Vocabulary:
- manpower /MAN-pou-er/
- Millennials /mil-LEN-eeuhls/
- fund /fuhnd/
- anticipate /an-TIS-uh-peyt/
- literate /LIT-er-it/
[noun] the supply of people who are able to work
The lack of manpower causes the company to shutdown.
[noun] people born in the 1980s or 1990s
Millennials nowadays are adventurous that’s why they like to travel.
[noun] an amount of money saved, collected, or provided for a particular purpose
People from different countries contributed money for the disaster fund.
[verb] to realize beforehand; foretaste or foresee
We anticipate that there will be a storm coming because the weather seems bad.
[adjective] having or showing knowledge about something
People need to be financially literate to become rich.
Nowadays, the majority of the manpower are Millennials. They are people aged between 20 and 30 who are now working at their young age. But, did you know that most Millennials are not saving money for emergency funds?
Emergency funds are savings that are used in case of emergency. Major health expenses, house repairments and the likes are such circumstances where we can use emergency funds. An amount equivalent to three-month cost of living, is the ideal savings for an emergency funds.
According to PNC Investments, 52% of the young workers doesn’t have emergency funds. Meager salaries are one of the top reasons why Millennials don’t save any money. Some of them believe that emergency savings funds are not necessary.
Money allotment for emergency is important for every person. It is essential because we need to anticipate situations that may cause us to produce money in the future. We need to secure our financial stability today for the upcoming events in the future.
There are various ways of saving money for emergency funds.Budgeting the salary before spending is one of the alternatives to save money. If a person wants to avoid debt, it is a must to be financially literate and save money for the future.
Emergency funds are savings that are used in case of emergency. Major health expenses, house repairments and the likes are such circumstances where we can use emergency funds. An amount equivalent to three-month cost of living, is the ideal savings for an emergency funds.
According to PNC Investments, 52% of the young workers doesn’t have emergency funds. Meager salaries are one of the top reasons why Millennials don’t save any money. Some of them believe that emergency savings funds are not necessary.
Money allotment for emergency is important for every person. It is essential because we need to anticipate situations that may cause us to produce money in the future. We need to secure our financial stability today for the upcoming events in the future.
There are various ways of saving money for emergency funds.Budgeting the salary before spending is one of the alternatives to save money. If a person wants to avoid debt, it is a must to be financially literate and save money for the future.
Comprehension Questions:
- Based on the article, majority of the manpower are?
- What is emergency funds?
- How much is the ideal amount of savings for an emergency fund?
- How many percent of the young workers don’t save money?
- Why does money allotment for emergency is important, according to the article?
Discussion Questions:
- Why do you think millennials don’t save money for emergency funds?
- Why is saving money important? Please explain your answer.
- Do you think emergency funds are necessary? Please explain your answer.
- In your opinion, what are the benefits of saving money?
- Please write three ways on how to save money. Explain your answer.