What Determines How We Spend Our Money?
Clara: People spend money differently depending on their philosophy of life as a whole. If your religion is important to you, and that religion says to give a certain amount of money to charity, that’s what you’re gonna do.
Clara: If your philosophy is all about material goods and pleasures, you might spend money carelessly. I know a lot of people who are victims of that latter way of living. I say victims because it can keep you in debt. It can actually make you unhappy to spend money like that.
Clara: Um, personally, I spend big bucks for luxury on a special occasion, but not often. I save a lot in my day-to-day, and I give to charity too.
Vocabulary:
philosophy of life – a set of beliefs, values, and principles that guides how a person lives and makes decisions, “Her philosophy of life is to always treat others with kindness and respect.”
as a whole – looked at all together as a single unit; in general, “The project was difficult, but as a whole, the team did an excellent job.”
charity – an organization or system that gives money, food, or help to people who need it, “Every Christmas, they donate old clothes and toys to a local charity.”
material goods – physical items or possessions that you can buy and own, such as cars, clothes, or electronics, “He realized that true happiness comes from relationships, not from material goods.”
carelessly – doing something without thought, care, or attention, which can cause mistakes or damage, “She carelessly left her laptop on the kitchen counter where it got wet.”
victims of that latter way of living – people who suffer or are harmed by the second lifestyle option previously mentioned, “Many people buy expensive items to look rich and become victims of that latter way of living.”
in debt – owing money to a person, bank, or company that you must pay back, “Buying a brand new car without saving up put him deeply in debt.”
spend big bucks – an informal phrase meaning to pay a very large amount of money for something, “They had to spend big bucks to repair the roof after the heavy storm.”
luxury – something expensive, high-quality, and comfortable that is pleasant to have but not strictly necessary, “Staying at a five-star hotel by the beach was a wonderful luxury.”
special occasion – an important, festive, or unusual event, such as a birthday, wedding, or anniversary, “We dressed up in our finest clothes for the special occasion.”
day-to-day – happening regularly as part of ordinary, normal life every day, “Managing the household budget is part of her day-to-day routine.”