Financial literacy has become an increasingly common topic in IELTS Writing Task 2, appearing in approximately 15% of recent examination questions. This reflects growing global concern about young professionals’ financial management skills. Understanding importance of financial goals setting is crucial for test preparation.
Young professionals studying financial literacy materials in IELTS preparation
Let’s examine a recent IELTS Task 2 question on this topic:
Some people believe that schools should teach young people about managing money, while others think this responsibility belongs to parents. Discuss both views and give your opinion.
Analysis of the Question
- Topic: Financial education responsibility
- Task: Discussion + Opinion
- Key points to address: Role of schools vs. parents in financial education
- Word count requirement: 250-300 words
Sample Essay 1 (Band 8.0)
The debate over whether financial literacy should be taught in schools or left to parents has gained significant attention as importance of personal financial planning in careers becomes increasingly evident. While both parties can contribute effectively, I believe schools should take primary responsibility for this crucial life skill.
Those who favor parental teaching argue that money management is a personal matter best learned at home. Parents can provide personalized guidance based on family circumstances and demonstrate practical applications through real-life examples. Moreover, they can instill financial values aligned with family traditions and cultural perspectives.
However, school-based financial education offers several compelling advantages. Firstly, trained educators can deliver structured, comprehensive curricula covering essential topics like importance of savings goals for young professionals. Secondly, schools can ensure all students receive standardized financial knowledge, regardless of their parents’ financial expertise. Additionally, classroom settings foster peer discussion and collective learning about money management strategies.
In my view, schools should lead financial education efforts while parents play a supplementary role. Educational institutions can provide systematic instruction about importance of understanding taxes for financial planning, while parents reinforce these lessons through practical application. This collaborative approach ensures young people receive both theoretical knowledge and practical experience.
Sample Essay 2 (Band 6.5)
Some people think schools should teach children about money management, but others believe parents should do this. I will discuss both sides and give my opinion.
On one hand, parents can teach their children about money because they know their family situation better. They can show children how to save money and spend wisely through daily activities. Also, parents can explain about benefits of using a financial advisor based on their experience.
However, schools have advantages in teaching financial education. Teachers are trained professionals who can explain complex topics clearly. They can use different methods to make learning interesting. Schools also have resources like computers and books to help students understand money matters better.
I think both schools and parents should teach children about money. Schools can provide basic knowledge, while parents can show how to use this knowledge in real life. This way, children can learn both theory and practice.
Band Score Analysis
Band 8.0 Essay Features:
- Sophisticated vocabulary and complex structures
- Clear organization with cohesive devices
- Well-developed arguments
- Balanced discussion with clear position
- Academic tone throughout
Band 6.5 Essay Features:
- Simple but clear language
- Basic organization
- Limited range of structures
- Some development of ideas
- Occasional errors in grammar
Key Vocabulary
- financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – understanding of financial concepts
- curriculum (n) /kəˈrɪkjələm/ – course of study
- comprehensive (adj) /ˌkɒmprɪˈhensɪv/ – complete, thorough
- supplementary (adj) /ˌsʌplɪˈmentəri/ – additional
- standardized (adj) /ˈstændədaɪzd/ – made uniform
Practice writing your own essay on this topic and share it in the comments for feedback. Consider also exploring related topics like digital banking literacy or retirement planning for young professionals.
