Task 2 (10 points)
Read the text and do the task. Choose the appropriate phrase in the gap (1-10). Use each phrase only once. An example (0) has been given.

As a teenager, you may regularly face one problem – (0) money management. In today’s world, the majority of parents give pocket money or a monthly allowance to their teenage kids. So how do you as a teenager make the best use of this allowance? Let’s explore.

The first thing you must remember is that pocket money is not easy money (1)  . A lot of teenagers do not understand the importance of pocket money and only think of it as a means to get what they want. But keep in mind that pocket money is an excellent way for you to learn such things as (2)  .

Pocket money can be of two types – free money and earned money. Free money is when you receive an allowance without you having to work for it. The second type – earned money – is when you (3) to earn an allowance.

Ok, you must be thinking – pocket money is meant to be spent, so why are we talking of saving? This is because the rule of financial planning is (4)  . When you receive your pocket money for the week or the month, first put aside a small amount as saving. It is important to put your savings away in a separate place and do not keep them along with the money used for expenses.

Saving is one important aspect of your pocket money. But the more important is to stop
(5)  . You can grow money only if you save and you can save only if you spend less than you receive.

When the month begins, plan your monthly budget by deciding what you need to buy. There may be some cases when you (6)  . Include these in your budget.

Control your expenses on a daily basis. Remember that (7)  . Think of innovative ways of spending time with your friends which does not involve spending money. This can include (8)  .

Another thing to control your expenses is to avoid carrying all the pocket money you get in your wallet. Instead keep it in a piggy bank or in an envelope. Take only what you (9) with a small amount of extra cash when you go out. This way, you will not
spend more than was planned.

Receiving pocket money or an allowance from your parents teaches you to become financially disciplined and independent. Spend your pocket money wisely, save regularly and plan your investments sensibly to become (10)  .
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