Managing personal finances has become a crucial topic in IELTS Writing Task 2, particularly in recent tests throughout 2022-2023. Based on analysis from leading IELTS preparation websites, questions about financial management and budgeting have appeared with increasing frequency, especially in countries like India, China, and Vietnam. Here’s a common task 2 question type that has appeared multiple times:
Some people believe that tracking monthly expenses is essential for financial success, while others think it’s unnecessary and time-consuming. Discuss both views and give your opinion.
Analysis of the Question
This question follows the classic discussion + opinion format, requiring candidates to:
- Explore both perspectives on expense tracking
- Provide supporting arguments for each view
- Present and justify their personal stance
- Conclude with a balanced summary
Popular methods for tracking monthly expenses showing digital and traditional approaches
Sample Essay 1 (Band 8.0)
In today’s complex financial landscape, opinions differ regarding the necessity of monitoring monthly expenditures. While some consider it crucial for financial well-being, others view it as an unnecessary burden. This essay will examine both perspectives before presenting my own position.
Those who advocate for expense tracking argue that it provides essential insights into spending patterns and helps achieve financial goals. By maintaining detailed records of expenditures, individuals can identify unnecessary spending, adjust their budgets accordingly, and make informed decisions about their financial future. Furthermore, this practice enables people to build emergency funds and plan for long-term investments more effectively.
Conversely, critics contend that expense tracking is time-consuming and potentially stress-inducing. They believe that maintaining a general awareness of spending is sufficient without the need for detailed recording. Additionally, with modern banking technologies and automatic payment systems, they argue that manual tracking has become obsolete and redundant.
strategies for reducing monthly expenses
In my view, the benefits of expense tracking significantly outweigh its drawbacks. While it may require initial effort to establish a tracking system, the long-term financial benefits are invaluable. Modern digital tools have simplified this process considerably, making it more accessible and less time-consuming than ever before.
In conclusion, although tracking expenses requires dedication, it remains a fundamental tool for achieving financial stability and success. The advent of technology has made this practice more efficient, rendering the arguments against it less convincing.
Sample Essay 2 (Band 6.5)
Many people have different ideas about tracking monthly expenses. Some think it is very important while others don’t agree. I will discuss both sides and give my opinion.
People who support expense tracking say it helps save money. When we write down what we spend, we can see where our money goes and cut unnecessary costs. Also, it helps us make better plans for the future and avoid debt problems.
On the other hand, some people think tracking expenses takes too much time. They say it’s boring and difficult to maintain. Also, they believe that as long as they don’t overspend, there’s no need to track every small expense.
I think tracking expenses is important because it helps us manage money better. Although it takes some time, new apps and phones make it easier to do. We can quickly record our spending and see reports about our money habits.
In conclusion, I believe tracking expenses is good for everyone, even though some people don’t like doing it. It helps us understand our spending and make better financial decisions.
Score Analysis
Band 8.0 Essay Analysis
- Task Response (8): Thoroughly addresses all parts of the task with well-developed ideas
- Coherence and Cohesion (8): Logical organization with clear progression
- Lexical Resource (8): Wide range of vocabulary used naturally
- Grammar (8): Various complex structures used accurately
Band 6.5 Essay Analysis
- Task Response (6): Addresses the task but with less development
- Coherence and Cohesion (6): Basic organization with some progression
- Lexical Resource (7): Adequate vocabulary with some attempts at sophistication
- Grammar (7): Mix of simple and complex sentences with some errors
Key Vocabulary
- expenditure (n) /ɪkˈspendɪtʃə/ – the act of spending money
- financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – understanding how to manage money
- budgeting (v) /ˈbʌdʒɪtɪŋ/ – planning how to spend money
- redundant (adj) /rɪˈdʌndənt/ – unnecessary because of being more than what is needed
- allocation (n) /ˌæləˈkeɪʃn/ – the act of distributing something for a particular purpose
Consider practicing with these similar topics:
- The role of financial education in schools
- Digital versus traditional banking methods
- The importance of saving for retirement
We encourage you to write your own essay on this topic and share it in the comments section for feedback and discussion.
