Financial literacy education in secondary schools has become an increasingly important topic in recent years. This subject has appeared in several IELTS Writing Task 2 questions, reflecting its growing relevance in modern society. Based on trends in past exams and the current global focus on financial education, it’s likely that we’ll continue to see questions related to this theme in future IELTS tests.
Let’s examine a sample question that closely resembles those seen in actual IELTS exams:
Some people say that schools should teach children how to manage money. Others believe that this is not the role of schools and should be taught at home. Discuss both these views and give your own opinion.
Analyzing the Question
This question falls under the “discuss both views and give your opinion” category. It requires candidates to:
- Explain why some people think schools should teach financial management
- Present the opposing view that this should be taught at home
- Provide their own perspective on the issue
Key points to consider:
- The role of schools in education beyond academic subjects
- The importance of financial literacy in modern society
- Parents’ responsibility in teaching life skills
- The potential impact of financial education on students’ futures
Now, let’s look at sample essays for different band scores, starting with a high-scoring response.
Sample Essay 1 (Band 8-9)
Financial literacy is an essential life skill in today’s complex economic landscape. While some argue that this knowledge should be imparted at home, others believe it is the responsibility of schools to teach children how to manage money. In my opinion, a collaborative approach involving both schools and parents would be most effective in ensuring young people develop strong financial acumen.
Those who advocate for financial education in schools argue that it provides a structured and comprehensive approach to learning about money management. Schools have the resources and expertise to deliver a well-designed curriculum that covers various aspects of personal finance, from budgeting and saving to understanding taxes and investments. Moreover, incorporating financial literacy into the school syllabus ensures that all students, regardless of their family background, have equal access to this crucial knowledge. This approach can help level the playing field and provide opportunities for students from less financially savvy families to develop essential skills for their future economic well-being.
On the other hand, proponents of home-based financial education argue that parents are best positioned to teach their children about money management. They contend that financial habits and attitudes are deeply rooted in family values and experiences, making the home environment more conducive to personalized learning. Parents can provide real-world context and practical examples tailored to their family’s specific financial situation. Additionally, they can model responsible financial behavior and involve children in household budgeting decisions, offering hands-on experience that may be difficult to replicate in a classroom setting.
In my view, the most effective approach would be to combine the strengths of both school-based and home-based financial education. Schools can provide a solid foundation of financial knowledge and skills through a structured curriculum, while parents can reinforce these lessons and provide practical applications in daily life. This collaborative model would ensure that students receive comprehensive financial education that is both theoretical and practical.
Furthermore, schools could involve parents in the financial literacy program, offering workshops or resources to help them support their children’s learning at home. This synergistic approach would create a more robust and holistic financial education experience, better preparing young people for the financial challenges and opportunities they will face in adulthood.
In conclusion, while both schools and parents have important roles to play in teaching financial literacy, a combined effort would yield the best results. By leveraging the strengths of both educational settings, we can ensure that the next generation is well-equipped to navigate the complex financial landscape of the future.
(Word count: 407)
Essay Analysis (Band 8-9)
This essay demonstrates excellence across all four marking criteria:
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Task Response: The essay fully addresses all parts of the task, discussing both views and clearly stating the writer’s opinion. It provides a well-developed response with relevant, extended and supported ideas.
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Coherence and Cohesion: The essay is cohesive and logically organized. It uses paragraphing effectively and employs a range of cohesive devices accurately.
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Lexical Resource: The essay uses a wide range of vocabulary with very natural and sophisticated control of lexical features. Key terms are used precisely and appropriately.
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Grammatical Range and Accuracy: The essay displays a wide range of grammatical structures used flexibly and accurately. There are no noticeable errors, and the writer maintains full control of complex language throughout.
Key strengths of this essay include:
- Clear and balanced discussion of both viewpoints
- Logical progression of ideas with effective use of linking words
- Sophisticated vocabulary and complex sentence structures
- A well-argued personal opinion that synthesizes both perspectives
Now, let’s examine a sample essay for a lower band score.
Sample Essay 2 (Band 6-7)
Nowadays, many people think schools should teach students about managing money, while others believe this should be done at home. This essay will discuss both views and give my opinion.
On the one hand, schools teaching financial skills can be beneficial. They have trained teachers who can explain complex financial concepts in a way that young people can understand. Also, schools can make sure all students learn about money, even if their parents don’t know much about finance. This can help create equal opportunities for all students in the future.
