bring ALL of your evidence on the day of the hearing. [3] Prepare well! [4] Bring all documents such as contracts, letters, invoices, cheque book, receipts etc. [5] Bring any quotes for carrying out repair work. [6] Bring expert written opinions. [7] Bring diaries with records of telephone conversations, meetings, appointments etc. [8] Bring any photographs or VHS videos that will help the Tribunal to understand the problem. [9] You MUST obtain written quotes for unfinished or faulty work, or the cost of replacing lost or damaged goods. [10] You must bring any witnesses who can speak on your behalf. [11] You can ask the Tribunal to arrange for an interpreter. [12] Friends or relatives are not allowed to interpret.
response:
1. Who can represent you at a Small Claims Tribunal hearing?
2. When is all of your evidence needed?
3. What are some documents you might need at the hearing?
4. Finish this sentence: Bring any quotes for ....
5. What do you think an expert written opinion is?
6. Make a question using these words: what / diary information / needed
7 . When might a VHS video be useful to the Tribunal?
8. What do you have to obtain written quotes for?
9. Who has to organize to bring witnesses?
10. Why won't the Tribunal let friends or relatives interpret for you?*
interpreters:
* The Tribunal cannot be sure that friends or relatives will be fair or competent.
Keywords
[1] lawyer; [2] evidence; [3] prepare; [4] documents; [5] quotes; [6] experts; [7] diaries; [8] photographs; [9] written; [10] witnesses; [11] tribunal; [12] interpret
pattern:
text:
[1] Banks make a profit from managing money. [2] You lend money to the bank when you make a deposit. [3] The bank pays you interest for the use of your money. [4] Interest is a form of rent for money. [5] If you borrow money from the bank, then you must pay interest. [6] The bank lends at a higher interest than it borrows. [7] the percentage difference between lending and borrowing is called the bank's margin. [8] The bank's margin is always higher than inflation. [9] Inflation is the fall in the value of money over time. [10] The bank charges fees for its services, such as account keeping, safety deposits, organizing mortgages and so on. [11] Both State and Federal Governments tax each banking transaction. [12] The Government also taxes any interest that you earn. [13] It is usually much more profitable to invest large amounts of money in bonds or safe shares than keep it in a bank.
response:
1. How do banks make a profit?
2. When does the bank borrow from you?
3. What do we call the rent that a bank pays for your money?
4. Use these words to make a sentence: if / borrow / must / pay
5. Explain what the bank s margin is.
6. Use these words to make a question: why / margin / greater / inflation
7. Define inflation.
8. What are some services which attract banking fees?
9. Explain how the Government taxes your savings three times over.
10. Where else can you store your money besides in a bank?
Keywords
[1] profit; [2] deposit; [3] interest; [4] rent; [5] borrow; [6] lends; [7] difference; [8] margin; [9] inflation; [10] fees; [11] Governments; [12] taxes; [13] invest
50. Banking [2]: Money
pattern: X is Y, which means Z
text:[1] Money is so familiar that we rarely stop to understand its uses. [2] Money is a medium of exchange, which means that we use it to exchange goods and services indirectly. [3] For example, with money a farmer doesn't have to offer, say, potatoes for the services of a doctor. [4] Money is a measure of value, which means that we can set the value of most other things against the common value of money. [5] Money is a standard for deferred payments, which means that I can calculate exactly how much you will owe me at some time in the future. [6] Money is a store of value, which means it doesn't lose its value like, for example, a basket of vegetables. [7] Money comes in denominations of notes and coins, as well as some restricted documents such as cheques and credit card slips. [8] The restricted money documents cannot be used by everyone everywhere. [9] In Australia, coins are legal tender up to $5 and notes are legal tender up to any amount, but cheques are not legal tender [10] No one can refuse legal tender in payment for a debt.
response:
1. Why wouldn t meat make a good medium of exchange?
2. Sometimes people trade goods for other goods. What is this called? *
3. Why wouldn't, say, shoes or oranges make a good measure of value in an economy?
4. In some countries a young man might be lent fifty cows and have to pay back fifty-five cows a year later. The cows become a measure of deferred payment. Why do you think that bankers would rather trust money than cows as a measure of deferred payment?
