Financial literacy among young people has become an increasingly important topic in recent years. As an IELTS Writing Task 2 examiner, I’ve noticed a significant rise in questions related to financial education for youth. This trend is likely to continue, making it a crucial area for IELTS candidates to focus on. Let’s explore this topic through the lens of IELTS Writing Task 2, using a relevant question that has appeared in recent tests.
Financial education for youth
Analyzing the IELTS Task 2 Question
Let’s consider the following question, which is representative of the type you might encounter in the IELTS Writing Task 2:
Some people say that schools should teach children how to manage money. Others believe that this is not the responsibility of schools. Discuss both these views and give your own opinion.
This question addresses the core issue of financial education for youth and its place in the school curriculum. It requires you to:
- Discuss arguments for teaching financial management in schools
- Discuss arguments against schools taking on this responsibility
- Provide your own opinion on the matter
Sample Essays
Band 7-8 Essay
In today’s complex financial landscape, the question of whether schools should take on the responsibility of teaching children money management skills has become increasingly pertinent. While some argue that this is an essential life skill that should be part of the curriculum, others believe it falls outside the scope of a school’s duties. This essay will examine both perspectives before presenting my own view on the matter.
Proponents of financial education in schools argue that it is a crucial life skill that can significantly impact a person’s future well-being. They contend that by teaching children how to budget, save, and invest from an early age, schools can help create a generation of financially responsible adults. This knowledge can potentially reduce personal debt, increase savings rates, and contribute to overall economic stability. Moreover, as financial products and services become increasingly sophisticated, early education can help young people navigate these complexities with confidence.
On the other hand, those who oppose this idea argue that schools already have a full curriculum and adding financial education would overburden both teachers and students. They believe that the responsibility for teaching money management should primarily lie with parents, who can provide personalized guidance based on their family’s financial situation. Additionally, some argue that financial institutions and community organizations are better equipped to provide up-to-date and practical financial education.
In my opinion, while parents and external organizations certainly have a role to play, schools are uniquely positioned to provide comprehensive and equitable financial education to all children. By integrating financial literacy into existing subjects like mathematics or social studies, schools can ensure that all students, regardless of their background, have access to this crucial knowledge. Furthermore, the structured learning environment of a school allows for a systematic approach to building financial skills over time.
In conclusion, given the increasing complexity of financial systems and the potential impact on individual and societal well-being, I believe that teaching money management in schools is not only beneficial but necessary. While it should not replace other core subjects, integrating financial education into the curriculum can help prepare students for the financial challenges they will face in adulthood, ultimately contributing to a more financially stable and prosperous society.
(Word count: 345)
Band 6-7 Essay
The question of whether schools should teach children about managing money is a topic of debate. Some people think it’s important for schools to do this, while others believe it’s not their job. This essay will look at both sides and give my opinion.
Those who support financial education in schools say it’s a very important skill for life. They think that if children learn about money early, they will be better with money when they grow up. This could help them avoid problems like debt and make better choices about saving and spending. Also, as money matters get more complicated, learning about it in school could help young people understand things better.
On the other hand, some people think schools shouldn’t teach about money. They say schools already have too many things to teach and adding money lessons would be too much. These people believe parents should teach their children about money at home. They also think banks and other organizations might be better at teaching about money because they know more about it.
I think that while parents and other groups can help, schools are in a good position to teach all children about money. If schools include money lessons in subjects like math or social studies, all students can learn about it, no matter what their family background is. Schools can also teach about money in a organized way over many years.
To sum up, I believe that teaching children about money in schools is a good idea. The world of money is getting more difficult to understand, and learning about it in school can help students be ready for money problems when they are adults. This could help make society better with money overall.
(Word count: 295)
Key Considerations When Writing
Vocabulary and Grammar
When addressing this topic, it’s crucial to use a range of vocabulary related to finance and education. Here are some key differences in language use between the two band scores:
Band 7-8:
- More sophisticated vocabulary: “financial landscape”, “pertinent”, “curriculum”
- Complex sentence structures: “While some argue that this is an essential life skill that should be part of the curriculum, others believe it falls outside the scope of a school’s duties.”
- Advanced linking words: “Moreover”, “Furthermore”, “Additionally”
Band 6-7:
- Simpler vocabulary: “important skill”, “grow up”, “complicated”
- More straightforward sentence structures: “Those who support financial education in schools say it’s a very important skill for life.”
- Basic linking words: “Also”, “On the other hand”, “To sum up”
Essay Structure
Both essays follow a clear structure:
- Introduction with a clear thesis statement
- Body paragraph discussing arguments for financial education in schools
- Body paragraph discussing arguments against
- Personal opinion
- Conclusion summarizing the main points and restating the opinion
However, the Band 7-8 essay demonstrates more sophisticated paragraph development and smoother transitions between ideas.
Key Vocabulary to Remember
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Financial literacy (noun) /faɪˈnænʃəl ˈlɪtərəsi/: The ability to understand and effectively use various financial skills.
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Curriculum (noun) /kəˈrɪkjələm/: The subjects comprising a course of study in a school or college.
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Budget (verb) /ˈbʌdʒɪt/: To plan how to spend money.
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Invest (verb) /ɪnˈvest/: To put money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit.
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Economic stability (noun phrase) /ˌiːkəˈnɒmɪk stəˈbɪləti/: A state in which an economy experiences minimal fluctuations in output growth and exhibits a consistently low inflation rate.
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Overburden (verb) /ˌəʊvəˈbɜːdn/: To load with too great a burden.
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Equitable (adjective) /ˈekwɪtəbl/: Fair and impartial.
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Integrate (verb) /ˈɪntɪɡreɪt/: To combine one thing with another so that they become a whole.
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Systematic (adjective) /ˌsɪstəˈmætɪk/: Done or acting according to a fixed plan or system; methodical.
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Prosperity (noun) /prɒˈsperəti/: The state of being prosperous; financial well-being and success.
Conclusion
The topic of financial education for youth is likely to remain relevant in IELTS Writing Task 2. To prepare, practice writing essays on related themes such as:
- The role of technology in financial education
- The impact of financial literacy on national economic growth
- Comparing financial education systems across different countries
- The relationship between financial education and social inequality
Remember to always analyze the question carefully, structure your essay logically, and use a range of vocabulary and grammatical structures appropriate to your target band score. By mastering this topic, you’ll be well-prepared for a variety of potential IELTS Writing Task 2 questions related to youth unemployment challenges and the importance of financial literacy in personal finance management.
