Daily Reading Practice · Nonfiction passage
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Financial literacyfinancial literacy (noun)The knowledge and skills to manage money well.≈ Synonym: money management skills🇺🇿UZ: moliyaviy savodxonlik🇷🇺RU: финансовая грамотность refersrefer to (verb)Describes or indicates something.≈ Synonym: means🇺🇿UZ: anglatadi🇷🇺RU: означает to the knowledgeknowledge (noun)Information and understanding gained through learning.≈ Synonym: understanding🇺🇿UZ: bilim🇷🇺RU: знания and skillsskill (noun)Abilities to do something well.≈ Synonym: abilities🇺🇿UZ: malakalar🇷🇺RU: навыки needed to make informedinformed (adj)Based on good knowledge or information.≈ Synonym: well-informed🇺🇿UZ: asosli🇷🇺RU: обоснованный decisionsdecision (noun)Conclusions reached after consideration.≈ Synonym: choices🇺🇿UZ: qarorlar🇷🇺RU: решения about moneymoney (noun)Currency used to buy things.≈ Synonym: cash🇺🇿UZ: pul🇷🇺RU: деньги — including how to budgetbudget (verb)To plan how money will be spent.≈ Synonym: plan spending🇺🇿UZ: byudjet tuzmoq🇷🇺RU: составлять бюджет, save, borrow, and invest wiselywisely (adverb)In a sensible, thoughtful way.≈ Synonym: sensibly🇺🇿UZ: oqilona🇷🇺RU: мудро. Despite its importanceimportance (noun)The state of being significant or valued.≈ Synonym: significance🇺🇿UZ: ahamiyat🇷🇺RU: важность in everyday life, financial literacy is often not formallyformally (adverb)In an official or structured way.≈ Synonym: officially🇺🇿UZ: rasmiy ravishda🇷🇺RU: формально taughtteach (verb)Given instruction on a subject.≈ Synonym: instructed🇺🇿UZ: o'rgatilgan🇷🇺RU: преподаётся in schools, leaving many young people to learn these skills through trial and errortrial and error (noun)A method of learning through repeated attempts.≈ Synonym: experimentation🇺🇿UZ: sinov va xato usuli🇷🇺RU: метод проб и ошибок, or not at all.
One of the most basic elementselement (noun)Essential parts of something.≈ Synonym: components🇺🇿UZ: elementlar🇷🇺RU: элементы of financial literacy is budgetingbudgeting (noun)The practice of planning how to spend money.≈ Synonym: financial planning🇺🇿UZ: byudjetlashtirish🇷🇺RU: бюджетирование: understanding how much money is coming in and planning how it will be spent. Without this skill, it becomes easy to spend more than one earns, leading to debtdebt (noun)Money owed to another party.≈ Synonym: money owed🇺🇿UZ: qarz🇷🇺RU: долг that can be difficult to escape. Financially literateliterate (adj)Having knowledge or competence in a particular area.≈ Synonym: knowledgeable🇺🇿UZ: savodli🇷🇺RU: грамотный people are generally better able to distinguishdistinguish (verb)To recognise the difference between things.≈ Synonym: differentiate🇺🇿UZ: farqlamoq🇷🇺RU: различать between essentialessential (adj)Absolutely necessary.≈ Synonym: vital🇺🇿UZ: muhim🇷🇺RU: необходимый spending and optionaloptional (adj)Available to be chosen but not compulsory.≈ Synonym: non-essential🇺🇿UZ: ixtiyoriy🇷🇺RU: необязательный purchases, helping them stay within their meansmeans (noun)The financial resources one has available.≈ Synonym: financial resources🇺🇿UZ: moliyaviy imkoniyat🇷🇺RU: средства (финансовые).
Understanding interestinterest (noun)Money charged for borrowing, or earned on savings.≈ Synonym: finance charge🇺🇿UZ: foiz (bank)🇷🇺RU: проценты (по кредиту) rates is another crucial part of financial literacy. When people borrowborrow (verb)To take money with the intention of repaying it.≈ Synonym: take a loan🇺🇿UZ: qarz olmoq🇷🇺RU: занимать money, whether through a credit card, loan, or mortgage, they are usually charged interest — an additional cost for borrowing. Without understanding how interest works, people can end up paying far more than they originally borrowed, sometimes for many years. The same principle works in reverse for savingssavings (noun)Money saved over time.≈ Synonym: money saved🇺🇿UZ: jamg'arma🇷🇺RU: сбережения: money placed in an interest-bearinginterest-bearing (adj)Earning interest over time.≈ Synonym: yield-generating🇺🇿UZ: foiz olib keladigan🇷🇺RU: процентный account can grow over time, a concept often called compound interestcompound interest (noun)Interest calculated on both the initial sum and past interest.≈ Synonym: interest on interest🇺🇿UZ: murakkab foiz🇷🇺RU: сложные проценты.
Financial literacy also plays an important role in long-term planning, such as saving for retirementretirement (noun)The period after someone stops working, usually due to age.≈ Synonym: later life after work🇺🇿UZ: nafaqaga chiqish🇷🇺RU: выход на пенсию or preparing for unexpected emergenciesemergency (noun)Sudden, serious, unexpected situations.≈ Synonym: crises🇺🇿UZ: favqulodda vaziyatlar🇷🇺RU: чрезвычайные ситуации. Research consistently shows that people with stronger financial knowledge are more likely to build an emergency fundemergency fund (noun)Money saved for unexpected expenses.≈ Synonym: rainy-day fund🇺🇿UZ: favqulodda jamg'arma🇷🇺RU: резервный фонд, avoid unnecessary debt, and feel less stressedstressed (adj)Feeling mental or emotional strain.≈ Synonym: under pressure🇺🇿UZ: asabiylashgan🇷🇺RU: в стрессе about money in general.
Recognising this gap, some countries have begun introducing financial education into school curriculacurriculum (noun)The subjects taught in a school or course.≈ Synonym: syllabi🇺🇿UZ: o'quv dasturlari🇷🇺RU: учебные программы, teaching students practical skills such as reading a payslippayslip (noun)A document showing an employee's pay and deductions.≈ Synonym: pay statement🇺🇿UZ: ish haqi varaqasi🇷🇺RU: расчётный листок, understanding taxes, or comparing loan offersoffer (noun)Proposals presenting terms for something.≈ Synonym: proposals🇺🇿UZ: takliflar🇷🇺RU: предложения. Supporters argue that just as schools teach reading and mathematics as essential life skills, understanding how money works deserves the same level of attentionattention (noun)Notice or interest shown to something.≈ Synonym: notice🇺🇿UZ: e'tibor🇷🇺RU: внимание, given how directly it affects nearly every majormajor (adj)Important or significant.≈ Synonym: significant🇺🇿UZ: muhim (katta)🇷🇺RU: важный decision people make throughout their lives.