Financial planning and emergency savings have become increasingly common topics in IELTS Writing Task 2, appearing in roughly 15% of recent tests. The importance of saving for unexpected expenses is particularly relevant given global economic uncertainties, making it a high-probability topic for future tests.
Analysis of Past IELTS Questions
Based on examination of previous IELTS tests, here’s a relevant question that has appeared:
Some people believe that young professionals should save a portion of their income for emergencies, while others think they should enjoy their money when they are young. Discuss both views and give your own opinion.
Question Analysis
This question explores the importance of savings goals for young professionals through a balanced discussion format. Key requirements:
- Discuss both perspectives
- Present personal viewpoint
- Provide relevant examples
- Maintain balanced analysis
Young professionals having a discussion about emergency savings and financial planning
Sample Essays with Band Score Analysis
Band 8.5 Sample Essay
In today’s uncertain economic climate, the debate over whether young professionals should prioritize saving money or spending it during their youth has become increasingly relevant. While both approaches have their merits, I believe a balanced strategy that emphasizes emergency savings while allowing for reasonable enjoyment is most prudent.
Those who advocate immediate spending argue that youth is a unique period that should be fully experienced. They contend that young people should travel, pursue hobbies, and enjoy social activities while they have the energy and freedom to do so. Furthermore, they suggest that with advancing career prospects, earning potential typically increases with age, making early savings less critical.
However, proponents of saving emphasize the importance of building an emergency fund early. They argue that unexpected circumstances such as medical emergencies, job loss, or economic downturns can severely impact one’s financial stability. Early saving habits also benefit from compound interest and provide greater financial security for future goals like homeownership or starting a family.
In my opinion, while enjoying one’s youth is important, establishing a robust emergency fund should take precedence. Young professionals can strike a balance by allocating a fixed percentage of their income to savings while budgeting for reasonable leisure activities. This approach ensures both financial security and life satisfaction without compromising either objective.
Band 6.5 Sample Essay
Nowadays, young people have different opinions about saving money. Some think saving is very important, while others want to spend money to enjoy life. I will discuss both sides and give my opinion.
First, some people think young professionals should save money. They say life is unpredictable and we need money for emergencies. Also, saving money helps for future things like buying a house or starting a business. Many successful people started saving when they were young.
However, other people believe young people should enjoy their money. They think youth only comes once, so we should travel and have fun. They also say we can earn more money later when we are older and have better jobs. Some young people spend all their salary on entertainment and shopping.
In my opinion, I agree that importance of savings accounts for long-term goals is very important. But I also think we can save money and enjoy life at the same time. Young people can save some money every month but also use some money for fun activities.
Score Analysis
Band 8.5 Essay Features:
- Sophisticated vocabulary and complex structures
- Clear progression of ideas
- Balanced argument with nuanced analysis
- Strong cohesion and coherence
- Relevant examples and support
Band 6.5 Essay Features:
- Basic but clear vocabulary
- Simple but accurate sentence structures
- Some repetition in ideas
- Basic cohesive devices
- Limited development of arguments
Key Vocabulary
- Financial stability (n) /faɪˈnænʃəl stəˈbɪləti/ – state of being financially secure
- Compound interest (n) /ˈkɒmpaʊnd ˈɪntrəst/ – interest calculated on initial principal and accumulated interest
- Prudent (adj) /ˈpruːdənt/ – acting with care and thought for the future
- Economic downturn (n) /ˌiːkəˈnɒmɪk ˈdaʊntɜːn/ – period of reduced economic activity
- Financial security (n) /faɪˈnænʃəl sɪˈkjʊərəti/ – state of having stable financial resources
The importance of savings for long-term security remains a crucial topic for IELTS candidates. Practice writing your own response to this question and share it in the comments for feedback. Similar questions might address emergency funds during economic crises or saving strategies for different age groups.