5. What makes note & coins different from cheques as a form of money?
6 .Finish this sentence: Restricted money documents ....
7. What do we mean by legal tender?
Notes
- Barter is the exchange of goods for other goods.
51. Banking (3): Types of accounts
pattern:
text:
[1] Nowadays there are many different kinds of bank accounts, but the most important difference is between cheque accounts (also called current accounts) and savings accounts. [2] Banks will often give you a combined cheque and savings account, but if you have a cheque book you must pay a government tax on every transaction. [3] If you don't have a cheque book you don't pay tax on most transactions. [4] It is smart to have a separate cheque account for just those times you need to send cheques. [5] The more money you have in the bank, the fewer fees the bank charges you. [6] If you have less than about $500 in your account, the bank may charge you for every transaction. [7] Apparently, banks don't like poor people much! [8] Always check how often the bank pays interest on your account. [9] They may pay daily, weekly, monthly or yearly. [10] Term deposits pay higher interest, but you can't take your money out for a certain time, say a six months or a year. [11] It is often better to put money into bonds or a share trust than into a term deposit.
response:
1. What are the two most important types of bank accounts?
2. What is a disadvantage of a combined cheque and savings account?
3. Make a question using these words: why / smart / separate / cheque & savings
4. Finish this sentence: You can have a separate cheque account to ...
5. Who pays the lowest fees for their bank accounts?
6. What does the bank do if you have a only very small amount in your account?
7. How often do banks pay interest on bank deposits?
8. Why is it better to have interest paid daily than interest paid yearly?
9. Some bank accounts pay interest on a minimum monthly deposit. Why is this a disadvantage to you?
10. Why do you think that it may be smarter sometimes to keep money in bonds or shares than in a term deposit?
Keywords
[1]different; [2] combined; [3] tax; [4] separate; [5] fewer fees; [6] $500; [7] poor; [8] how often; [9] yearly; [10] term; [11] bonds
52. Banking (4): Plastic Money
pattern:
text:
[1] Almost everyone with a job in Australia now uses some kind of plastic money. [2] Plastic money frees people from the danger of carrying large amounts of cash. [3] A magnetic strip in these cards identifies the owner and contains a secret PIN number. [4] The two main kinds of plastic money are debit cards and credit cards. [5] Debit cards are usually free, but the owner can only spend what is in their bank account. [6] Credit cards "loan" you money up to a certain limit. [7] They may cost about $24 a year, but give the user an interest free period of up to 55 days. [8] Credit cards are very convenient, but you must remember to pay the account each month before the due date. [9] Many people forget to pay the account, which costs them a lot in high interest. [10] Another card is EFTPOS, which lets a shop take money straight out of your account at the moment of sale. [11] A couple of credit cards like American Express and Diners Club have a higher annual fee, but are very useful internationally. [12] Companies may also issue special purpose cards, like petrol cards and department store cards.
response:
1. How widespread is plastic money in Australia?
2. Why is plastic money so popular?
3. What stops strangers or thieves from using your credit card?
4. What are the two main types of plastic money cards?
5. Make a question using these words: who / pay / interest / debit cards
6. What is an advantage of credit cards?
7. What is a risk with credit cards?
8. When must you pay interest on a credit card?
9. Finish this sentence: An EFTPOS card lets ......
10. Why do you think some people get an American Express card, which has a higher fee than most credit cards?
11. Why do you think a petrol card can be useful?
keywords
[1] plastic; [2] free; [3] identifies; [4] two; [5] debit; [6] credit; [7] convenient; [8] forget; [9] EFTPOS; [10] American Express; [11] special
Short Texts from Oz © copyright Thorold May 1998 All Rights Reserved; published by The Plain & Fancy Language Company
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