Personal finance and debt management have become increasingly prevalent topics in IELTS Writing Task 2, particularly in questions exploring economic responsibility and financial literacy. Based on analysis of past exam papers, this theme appears in approximately 15% of tests, making it crucial for candidates to be well-prepared.
IELTS Writing Task 2 sample essay on personal debt management and financial planning
Let’s examine a recent IELTS Writing Task 2 question on this topic:
Some people believe that individuals should be fully responsible for their personal debt, while others think governments should help citizens manage their financial difficulties. Discuss both views and give your opinion.
Analysis of the Question
This question requires candidates to:
- Discuss two contrasting viewpoints about personal debt responsibility
- Consider both individual and governmental roles
- Present and justify their own opinion
- Provide relevant examples and supporting evidence
Sample Essays for Different Band Scores
Band 8.5 Sample Essay (290 words)
The management of personal debt has become a contentious issue, with divergent views on whether individuals or governments should bear responsibility. While both perspectives have merit, I believe a balanced approach combining personal accountability with selective government support is most effective.
Those who advocate for complete individual responsibility argue that personal debt results from individual choices and financial decisions. When people borrow money, they are fully aware of their obligations and should therefore face the consequences of their actions. Moreover, as discussed in importance of risk management in personal finance, taking responsibility for one’s financial decisions promotes better money management skills and financial literacy.
However, proponents of government intervention contend that certain circumstances warrant state support. Economic crises, natural disasters, or medical emergencies can lead to unavoidable debt, regardless of individual prudence. Government assistance through strategies for improving personal creditworthiness and debt counseling programs can prevent widespread financial hardship and maintain economic stability.
In my view, while individuals should primarily be responsible for their debt, governments should provide targeted assistance in specific situations. For instance, how to reduce debt through refinancing programs could help citizens struggling with high-interest loans, while maintaining the principle of personal responsibility. This approach ensures both individual accountability and social protection.
Band 6.5 Sample Essay (275 words)
Many people have different opinions about who should be responsible for personal debt. Some think individuals should handle their own debt problems, while others believe governments need to help people with financial difficulties.
People who support individual responsibility say that everyone makes their own choices about money. When someone takes a loan or uses a credit card, they know they must pay it back. This helps people learn about importance of maintaining low credit card debt and become more careful with money.
On the other hand, some people think governments should help citizens with debt problems. They say that sometimes people get into debt because of things they cannot control, like losing their job or getting sick. The government can help by making laws about fair lending and providing financial advice.
I think both sides are partly right. People should try their best to manage their own money and debt, but governments should help when people face serious problems. For example, the government could teach people about importance of reducing debt before retirement and provide support during economic crises.
Key Vocabulary
- contentious (adj.) /kənˈtenʃəs/ – causing disagreement or argument
- prudence (n.) /ˈpruːdəns/ – careful management of resources
- intervention (n.) /ˌɪntəˈvenʃən/ – the action of becoming involved in a situation
- fiscal responsibility (n.) /ˈfɪskəl rɪˌspɒnsəˈbɪlɪti/ – careful management of financial resources
- refinancing (n.) /riːˈfaɪnænsɪŋ/ – replacing existing debt with new debt under different terms
IELTS Writing Task 2 essay structure and analysis for debt management topic
Future Practice Topics
Consider practicing with these related questions:
- The role of financial education in preventing personal debt
- Government policies for protecting citizens from predatory lending
- The impact of personal debt on national economic stability
Share your practice essays in the comments section for feedback and discussion with fellow IELTS candidates.
