VOA慢速英语2012 Economics Report - Ready to Save Like There's No Tomorrow?

 

Economics Report - Ready to Save Like There's No Tomorrow?

This is the VOA Special English Economics Report.

Are you a saver or a spender?

"A penny saved is a penny earned." This old saying calls attention to the wisdom of saving money. "Putting money away for a rainy day" is another way to talk about saving for the future.

People who hate to spend money are known as "tightwads," while those who like to get the most value for their money are called "thrifty¹." A thrifty person is different from a "spendthrift." A spendthrift is someone who spends wastefully². People like that are often said to spend money "like a drunken sailor" or "like there's no tomorrow."

In the United States, people who want to start a savings³ account have different choices of where to put their money. These include banks and credit unions. Credit unions are cooperatives for people who have some kind of connection. For example, the members might work for a university or a government agency. Most credit unions are nonprofit organizations.

Credit unions, banks and other financial institutions pay interest on savings accounts. But the interest rates are low. Certificates of deposit pay higher returns. With a certificate of deposit, or CD, a person agrees not to withdraw the money for a certain period of time. This term could be anywhere from a few months to several years. Longer terms, and larger amounts, pay higher interest. People can withdraw their money early but they have to pay a penalty.

Another way to save is through a money market fund. This is a kind of mutual⁴ fund. Mutual funds invest money from many people. The money is sometimes placed in short-term government securities. Money market funds, however, may not be federally guaranteed like other kinds of savings. The Federal Deposit Insurance Corporation guarantees savings up to two hundred fifty thousand dollars.

In a number of countries, people have been saving less over the years. The Organization for Economic Cooperation and Development is a group of thirty-four countries. The OECD says in nineteen ninety, Americans had a household savings rate of seven percent. This year, that rate is expected to be a little more than four percent. Many European countries have higher rates, but Americans save more than families in countries like Japan and South Korea.

And that's the VOA Special English Economics Report. To read, listen and learn English, go to www.voanews.cn. You can also find our captioned⁵ videos at the VOA Learning English channel on YouTube. I'm Shirley Griffith.

1 thrifty   

adj.节俭的；兴旺的；健壮的

参考例句：

• Except for smoking and drinking,he is a thrifty man.除了抽烟、喝酒，他是个生活节俭的人。
• She was a thrifty woman and managed to put aside some money every month.她是个很会持家的妇女，每月都设法存些钱。

2 wastefully   

浪费地，挥霍地，耗费地

参考例句：

• He soon consumed his fortune, ie spent the money wastefully. 他很快就把财产挥霍殆尽。
• Small Q is one flies upwards the bracelet youth, likes enjoying noisily, spends wastefully. 小Q则是一个飞扬跳脱的青年，爱玩爱闹，花钱大手大脚。

3 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

4 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

5 captioned   

a.标题项下的； 标题所说的

参考例句：

• This paper reviews the production, development and nationalization of the captioned materials. 本文就铜系合金引线框架材料的生产、发展和国产化进程作一论述。
• Please advise other considerable hotels for this captioned group. 请推荐其它一些高级的旅馆给这一群打标语的人。