Financial literacy is a crucial topic that frequently appears in IELTS Writing Task 2 examinations. Based on past exam trends and the growing importance of financial education, it’s highly likely that questions related to financial literacy, particularly for students, will continue to be featured in future tests. Let’s examine a relevant question that has appeared in recent IELTS exams:
Some people believe that schools should teach children how to manage money. Others argue that this is not the role of schools and should be taught at home. Discuss both views and give your own opinion.
This question addresses the debate on whether financial education should be part of the school curriculum or remain a responsibility of parents. Let’s analyze the question and provide sample essays for different band scores.
Question Analysis
The question presents two opposing views:
- Schools should teach children money management
- Financial education should be taught at home, not in schools
To answer this question effectively, you need to:
- Discuss both viewpoints
- Provide reasons and examples to support each view
- State your own opinion and justify it
Remember to maintain a balanced approach while presenting both sides of the argument before concluding with your personal stance.
Sample Essay 1 (Band 8-9)
Financial literacy is an essential life skill, and there is ongoing debate about whether it should be taught in schools or left to parents. While both approaches have their merits, I believe that schools should play a primary role in teaching children how to manage money effectively.
Those who argue that financial education should be the responsibility of parents often cite the home as the natural environment for learning about money matters. They contend that parents can provide personalized guidance based on the family’s financial situation and values. Moreover, some believe that schools are already overburdened with academic subjects and should focus on traditional disciplines rather than life skills.
On the other hand, proponents of school-based financial education argue that it ensures all children receive consistent and comprehensive instruction on money management. This approach can help level the playing field for students from diverse economic backgrounds, as not all parents may have the knowledge or resources to provide adequate financial education. Schools can offer structured curricula developed by experts, covering topics such as budgeting, saving, investing, and understanding credit. Furthermore, integrating financial literacy into existing subjects like mathematics can enhance practical application of academic concepts.
In my opinion, schools should take the lead in teaching financial literacy, complemented by parental guidance. This combination can provide students with both theoretical knowledge and practical experience. Schools can offer a standardized foundation in financial concepts, while parents can reinforce these lessons through real-world applications within the family context. Moreover, school-based financial education can help break the cycle of financial illiteracy that may exist in some families, empowering students to make informed decisions about money throughout their lives.
Financial literacy education for young adults is crucial in today’s complex economic landscape. By incorporating it into the school curriculum, we can ensure that all students have the opportunity to develop this vital skill set, regardless of their family background. This approach not only prepares students for personal financial success but also contributes to the overall economic well-being of society.
In conclusion, while parents undoubtedly play a crucial role in shaping their children’s financial habits, schools are better equipped to provide comprehensive and equitable financial education. By combining the strengths of both institutions, we can create a generation of financially savvy individuals prepared to navigate the challenges of the modern economy.
(Word count: 395)
Sample Essay 2 (Band 6-7)
The question of whether schools or parents should be responsible for teaching children about money management is a topic of much debate. Both sides have valid points, and I will discuss them before giving my own opinion.
Those who believe schools should teach financial literacy argue that it is an important life skill. They say that not all parents have the knowledge to teach their children about money, so schools can ensure all students learn these skills. Schools can also provide a structured curriculum and use qualified teachers to explain complex financial concepts.
On the other hand, some people think that financial education should be taught at home. They argue that parents know their children’s needs best and can provide personalized advice. They also believe that schools are already busy teaching academic subjects and shouldn’t have to add more to their curriculum.
In my opinion, both schools and parents should play a role in teaching children about money. Schools can provide the basic knowledge and theory, while parents can help children apply these concepts in real-life situations. This way, children can benefit from both formal education and practical experience.
The importance of financial literacy in today’s society cannot be overstated. By combining efforts from schools and parents, we can ensure that children grow up with a solid understanding of how to manage their finances responsibly.
In conclusion, while both schools and parents have important roles to play in financial education, I believe a collaborative approach would be most effective in preparing children for their financial futures.
