IELTS Writing Task 2 Sample Essays: Personal Finance Topics – From Basic to Band 8+ Level

Personal finance and investment topics have become increasingly common in IELTS Writing Task 2 exams over the past few years. Analysis of recent test reports shows questions about retirement planning, financial literacy, and investment strategies appearing in approximately 15-20% of exams. Let’s examine a relevant question that has appeared in recent tests:

Some people believe that teaching personal finance and investment skills should be mandatory in high school. Others think students should focus on traditional academic subjects instead. Discuss both views and give your opinion.

IELTS Writing Task 2 essay about personal finance educationIELTS Writing Task 2 essay about personal finance education

Analysis of the Question

  • Topic: Personal finance education in schools
  • Task: Discussion + Opinion
  • Key points to address:
    • Arguments for mandatory financial education
    • Arguments for focusing on traditional subjects
    • Personal stance with justification

Band 8.5 Sample Essay

Financial literacy has become increasingly crucial in today’s complex economic environment, sparking debate about its place in high school curricula. While some advocate for mandatory personal finance education, others maintain that conventional academic subjects should take precedence. This essay will examine both perspectives before presenting my own position.

Those who support compulsory financial education argue that it provides essential life skills that traditional subjects may not cover. Students who understand budgeting, investing, and debt management are better equipped to make informed financial decisions throughout their lives. Moreover, early exposure to financial concepts can help prevent common monetary mistakes and promote responsible financial behavior in adulthood.

Conversely, proponents of traditional education contend that core academic subjects build fundamental cognitive abilities and knowledge bases. They argue that subjects like mathematics, sciences, and languages develop critical thinking skills that can be applied to any field, including personal finance. Additionally, there are concerns about already overcrowded school schedules and the potential dilution of academic focus.

In my view, while traditional subjects are undoubtedly important, incorporating financial education into the curriculum is crucial for preparing students for real-world challenges. A balanced approach could integrate financial concepts into existing subjects, such as using investment scenarios in mathematics or examining economic history in social studies. This would maintain academic rigor while developing practical financial skills.

In conclusion, financial education and traditional subjects need not be mutually exclusive. By thoughtfully combining both elements, schools can produce well-rounded graduates who possess both strong academic foundations and practical financial knowledge.

Students engaged in personal finance lesson with calculator and chartsStudents engaged in personal finance lesson with calculator and charts

Band 6.5 Sample Essay

Nowadays, many people discuss whether schools should teach personal finance or stick to normal subjects. This essay will look at both sides and share my thoughts.

Some people think schools must teach finance because it’s important for life. When students learn about money management, they can handle their finances better when they grow up. For example, they will know how to save money and avoid debt problems. Also, understanding investment can help them make more money in the future.

On the other hand, some people believe traditional subjects are more important. Math, science, and languages help students think better and prepare for university. These subjects have been taught for many years and are proven to be useful. Also, schools already have many subjects to teach and may not have time for finance lessons.

I think both types of education are important, but finance should be included in schools. Maybe schools can teach finance as part of math class or have special classes after school. This way, students can learn both regular subjects and money skills.

To conclude, while traditional subjects are important, schools should find ways to teach finance too. This will help students succeed in both academic and real life.

Key Vocabulary for Topic

  1. financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – ability to understand and manage financial matters
  2. curriculum (n) /kəˈrɪkjʊləm/ – subjects included in a course of study
  3. dilution (n) /daɪˈluːʃn/ – weakening or reducing the value of something
  4. cognitive abilities (n) /ˈkɒɡnətɪv əˈbɪlətiz/ – mental skills used in acquiring knowledge
  5. mutually exclusive (adj) /ˈmjuːtʃuəli ɪkˈskluːsɪv/ – unable to occur together

Conclusion

For further practice, consider writing essays on these related topics:

  • The role of technology in personal finance education
  • Whether financial planning should be taught by parents or schools
  • The impact of early financial education on career success

Share your practice essays in the comments section for feedback and discussion with other learners.