As an IELTS instructor with over two decades of experience, I’ve guided countless students towards success in their speaking exams. One topic that frequently arises, and often catches candidates off guard, is “How you spend your money.” While seemingly straightforward, this topic goes beyond simply listing your expenses. It delves into your values, priorities, and even your aspirations.
This comprehensive guide will equip you with the strategies and vocabulary to confidently discuss how you manage your finances in the IELTS Speaking test.
Understanding the “How You Spend Your Money” Topic
The examiner isn’t asking for a detailed breakdown of your monthly budget. Instead, they aim to assess:
- Fluency and Coherence: Your ability to speak naturally, connect ideas smoothly, and develop your responses.
- Lexical Resource: Your range and accuracy in using vocabulary related to finances, spending habits, and personal values.
- Grammatical Range and Accuracy: Your ability to use diverse grammatical structures correctly.
- Pronunciation: Your clarity and naturalness in spoken English.
Navigating the Topic Effectively
Here’s how to approach questions about your spending habits:
1. Broaden Your Perspective
Think beyond necessities like rent and groceries. Consider:
- Entertainment: How do you unwind and enjoy your free time? (e.g., concerts, movies, dining out)
- Travel and Experiences: Do you prioritize exploring new places or cultures?
- Personal Development: Do you invest in education, courses, or books?
- Savings and Investments: Are you future-oriented in your financial planning?
- Charitable Giving: Do you donate to causes you care about?
2. Employ Precise Vocabulary
Instead of basic words like “buy,” utilize a richer vocabulary:
- Purchase: “I recently purchased a new laptop to enhance my productivity.”
- Invest: “I believe in investing in experiences, which is why I’m planning a trip to Japan.”
- Allocate Funds: “I allocate a portion of my income towards my savings goals.”
- Splurge: “Once in a while, I’ll splurge on a nice meal at a fancy restaurant.”
- Prioritize: “I prioritize experiences and personal growth over material possessions.”
IELTS Speaking Vocabulary: Money
3. Illustrate with Examples
Use concrete examples to make your responses more engaging and relatable:
- Instead of: “I spend a lot on entertainment.”
- Say: “I’m a huge film buff, so I often spend money on movie tickets and streaming subscriptions.”
4. Connect to Your Values
This adds depth and authenticity to your answers:
- “I value experiences over material possessions, so I tend to spend more on travel and trying new activities.”
- “Financial security is important to me, which is why I prioritize saving a portion of my income each month.”
Example IELTS Speaking Questions and Sample Answers
Let’s look at some potential questions and how to answer them effectively:
1. What do you usually spend your money on?
Sample Answer: “As a full-time student, I have to be quite mindful of my spending. Rent and groceries take up a significant portion of my budget. However, I also believe in maintaining a balanced lifestyle, so I allocate some funds for socializing with friends, usually going out for coffee or catching the occasional movie. I also try to save a little each month for future travel plans.”
2. Do you prefer to save money or spend it?
Sample Answer: “I try to strike a balance between saving and spending. I believe it’s important to have financial security, so I make sure to save a portion of my income each month. At the same time, I also believe in enjoying life’s experiences, so I don’t deprive myself of occasional treats or outings with loved ones.”
3. Have your spending habits changed in recent years?
Sample Answer: “Yes, definitely. When I was younger, I was more impulsive with my spending and often splurged on clothes and gadgets. However, as I’ve gotten older, my priorities have shifted. I’ve become more conscious of my financial goals and now prioritize saving for a down payment on a house.”
Tips for Success
- Practice Regularly: Familiarize yourself with common IELTS Speaking topics and practice responding to them fluently and naturally.
- Record Yourself: Listening to recordings of your speaking can help identify areas for improvement in pronunciation, fluency, and vocabulary usage.
- Expand Your Vocabulary: Make a list of topic-related words and practice using them in your speaking.
- Don’t Memorize Answers: Focus on developing strategies and building your vocabulary to confidently address a variety of questions.
By following these tips and practicing consistently, you’ll be well-prepared to discuss “How you spend your money” confidently and effectively on your IELTS Speaking exam. Good luck!
