Personal financial security has become an increasingly common topic in IELTS Writing Task 2 examinations, appearing in various forms over the past few years. Based on analysis of recent test papers and importance of building a diversified investment portfolio, this theme is likely to remain relevant in future tests.
Frequency analysis of financial security topics in IELTS Writing Task 2
Analysis of Topic and Question Types
The most common question type related to financial security appears in the form of discussion essays. Here’s a recent example:
Some people believe that financial security comes from having a well-paid job, while others think that proper financial management and budgeting are more important. Discuss both views and give your opinion.
Sample Essays for Different Band Scores
Band 8.5 Sample Essay
The question of how to achieve financial security has sparked considerable debate, with some emphasizing career earnings while others prioritize financial management skills. In my view, while a high income is beneficial, proper financial planning and importance of budgeting for families are more crucial for long-term financial stability.
Those who prioritize well-paid employment argue that a substantial income provides the foundation for financial security. A high salary enables individuals to meet their basic needs comfortably, save for emergencies, and invest in their future. For instance, professionals in fields like medicine or technology often enjoy greater financial stability due to their significant earning potential.
However, proponents of financial management emphasize that income alone doesn’t guarantee security. The role of financial literacy in personal debt management is crucial, as evidenced by numerous cases of high-earning individuals facing bankruptcy due to poor money management. Effective budgeting, prudent investment decisions, and responsible spending habits are essential skills that determine long-term financial health.
In my opinion, while a good salary provides opportunities, financial management skills are more fundamental to achieving lasting security. The importance of understanding financial risks before investing and maintaining disciplined spending habits can help even moderate-income earners build substantial wealth over time. Moreover, these skills become particularly crucial during economic uncertainties when job security may be threatened.
Band 6.5 Sample Essay
Financial security is important for everyone, and people have different ideas about how to achieve it. Some think having a good job with high salary is the main thing, while others believe managing money well is more important.
People who support having a well-paid job say it gives more money to save and spend. When someone earns a lot, they can buy what they need and save some money too. For example, doctors and lawyers usually have good financial security because they earn high salaries.
On the other hand, some people think managing money properly is more important. Even if someone earns a lot, they might spend too much and have problems. Good financial management means making budgets and saving regularly. Many people with average salaries can be financially secure if they manage money well.
I think both views are partly right, but financial management is more important. Having a good salary helps, but without proper planning and importance of long-term savings plans for families, even high earners can face problems. Learning about money management helps people at all income levels.
Key Vocabulary
- Financial security (n) /faɪˈnænʃəl sɪˈkjʊərɪti/ – state of having stable income/savings
- Prudent (adj) /ˈpruːdənt/ – careful and sensible about money
- Financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – understanding of money management
- Substantial (adj) /səbˈstænʃəl/ – large in amount
- Economic uncertainties (n) /ˌiːkəˈnɒmɪk ʌnˈsɜːtənti/ – unpredictable financial conditions
Conclusion
For practice, try writing your own essay addressing this topic, focusing on clear structure and relevant examples. Consider exploring related topics like retirement planning or investment strategies in your practice essays. Share your practice essays in the comments for feedback and discussion.