On the other hand, some people think parents should teach their children about money. They say that money management is a life skill that is best learned at home. Parents can show their children how to budget and save in real-life situations. They can also teach values about money that match their family’s beliefs.
In my opinion, both schools and parents have important roles in teaching financial literacy. Schools can provide the basic knowledge and skills, while parents can give practical examples and reinforce good habits. I think this combination would be the most effective way to prepare young people for their financial future.
For example, schools could teach about different types of bank accounts and how interest works. Then, parents could help their children open a savings account and encourage them to save part of their pocket money. This way, children learn the theory at school and practice it at home.
In conclusion, while there are good arguments for both schools and parents teaching financial literacy, I believe a combined approach would be best. This would ensure that all young people have the knowledge and skills they need to manage money well in their adult lives.
(Word count: 295)
Essay Analysis (Band 6-7)
This essay demonstrates good control across the marking criteria but lacks some of the sophistication seen in the higher band score essay:
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Task Response: The essay addresses all parts of the task, presenting both views and offering an opinion. However, the ideas could be more fully developed and supported.
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Coherence and Cohesion: The essay is generally well-organized with clear progression throughout. It uses some cohesive devices, but not always with complete flexibility.
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Lexical Resource: The essay uses an adequate range of vocabulary for the task. There are attempts at using less common vocabulary, though not always with full confidence.
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Grammatical Range and Accuracy: The essay uses a mix of simple and complex sentence forms. There are some errors, but they do not impede communication.
Key areas for improvement:
- More in-depth exploration of ideas with specific examples
- Greater variety in vocabulary and more precise word choice
- Increased use of complex grammatical structures
- More sophisticated use of cohesive devices
Should students be taught how to manage personal finances is a topic that continues to generate debate. While both sample essays address the question effectively, the higher band score essay demonstrates a more nuanced understanding and sophisticated expression of ideas.
Key Vocabulary for Financial Literacy Essays
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Financial literacy (noun) /faɪˈnænʃəl ˈlɪtərəsi/ – The ability to understand and effectively use various financial skills
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Budgeting (noun) /ˈbʌdʒɪtɪŋ/ – The process of creating a plan to spend your money
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Investment (noun) /ɪnˈvestmənt/ – The action or process of investing money for profit
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Curriculum (noun) /kəˈrɪkjələm/ – The subjects comprising a course of study in a school or college
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Financial acumen (noun phrase) /faɪˈnænʃəl əˈkjuːmən/ – The ability to make good judgments and quick decisions in finance
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Economic well-being (noun phrase) /ˌiːkəˈnɒmɪk ˌwel ˈbiːɪŋ/ – The state of being comfortable, healthy, or happy in terms of finances
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Fiscal responsibility (noun phrase) /ˈfɪskəl rɪˌspɒnsəˈbɪlɪti/ – The obligation to handle monetary affairs prudently
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Personal finance (noun phrase) /ˈpɜːsənl ˈfaɪnæns/ – The management of an individual’s or family’s financial situation
Conclusion
The importance of teaching financial literacy in secondary schools is a topic that is likely to remain relevant in IELTS Writing Task 2. As we’ve seen from the sample essays, this subject allows for a rich discussion of educational responsibilities, life skills, and the balance between school and home learning.
To prepare for potential questions on this topic, consider practicing with variations such as:
- Do you think financial education should be mandatory in all secondary schools? Why or why not?
- Some people believe that teaching financial literacy in schools can help reduce economic inequality. To what extent do you agree or disagree?
- Discuss the potential benefits and drawbacks of introducing financial literacy as a core subject in secondary education.
Remember, the key to success in IELTS Writing Task 2 is not just about knowledge of the topic, but also about how well you can structure your arguments, use a range of vocabulary, and demonstrate grammatical accuracy. Practice writing essays on this topic and others, focusing on developing your ideas fully and using a variety of complex sentence structures.
We encourage you to try writing your own essay on this topic and share it in the comments section below. This is an excellent way to practice and potentially receive feedback from others preparing for the IELTS exam. Good luck with your IELTS preparation!
How to promote financial literacy in young people is a related topic that you might find interesting to explore further as you prepare for your IELTS Writing Task 2.