(Word count: 268)
Sample Essay 3 (Band 5-6)
There is a debate about whether schools or parents should teach children about money. Some people think schools should do it, while others say it’s the job of parents. I will talk about both sides and give my opinion.
People who want schools to teach about money say it’s important for all children to learn this. Not all parents know enough about money to teach their kids. Schools can have teachers who know a lot about finance to teach students. This way, all children can learn the same things about money.
But some people think parents should teach their children about money at home. They say parents know their children best and can teach them based on their family’s situation. They also think schools are already busy teaching other subjects and don’t have time for this.
I think both schools and parents should teach children about money. Schools can teach the basics, and parents can show how to use this knowledge in real life. This way, children can learn from both places.
Financial literacy programs for youth are important because they help young people understand money better. If schools and parents work together, children can learn more about managing money.
In conclusion, I believe schools and parents should both help teach children about money. This will give children the best chance to be good with money when they grow up.
(Word count: 234)
Explanation of Band Scores
Band 8-9 Essay:
- Fully addresses all parts of the task with a well-developed response
- Presents a clear position throughout the essay
- Uses a wide range of vocabulary with very natural and sophisticated control of lexical features
- Uses a wide range of structures with full flexibility and accuracy
- Ideas are coherently organized with clear progression throughout
- Uses cohesive devices effectively
Band 6-7 Essay:
- Addresses all parts of the task, although some parts may be more fully covered than others
- Presents a relevant position, although conclusions may become unclear or repetitive
- Uses an adequate range of vocabulary for the task with some inaccuracies
- Uses a mix of simple and complex sentence forms
- Arranges information coherently and there is clear overall progression
- Uses cohesive devices effectively, but cohesion within and/or between sentences may be faulty or mechanical
Band 5-6 Essay:
- Addresses the task only partially; format may be inappropriate in places
- Expresses a position but development is not always clear
- Uses a limited range of vocabulary; errors may occur when expressing complex ideas
- Uses a limited range of structures with some repetition
- Presents information with some organization but there may be lack of overall progression
- Makes inadequate, inaccurate or over-use of cohesive devices
Key Vocabulary
-
Financial literacy (noun) – /faɪˈnænʃəl ˈlɪtərəsi/
Definition: The ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. -
Curriculum (noun) – /kəˈrɪkjələm/
Definition: The subjects comprising a course of study in a school or college. -
Budgeting (noun) – /ˈbʌdʒɪtɪŋ/
Definition: The process of creating a plan to spend your money. -
Investing (verb) – /ɪnˈvestɪŋ/
Definition: Putting money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit. -
Economic landscape (noun phrase) – /ˌiːkəˈnɒmɪk ˈlændskeɪp/
Definition: The overall economic environment or situation. -
Complemented (verb) – /ˈkɒmplɪmentɪd/
Definition: Added to or enhanced by something else. -
Empower (verb) – /ɪmˈpaʊər/
Definition: To give someone the authority or power to do something. -
Equitable (adjective) – /ˈekwɪtəbl/
Definition: Fair and impartial. -
Personalized (adjective) – /ˈpɜːrsənəlaɪzd/
Definition: Designed or produced to meet someone’s individual requirements. -
Collaborative (adjective) – /kəˈlæbərətɪv/
Definition: Involving two or more parties working together.
In conclusion, financial literacy is a crucial skill that students need to develop for their future success. The sample essays provided demonstrate different approaches to addressing this topic in IELTS Writing Task 2, showcasing varying levels of language proficiency and argument development. As you prepare for your IELTS exam, consider practicing with similar topics related to education and life skills. You might encounter questions about the role of technology in education, the balance between academic and practical skills, or the importance of entrepreneurship education in schools.
To further improve your writing skills, try drafting your own essay on this topic and share it in the comments section below. This practice will help you refine your arguments, improve your vocabulary, and gain confidence in expressing your ideas clearly and coherently. Remember, consistent practice is key to achieving a high band score in IELTS Writing Task 2.