Mastering IELTS Writing Task 2: Sample Essays on the Importance of Tracking Monthly Expenses

The topic of tracking monthly expenses is a recurring theme in IELTS Writing Task 2 essays. Based on analysis of past exam questions and current trends, it’s likely to appear in future tests, especially in questions related to personal finance, budgeting, or financial literacy. Let’s explore a sample question that closely resembles those seen in actual IELTS exams:

Some people believe that tracking monthly expenses is crucial for financial well-being, while others think it’s unnecessary. Discuss both views and give your own opinion.

Analyzing the Question

This question requires candidates to:

1. Discuss reasons why tracking monthly expenses is important
2. Explain why some people might consider it unnecessary
3. Provide a personal opinion on the matter

Now, let’s examine sample essays for different band scores, starting with a high-scoring response.

Sample Essay 1 (Band 8-9)

Financial management is a critical life skill, and the practice of tracking monthly expenses has become a topic of debate. While some individuals consider it essential for financial health, others deem it superfluous. This essay will explore both perspectives before presenting my own viewpoint.

Proponents of expense tracking argue that it provides a clear picture of one’s financial situation. By meticulously recording all expenditures, individuals can identify spending patterns, detect unnecessary outlays, and make informed decisions about their financial future. This level of awareness can lead to more effective budgeting, increased savings, and ultimately, greater financial security. Moreover, in an era of digital transactions and easy credit, tracking expenses serves as a safeguard against overspending and accumulating debt.

Conversely, those who view expense tracking as unnecessary often cite the time-consuming nature of the task. They argue that with the proliferation of banking apps and automatic bill payments, one can easily maintain a general sense of their financial status without detailed tracking. Additionally, some believe that excessive focus on every minor expense can lead to stress and a diminished quality of life, potentially fostering a miserly attitude towards spending.

In my opinion, the benefits of tracking monthly expenses far outweigh the drawbacks. While it may require some initial effort, the insights gained from this practice are invaluable for long-term financial planning and stability. However, I believe the key lies in finding a balance – employing efficient tracking methods that provide necessary information without becoming overly restrictive or time-consuming.

In conclusion, tracking monthly expenses is a powerful tool for financial empowerment. Although it may not appeal to everyone, its potential to enhance financial literacy and promote responsible spending makes it a practice worth adopting, albeit in a manner tailored to individual needs and lifestyles.

(Word count: 309)

Analysis of Band 8-9 Essay

This essay demonstrates excellence in several key areas:

1. Task Achievement: The essay fully addresses all parts of the task, discussing both views and clearly stating a personal opinion.

2. Coherence and Cohesion: Ideas are logically organized with clear progression. Paragraphs are well-linked, and cohesive devices are used effectively.

3. Lexical Resource: A wide range of vocabulary is used accurately and appropriately. Complex ideas are expressed with precision.

4. Grammatical Range and Accuracy: The essay showcases a variety of complex structures used accurately. There are no noticeable errors.

5. Development of Ideas: Each point is well-elaborated with relevant examples and explanations.

How to create a monthly budget plan can be a valuable skill for those looking to improve their financial management abilities.

Sample Essay 2 (Band 6-7)

Nowadays, many people talk about whether it’s important to keep track of how much money we spend each month. Some think it’s very important, while others don’t see the point. In this essay, I will discuss both sides and give my opinion.

On one hand, tracking monthly expenses can be really helpful. When people write down everything they spend, they can see where their money is going. This can help them save more and avoid wasting money on things they don’t need. Also, it can be useful for planning big purchases or saving for the future. Many financial experts recommend this practice for better money management.

However, some people think it’s not necessary to track every expense. They say it takes too much time and can be stressful. With modern banking apps, people can easily check their account balance without writing everything down. Some also believe that being too focused on money can make life less enjoyable and lead to being too careful with spending.

In my opinion, tracking monthly expenses is generally a good idea, but it doesn’t have to be too strict. I think it’s important to know where our money goes, but we don’t need to record every small purchase. A balance between awareness and flexibility is key. Maybe checking expenses once a week or focusing on major categories would be enough for most people.

To conclude, while tracking monthly expenses has clear benefits, it’s understandable why some people find it unnecessary. I believe a moderate approach to expense tracking can be beneficial for most individuals, helping them manage their finances without becoming overly obsessed with every penny spent.

(Word count: 276)

Analysis of Band 6-7 Essay

This essay demonstrates competence in several areas but with some limitations:

1. Task Achievement: The essay addresses all parts of the task, but the discussion of each view could be more developed.

2. Coherence and Cohesion: The essay is generally well-organized, but the use of cohesive devices is sometimes repetitive or mechanical.

3. Lexical Resource: There is a sufficient range of vocabulary, but more sophisticated lexical items could have been used.

4. Grammatical Range and Accuracy: A mix of simple and complex sentence structures is used, with only occasional errors that do not impede communication.

5. Development of Ideas: Ideas are relevant but could be extended further with more specific examples or explanations.

Importance of tracking monthly expenses

Key Vocabulary for IELTS Writing on Financial Topics

1. Financial well-being (noun): The state of being comfortable, healthy, or happy with respect to finances.
   Pronunciation: /faɪˈnænʃəl wel-ˈbiːɪŋ/

2. Expenditure (noun): The act of spending money; an amount of money spent.
   Pronunciation: /ɪkˈspendɪtʃər/

3. Budgeting (noun): The process of creating a plan to spend your money.
   Pronunciation: /ˈbʌdʒɪtɪŋ/

4. Financial literacy (noun): The ability to understand and effectively use various financial skills.
   Pronunciation: /faɪˈnænʃəl ˈlɪtərəsi/

5. Overspending (verb): To spend more money than you can afford or have planned for.
   Pronunciation: /ˌəʊvəˈspendɪŋ/

6. Fiscal responsibility (noun): The obligation of governments or individuals to manage finances prudently.
   Pronunciation: /ˈfɪskəl rɪˌspɒnsəˈbɪləti/

7. Financial planning (noun): The process of meeting your life goals through proper management of your finances.
   Pronunciation: /faɪˈnænʃəl ˈplænɪŋ/

8. Discretionary spending (noun): Money spent on non-essential items or services.
   Pronunciation: /dɪˈskreʃənəri ˈspendɪŋ/

9. Frugality (noun): The quality of being economical with money or food; thriftiness.
   Pronunciation: /fruːˈɡæləti/

10. Financial empowerment (noun): Having control over one’s financial situation and future.
    Pronunciation: /faɪˈnænʃəl ɪmˈpaʊərmənt/

Conclusion

The topic of tracking monthly expenses is likely to remain relevant in IELTS Writing Task 2 essays due to its importance in personal finance and financial literacy. As you prepare for your IELTS exam, consider practicing with similar topics such as:

• The role of financial education in schools
• The impact of technology on personal finance management
• The importance of saving versus spending in modern economies
• The challenges of budgeting in a consumer-driven society

Remember, the key to success in IELTS Writing Task 2 is not just about the content, but also how you structure your arguments, use appropriate vocabulary, and demonstrate your language skills. Practice writing essays on these topics, focusing on clear organization, varied vocabulary, and accurate grammar. Don’t forget to time yourself to ensure you can complete the task within the allocated 40 minutes.

We encourage you to try writing your own essay on the Importance Of Tracking Monthly Expenses and share it in the comments section below. This practice will help you refine your writing skills and gain valuable feedback from others preparing for the IELTS exam.

IELTS Writing Practice Session

How to create a monthly budget plan is an essential skill that can complement your understanding of tracking monthly expenses, further enhancing your ability to discuss financial topics in your IELTS Writing Task 2 essays.