Summary
Students begin by discussing different income sources, then learn essential financial vocabulary. They watch a video to distinguish between passive and residual income, analyze various money-making strategies, and practice using the present perfect tense to talk about work experience. The lesson concludes with students planning their own side hustle and discussing the broader implications of financial independence.
Activities
Students start by discussing their views on earning extra money, what a "side hustle" is, and the concept of financial independence in a warm-up activity. This sets the stage for the lesson's financial theme.
A video analysis helps students differentiate between passive and residual income and identify common myths. They answer comprehension questions to check their understanding of the key concepts presented in the video.
Students will brainstorm and plan a potential side hustle in pairs. Using a template, they will evaluate an idea based on skills required, startup costs, time commitment, and potential challenges.
The lesson culminates in a group discussion on financial independence and a writing task. Students will write a short advice article for someone starting their first side hustle, applying the lesson's vocabulary and grammar.
Vocabulary focus
This lesson introduces essential financial terminology related to alternative income streams. Key vocabulary includes passive income, side hustles, upfront investment, ongoing effort, startup costs, profit margins, scalable, and distinguishing between passive and residual income.
Grammar focus
The grammar point is the present perfect tense. Students will practice using it to talk about past experiences and unfinished actions related to work and business, such as "She has worked as a freelancer for three years" or "I have never tried selling products online."
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