IELTS Speaking for Success đ€ Money and modern payment methods (Part 3) + Transcript
Aug 24, 2025
The discussion dives into the decline of cash and the rise of digital payments, highlighting their convenience. It weighs the pros and cons of credit cards, especially the risk of debt. The hosts stress the importance of teaching children about money management and saving habits, promoting financial literacy from an early age. They explore ways to help kids appreciate the value of money and make wise financial decisions, ensuring they're prepared for a cashless future.
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Convenience Is Driving Cash Decline
- Rory says card and tap payments are simply more convenient than carrying cash around.
- This convenience explains why cash use is declining in many countries.
Introduce Practical Financial Skills Early
- Teach children budgeting, paying bills, and basic financial literacy at a young age.
- Rory and Maria recommend fostering financial independence through school and practical tasks.
Use Money Rewards Sparingly And Justifiably
- Rewarding children with money is acceptable if the reward is justified and purposeful.
- Avoid giving money for no reason because it can encourage irresponsible behavior.